Which blockchain is the Prom (PROM) coin on?

PROM coin, the native token of the PromChain blockchain, fuels smart contract executions and provides decentralized governance capabilities, enabling businesses to harness the power of blockchain technology.

Dec 23, 2024 at 08:04 pm

Key Points

• PROM coin is a native token of the PromChain blockchain platform.
• PromChain is an enterprise-grade blockchain solution designed for various industries.
• PROM coin is used to pay for transaction fees and power smart contract executions.
• PromChain offers scalability, security, and efficiency for enterprise applications.
• PROM coin is used for decentralized governance within the PromChain ecosystem.

Article Content

1. Introduction to PromChain

PromChain is an open-source, enterprise-grade blockchain platform designed to meet the unique requirements of various industries. It provides a secure, efficient, and scalable infrastructure for developing and deploying distributed applications. PromChain aims to empower businesses to innovate and transform their operations by leveraging blockchain technology.

2. What is PROM Coin?

PROM coin is the native token of the PromChain blockchain. It is a utility token used to pay for transaction fees and power smart contract executions on the network. PROM coin is also used for decentralized governance, allowing token holders to participate in decision-making processes related to the development and direction of the PromChain platform.

3. Use Cases of PROM Coin

• Transaction Fees: PROM coin is required to pay for transaction fees on the PromChain network. This ensures the network's stability and incentivizes efficient resource utilization.
• Smart Contract Execution: PROM coin is used as fuel to execute smart contracts on the PromChain blockchain. The amount of PROM coin required for a contract execution varies depending on its complexity and computational requirements.
• Decentralized Governance: PROM coin holders can participate in on-chain governance mechanisms. They can vote on proposals, elect network validators, and contribute to the development roadmap of the platform.

4. Features of PromChain

• Scalability: PromChain employs a sharding mechanism to achieve high transaction throughput without compromising decentralization. Multiple shards operate simultaneously, processing transactions in parallel to increase network capacity.
• Security: PromChain utilizes a consensus mechanism based on Tendermint BFT, ensuring the integrity and tamper-proof nature of the blockchain. The highly secure environment provides robust protection against malicious activities.
• Efficiency: PromChain is optimized for enterprise applications, offering fast transaction processing times and low latency. Its efficient architecture minimizes overhead costs and enhances overall performance.

5. Industries Served by PromChain

PromChain's versatility makes it applicable to a wide range of industries, including:

• Supply chain management
• Healthcare
• Finance
• Logistics
• Smart cities
• Energy
• Gaming

FAQs

• What is the maximum supply of PROM coin?

  • The maximum supply of PROM coin is capped at 100 million.

• Where can I buy PROM coin?

  • PROM coin is currently available on multiple cryptocurrency exchanges, including Uniswap, Gate.io, and Binance.

• How do I use PROM coin for governance?

  • To participate in governance, you need to hold PROM coin in a compatible wallet and connect to the PromChain governance platform.

• Is PromChain a public or private blockchain?

  • PromChain is a permissioned blockchain designed for enterprise use. However, it provides a higher level of transparency than private blockchains.

• What is the role of validators in the PromChain network?

  • Validators are responsible for validating transactions and adding blocks to the blockchain. They are elected by PROM coin holders and rewarded for their contributions to network security.