The rise of the internet has led to problems never heard of before. Each of us generate unlimited data while being connected to the internet. Our personal data, in whatever shape or form, is stored with big tech companies which can use them without our consent. The Cambridge Analytica has become a classic example of how FaceBook sold users’ data which was subsequently used for nefarious purposes like election rigging.
Suffice it to say, examples like these have led to the popularity of the blockchain technology. The blockchain – with its decentralization – offers an alternative to exploitive firms. Prometeus is one such project that aims to employ the blockchain technology to empower users over their personal data.
What is Prometeus?
Prometeus is a layer-2 decentralized layer built on top of the Binance Smart Chain. It is a data-focused decentralized finance project. Prometeus is focused on solving real-world problems especially concerning to data. The project was initially designed to be a marketplace for data trading. Data trading allows users to monetize their data and cuts out centralized intermediaries which exploit users’ and their data. However, Prometeus has come a long way and it offers many other services too. The goal of the project is to infiltrate every sector and industry with the blockchain technology to promote decentralised and transparent systems.
It is a secure and trustless framework for anonymous data storage and exchange. Prometeus’ data exchange, Stoa, enables users to buy and sell their data – empowering them to monetize their data on their own terms. The second offering of the network is Ignite. Ignite is a safe & secure, firewall-resistance microblogging platform aimed at enabling free speech and a safe space for people to communicate.
Future outlook
The proposition of Prometeus has untapped potential. The network is acting as a viable option to escape from the crutches of corporate behemoths. The network is also actively involved in the blockchain arena and supports projects with a good future outlook. Recently, Prometeus announced the incubation of Realis which is considered to lead the revolution in the blockchain gaming industry.
At the time of writing, PROM token stands at a price level of $15.90. The future predictions for cryptocurrency are bullish. According to the estimates of Wallet Investor, the cryptocurrency is estimated to be operating at a price level of $32 in a year’s time and reach towards $96 in five years. Digital Coin Price suggests a year-ending price of $23 and the price to be near $55 by 2026.
