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Discover Prometeus's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Prometeus?

Prometheus (PROM) is an open-source monitoring system that collects and stores metrics as time series data, providing a flexible query language and efficient time series database. It is designed for reliability and supports multi-dimensional data collection and querying, making it suitable for monitoring both machine-centric and service-oriented architectures.

How is Prometeus used?

Prometeus (PROM) is a decentralized framework that allows for data storage and exchange under a completely decentralized and trustless model. The native token of the Prometeus network, PROM, serves two principal functions:

  1. Network Compromise: Users stake PROM to participate in the Proof of Stake Authority (PoSA) network consensus and receive PROM rewards in return.
  2. Payments: PROM is used as the main form of payment for services in Prometeus-based applications and can be exchanged with other tokens such as USDC and BUSD.

How do I store Prometeus?

To store Prometeus (PROM) tokens, you can use various types of cryptocurrency wallets. Here are some options:

  1. Software Wallets: These wallets are downloadable for free from the App Store or Google Play. They save your public and private addresses online and protect them against hackers. Examples include the PTPWallet, which supports many cryptocurrencies, including Prometeus.

  2. Hardware Wallets: These wallets store your private keys offline, excluding the chances of a hack. They are considered safer than software wallets.

  3. Paper Wallets: These are free cold wallets that store your PROM tokens offline. They are another secure option for long-term storage.

  1. Crypto Exchanges: Some exchanges offer their own crypto wallets, but it is generally recommended to use a separate wallet for added security.

When choosing a wallet, consider factors such as security, ease of use, and compatibility with your region and payment methods.

How to buy Prometeus?

To buy Prometeus (PROM) tokens, follow these steps:

  1. Set up a Crypto Wallet:

    • Download a crypto wallet that supports Prometeus, such as the Binance wallet.
    • Register and set up the wallet, noting your wallet address and seed phrase securely.
  2. Buy a Base Currency:

    • Log into your exchange account and go to the Buy & Sell Crypto page.
    • Purchase a base currency, such as Bitcoin (BTC), using your preferred payment method.
  3. Transfer Base Currency to Wallet:

  • Withdraw the base currency from the exchange to your wallet, ensuring you use the correct network and wallet address.
  1. Choose a Decentralized Exchange (DEX):

    • Select a DEX that supports your wallet, such as Pancake Swap.
    • Connect your wallet to the DEX and ensure it supports Prometeus (PROM).
  2. Trade for Prometeus (PROM):

    • Use your base currency to buy Prometeus (PROM) on the DEX.
    • Enter the amount you want to trade and confirm the transaction.
  3. Optional: Use Alternative Exchanges:

  • You can also use exchanges like Pionex, Kriptomat, or KuCoin, which offer various payment methods and trading options.
  1. Secure Your Tokens:
    • Consider storing your Prometeus tokens in a secure wallet, such as a hardware wallet, to protect your assets.

Remember to research and understand the risks involved in cryptocurrency trading before making any purchases.

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History of Prometeus

Prometheus, a Titan in Greek mythology, is known for his role in defying the Olympian gods by stealing fire and giving it to humanity. His name, "Prometheus," means "forethought," while his brother Epimetheus' name means "afterthought." He is often referred to as a god of fire and is associated with the creation of mankind from clay.

Prometheus' story is deeply intertwined with the gods and goddesses of Greek mythology. He is said to have been punished by Zeus for stealing fire, being chained to Mount Caucasus where an eagle devoured his liver daily. However, he was eventually freed by Hercules.

In addition to his role in fire and creation, Prometheus is also associated with Athena, with whom he often appears in myths. He is said to have ascended into heaven with her assistance and stolen fire from the chariot of Helios.

Prometheus has had significant cultural and artistic impacts throughout history. In the Renaissance, he became a popular subject for painters and sculptors, with notable works by Piero di Cosimo and Parmigianino. His mythological story has also been referenced in literature, such as in William Shakespeare's "Othello," where the "Promethean heat" symbolizes the gift of life.

Today, the name Prometheus is used in various contexts, including technology and software, such as the Prometheus monitoring system, which is a widely used tool for monitoring and alerting in computer systems.

