October 18, 2019

Prometheus platform can improve blockchain implementation

Prometheus has, what seems, at first sight, a simple solution that may have unimaginable implications in the implementation of the blockchain technology.

Today, we are all familiar with relational databases. That is because we are using them for more than 30 years in business processes. Common people understand the basic concept behind it. On the other hand, blockchain is a bit different. Most people do not understand the basic concept and how it is functioning. But, that is normal for the new technology.

Prometheus came up with the elegant solution of how to integrate the business process and the blockchain technology. They have developed an MVP where users can connect to their database with few clicks and transfer the data to the blockchain. This, at first sight, a simple solution can really bring unimaginable change in the blockchain industry. Now every business entity or institution can use blockchain technology without the need to develop its own blockchains. Imagine a university that can transfer their data to the blockchain. All data that has to be transparent to the public will be protected from the manipulation. And this can be done with only a few clicks. Here is an example of how transfer from the database to Ethereum blockchain is functioning:

Protection of the ICO participants

According to their website: prometheus.business, they have the protection of the ICO participants, which has never been seen before.

1st level of protection is if the soft cap is not passed then Ethereum will be returned to the ICO participants via smart contract. This has, of course, been seen before, but it is a shame that it is not an industry standard.

2nd level protection is very interesting and it is not been seen before. If they pass the soft cap and they start to develop their platform, all participants during the ICO will vote for the independent authority or institution, while participants who invested more than $1,000 will suggest a new entity, who will examine the progress of the development. And if the progress is not going accordingly the road map Ethereum will be returned to the participants.

This is something really new in the industry and we are excited for more news from Prometheus.

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