Topic: [ANN] [POW] Promethium Chain PCM | NO ICO NO PREMINE PEOPLES MONEY (Read 2403 times)

You can join our discord to find out more if you are interested!

where is the rest of this thread? what was the conclusion on this project?

Update on the project

It's has been two months that our chain is live with almost 350k of blocks produced.
Hash rate grow shows nice support and distribution continues to be fair on participants.
We would like to thank you for that in advance.

In these two months, we have been doing a lot of work behind the scenes on the p2p trading and escrow platform named "Olympus", a lot of testing of the contracts and especially against the steam API.

As we started testing we soon realized that ethereum codebase is very limited in handling the complex contracts in mass. While the handling is flawless, if demand is present the network gets congested fast.
In simple words, the codebase right now can only handle a small number of functioning contracts.
As you all know promethium is based on the ethereum codebase with some heavy modification on the algorithm and consensus level.
We have stated numerous times that the plan and cause of this project is not to create another coin without a purpose or goal, there is plenty of that already out there, but to create a platform that will handle a specific topic of interest.

So the decision was made to switch to another codebase.
We have been working on a custom chain for some time now and we are close to releasing a test net for our new codebase.
Promethium v2

The new codebase is based on rust and the substrate framework that includes the web assembly(wasm) implementation.
The codebase supports also smart contracts.
We strongly believe that the rust codebase can and will be the base to develop a safe and scalable architecture for our application.
What is new on promethium v2:

First of all the web assembly ensures that we don't need to fork anymore if we want to introduce updates on the chain or introduce new features or even consensus changes. This a massive future for the stability of the chain and the future development on it.

 Secondly, we are going to move to a new proof of stake system.
We took that decision even if PLHash is working nicely and fair because we are going always to be depended on the hash power and miner participation, also the time we spend talking to GPU miner developers or the bounties we offered didn't bring anything.
In fear that some miners can go rouge and develop secretly a GPU miner and use it, the decision was made that we need to change the direction.
To have a network that is that fast to serve the needs of a p2p escrow trading system we have to be real about it and move to a pos system and consensus model that reflects that.

Since the system target group is non-crypto customers the need for a flawless working system is more than essential.
Just imagine having a congested chain and trying to explain to costumers with 0 knowledge about blockchain, why they can't withdraw holdings.
Thirdly we are going to have the chance to implement numerous systems on our chain and side chains with more ease as stable coin sidechains, registration of files and governance on-chain and many more.

Transition to the new system will happen at the start of the new year.
All mined funds will be available in the new chain.
Staking will be available to everyone.

We are open to discussion on any point.
A proper announcement will be available with the test net node.

The Promethium Chain Team 2019

Im gonna watch this!

We are now also on crypto talk

https://cryptotalk.org/topic/654-ann-pow-promethium-chain-pcm-no-ico-no-premine-peoples-money/?tab=comments#comment-5928

telegram group : https://t.me/joinchat/EjRwyxci4hcyQOVrxg2DxQ

Update on the lightwallet:

Added import via key file
Added import via private key

https://github.com/promethiumchain/lightwallet

Hi there we have just released https://github.com/promethiumchain/lightwallet
Still beta but fully usable.

Send Receive Store Your coins.
Import Address is restricted until we leave the beta.
Ready for Windows Linux MacOsx.

https://imgur.com/FdHMOzy.gifv
Promethiumchain wallet is still under development ... very soon we will have it in our hands.
Welcome [0x1337] on board!

https://twitter.com/CryptoBlackMass/status/1170265511126605824

https://bitcointalk.org/index.php?topic=5182305.new#new translation in italian done

thanks to HexAviator and PromethiumDev


This coin can be very good. I really appreciate the project

No regions blocked... we are focusing on wallet and API creation atm.
Website is not that important atm as the current work is already on track.
As soon as the wallet is out we will update the site properly.
You can check our git and discord if you want to know more about the project.

Website isn't working! Are certain regions blocked?

hello there friends we have some news for the week to come on our network.

1/ finishing up and polishing the wallet (looks very good indeed)

2/ updating the node (some minor fixes)

3/ updating plhash with more math functions

We welcome all users to participate...current hash rate makes it possible to mine with a single cpu so get these in while you can.

Join us at discord:)


PS: As a treat we have someone joining the dev team as advisor to the code base.

the developers have shared these screenshot of the future wallet in discord.-      

You just come in here and trash talk I think your intentions are questionable and I think you are a bought account!
Anyone with a gram of brain will see what's going on.
At least have the dignity to join discord or even read the code on GitHub and then judge...but oh wait there is no website!

Did you even bother to check the site that I was referring to?

http://promethiumchain.com/

This is posted in the OP as their website. And now, you are saying that I am spamming the thread??
I don't even have the intentions of faking a github link. Why should I?
I won't be surprised if this project will go down in the crypto history very soon as the people who are supporting this are questionable.

Its nice to see that you can even get a "hero member" to spam the thread.
You really post something like this and the link is a GitHub link. you don't even know how to fake a GitHub 404!
You can do better I am sure but first please take the time and go to a non existent page on git hub so you can at least fake that properly.
Don't be lazy cause we are not and we are delivering the goods, btw if you change ur mind and grow up you can still mine with your cpu
I am sure as a hero member you know that a project with a good site is always not a scam.

PS: but please don't stop the posting cause it make us laugh

you are reading allegations from invented arguments like prome devs want to steal metamask passwords etc,   (the only the provide is the way you can track your promethium balance in metamask like other coins/eth like ) join the discord and you can see with your own eyes how devil the promethium community are.
the truth is some of the banned guys not all but some of them had 1 week or more days to setup everything but they didnt did it. and with hours for the launch they want everybody leave what we are doing to give to them all the attention. me and others dont have any problem to help to everybody but not with this behaviors and requests with some aggressiveness.
some miners come later and we help and keep helping new users/miners. if you are educated and respect others users you the community will help you. and is not about success is about education. some guys think that every discord channel is a ghetto where they can make whatever they want.

pd, sorry for my grammar , english is not my native language i hope you can catch the idea behind my words. cheers.

Your site can't be reached as of this writing? Is it really not yet up?



Also, I am reading some allegations which I think those users are really not spammers.
They have something to say towards this project as they have actual conversation with the team via discord.
Spammers are those who don't know what they are talking about, just to say something.
However, the truth will come out sooner or later...

Node updated version berlin today!

https://github.com/promethiumchain

Feel free to update and mine away!
All new-gen CPUs are more than welcome!