PROM Coin Complete Guide: Investment Information Even Beginners Can Understand Easily
Hello! Today, I'm going to tell you in detail about PROM Coin. I'll explain it so that even those who are new to cryptocurrency can easily understand it.
Introducing PROM Coin
PROM Coin is a cryptocurrency based on blockchain technology, and is mainly designed to increase the efficiency of data sharing and management. From Coin enables safe transactions and information exchange based on trust between individuals and businesses.
Key Features: From Coin also contributes greatly to protecting users' personal information by safely encrypting and using data. This is in line with the current trend of personal information protection being an important issue.
In particular, as the value of data has rapidly increased in recent years, the need for a platform where individuals can trade their data safely and transparently has arisen, and From Coin is attracting attention as a solution that solves this need.
History of From Coin
From Coin appeared in 2020 and initially started as a project related to data economics. With the development of blockchain technology, it has grown by adding various functions and is currently being used in various industries.
The founder and development team of the project are continuously working on technological development and community expansion. Since 2021, it has been expanding the ecosystem by signing various partnerships along with the full-scale launch of the mainnet. In particular, since 2022, it has been actively used in the DeFi (decentralized finance) field.
To date, it has been pursuing stability and scalability at the same time through continuous updates and improvements, and has been showing systematic development according to the roadmap.
How PROM Coin Works
PROM Coin operates using Ethereum-based smart contracts. Users can set it to automatically perform transactions that meet certain conditions, allowing them to conduct transactions safely without the intervention of intermediaries.
All transactions are recorded on the blockchain to ensure immutability. This allows users to secure the transparency and reliability of transactions. In addition, it adopts the Proof of Stake (PoS) method as a consensus algorithm to pursue both energy efficiency and security.
Technical Features: From Coin's blockchain can process about 1,000 transactions per second, and the average block generation time is 3-5 seconds. This provides a significantly faster processing speed than existing Bitcoin or Ethereum.
Usage of From Coin
From Coin is being utilized in various fields. For example, it plays a role in facilitating transactions between data providers and consumers on data sharing platforms, and is positioned as a revenue model for companies.
In addition, various dApps using From Coin are being developed, so the possibilities are expected to expand further in the future. The main areas of current utilization are as follows:
1. Data Marketplace: Used as a means of payment on a platform where individuals or businesses can safely trade their data.
2. Staking Rewards: By staking PROM Coins, you can contribute to network security and receive additional coins in return.
3. Governance Voting: Coin holders can exercise their voting rights on important decisions of the project.
Exchanges where PROM Coins are traded
PROM Coins are traded on several cryptocurrency exchanges. Major exchanges include Binance, Huobi, and Upbit, and you can easily buy and sell PROM Coins on these platforms.
Trading fees and supported trading pairs vary depending on the exchange, so it is best to check in advance and proceed with the transaction. In domestic exchanges, Upbit and Bithumb are the main trading platforms, and among overseas exchanges, Binance and Coinbase are showing high trading volumes.
Trading Tips: Compare fees by exchange to trade at the most favorable conditions. Also, if you choose an exchange with a high trading volume, you can trade at a more stable price.
PROM Community and Social Media
PROM is actively discussed in various communities and social media platforms. You can check the latest news and updates about the project on channels such as Telegram, Discord, and Twitter.
Users share their experiences, ask questions, and help each other through these platforms. In particular, the official Telegram channel is where the development team directly participates to answer questions, and you can be the first to see major updates.
In Korea, information is also actively shared through KakaoTalk open chat rooms and Naver Cafe. Before investing, I recommend that you participate in these communities and hear various opinions.
PROM (PROM) Coin Wallet
You need a wallet to safely store PROM coins. PROM coins are supported by both hardware wallets and software wallets. It is safest to use a personal wallet, but you can also use an exchange wallet conveniently.
If you trade frequently, use an exchange wallet, and if you want to store long-term, I recommend a hardware wallet. The main supported wallets are as follows:
Hardware wallet: Supported by Ledger Nano S/X, Trezor One/Model T.
Software wallet: Available on Metamask, Trust Wallet, MyEtherWallet, etc.
Security precautions: Never share your wallet's private key or seed phrase with others. It is also important to regularly update your wallet software to apply the latest security patches.
Things to consider when investing in PROM Coin
There are a few things to consider before investing in PROM Coin. First, you should thoroughly research the project's white paper and the team's history. Second, it is good to set the investment amount considering the market volatility and consider diversifying your investment.
Lastly, it is important to participate in community activities, listen to the opinions of other investors, and continuously update information. Cryptocurrency investment is a high-risk, high-return investment, so please make a decision after fully considering your investment tendency and financial situation.
Investment Warning: Cryptocurrency investment carries a risk of principal loss. Investment decisions should be made at your own discretion and responsibility, and it is also a good idea to consult with an investment professional. Never invest for living expenses or essential funds.
It is also important to analyze the market to determine the appropriate timing for buying/selling. Please make a comprehensive investment decision by combining technical analysis and fundamental analysis.
We have provided a lot of information about the PROM coin. If you have any questions or want to know more, please leave a comment! In the future, we will introduce various virtual currencies and blockchain technologies in an easy and fun way.