These are the times when the need for blockchain technology will increasingly come to light. One of the central problems that blockchain technology addresses are the problem of trust between participants in the business process. The vast majority of the projects will immeasurably improve their business by addressing this issue using blockchain technology.
The idea and vision behind the Prometheus project is to enable the use of blockchain technology that addresses trust issues for a broad spectrum of projects. That is, to enable any entity in need of blockchain technology to deploy it in a fast, efficient and cost-effective manner.
How Does Prometheus Want to Enable the Implementation of Blockchain Technology?
Prometheus’ vision seems extremely ambitious. It all started with a simple but extremely effective idea of how this would be accomplished. Today, business without relational databases is unimaginable and everyone understands what relational databases are. This is something we cannot say the same for blockchain technology, but fortunately, we are on the way.
Prometheus has created an application that allows easy, fast and efficient integration between any existing data sources (one of which is databases) and blockchain technology. Prometheus’ MVP allows data from the database (or other data source) to be transferred to the desired blockchain. It is also possible to reverse the process, ie transfer data from the blockchain to the database or some other data source.
The implications of this solution are immeasurable. Any entity with a need for blockchain technology will be able to apply solutions that address the trust issue in a simple, convenient and effective way. There will be no need for expensive and time-consuming in the house solutions. Enterprises or other entities will be able to use future Prometheus platform that will greatly improve the business process and increases competitiveness.
Protection of the IEO participants
Although MVP is complete and fully functional, IEO is necessary to complete the platform as soon as possible. The PRO token will be the primary mean of payment on the future Prometheus platform and it will have a healthy ecosystem. IEO is scheduled for February 1st, 2020 and will last 3 months. The price of the PRO token is $ 0.1.
The team, led by University Professor for Distributed Computer Systems Srdjan Vukmirovic, makes it extremely clear that their sole intention is to complete the platform as soon as possible and to make their idea fully come to life. This is best seen in protecting IEO participants. Prometheus has implemented something unseen in the crypto world.
All Ethereum coins invested in Prometheus IEO will be locked via a smart contract. If the soft cap of $ 530,000 purchased PRO tokens is not achieved, the coins will be automatically returned to the IEO participants. The hard cap is $ 11M.
Prometheus organization wants to take a step further in the protection of its investors in ICO. If the soft cap is exceeded, Prometheus wants to protect its investors additionally, in the way that a third independent person of authority (like a university) is given a task to estimate progress in the creation of the Prometheus platform according to the roadmap. If the independent person estimates that the conditions have not been fulfilled, i.e. that the development of the Prometheus platform does not correspond to the ones planned in the roadmap, the investors are given their investment back, proportionally reduced from the number of all investors by $530,000.
To enable independence of the third person that will follow the progress and development of Prometheus platform, i.e. to make sure that terms presented in the roadmap are followed, all the buyers of PRO token will be able to choose an “observer” out of several having been offered, and the buyers of PRO token in the amount over $1,000 will be able to propose the “observer”.
Prometheus’ Private Sale
The Prometheus project has so far been funded by the founders. The team is aware of the importance of marketing for a successful IEO, and at the same time, they want to offer PRO tokens for an affordable price. For this reason, Prometheus is organizing a private sale. The tokens will be available for up to 50% off. For more details, visit Prometheus website.