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How Prometeus works

Prometheus is a monitoring system that collects metrics from configured targets, known as scrape targets, and stores them in a time-series database. It runs as a long-running service that scrapes these endpoints and can be configured to forward the data to other services like New Relic using its remote_write feature.

Scraping and Storage

Prometheus scrapes metrics from instrumented jobs, either directly or via an intermediary push gateway for short-lived jobs. It stores all scraped samples locally and runs rules over this data to either aggregate and record new time series from existing data or generate alerts.

Data Model

Prometheus fundamentally stores all data as time series, which are streams of timestamped values belonging to the same metric and the same set of labeled dimensions. Each time series is uniquely identified by its metric name and optional key-value pairs called labels. The query language allows filtering and aggregation based on these dimensions.

Query Execution

When running a query in Prometheus, the execution flow involves four basic steps:

  1. Identifying which blocks correspond to the query’s time range.
  2. Using the postings index to find the series that match the labels.
  3. Using the series index to identify which chunks correspond to each series.
  4. Retrieving the sample data from the chunks.
Features and Integration

Prometheus is designed for reliability and can run on various platforms, including Windows, Linux, and Kubernetes. It is part of the Cloud Native Computing Foundation (CNCF) ecosystem and is commonly associated with Kubernetes, but it can also be used independently. It integrates well with other tools like Grafana for visualization and New Relic for data warehousing and alerting.

Agent Mode

Prometheus can also run in agent mode, where it doesn't store any metrics but is used exclusively to scrape and forward metrics to other services. This allows it to act as an agent rather than a traditional server, making it more lightweight and flexible.

Dynamic Discovery Framework

Prometheus has a powerful Dynamic Discovery Framework that allows it to dynamically discover and monitor targets. This framework can be configured to talk to other systems, such as Kubernetes or AWS API, to get the list of instances to monitor.

OpenMetrics Format

Prometheus uses the OpenMetrics format, which has become a standard for many monitoring tools. This format allows for easy integration with other tools and services that understand OpenMetrics.

Overall, Prometheus is a powerful and flexible monitoring system that can be used in a variety of environments and can integrate with other tools to provide a comprehensive monitoring solution.

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Prometeus's strengths

Prometeus (PROM) is known for its innovative approach to data exchange, particularly with the Ignite and Stoa platforms.

Prometeus's risks

Prometeus (PROM) is a cryptocurrency that allows users to earn interest through staking. The main risks associated with Prometeus are:

  • Security Risks: Prometeus, like other cryptocurrencies, is vulnerable to security risks such as information leakage and denial-of-service (DoS) attacks. These risks can arise from exposed HTTP endpoints, which can be exploited by malicious actors to access sensitive information or consume system resources.

  • Market Volatility: The value of Prometeus can fluctuate significantly, which means that users may experience losses if they invest in it at the wrong time. Market volatility can be influenced by various factors, including global economic conditions, regulatory changes, and adoption rates.

  • Liquidity Risks: Prometeus, like other cryptocurrencies, may experience liquidity issues, making it difficult for users to buy or sell their coins quickly and at a fair price. This can be particularly problematic during times of high market volatility.

  • Regulatory Risks: Cryptocurrencies, including Prometeus, are subject to changing regulatory environments. Governments and financial authorities may impose stricter regulations or even bans on cryptocurrencies, which can negatively impact their value and usability.

  • Technical Risks: Prometeus, as a digital asset, relies on complex technical infrastructure. Technical issues, such as bugs, network congestion, or smart contract vulnerabilities, can compromise the security and functionality of the system.

  • Counterparty Risks: When staking Prometeus, users rely on the stability and security of the staking platform and its operators. If the platform experiences issues or is compromised, users may lose their coins or face difficulties in accessing their funds.

It is essential for users to carefully evaluate these risks and take necessary precautions before investing in Prometeus or any other cryptocurrency.

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Did Prometeus raise funds?

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Prometeus's ecosystem

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Prometeus’s team

  • Vladislavs Semjonovs: The leader at Prometeus, holding a degree in international law from Kutafin Moscow State Law University and having experience in legal counsel and blockchain technology.
  • Iva Wisher: The Chief Operating Officer (COO) of Prometeus Labs, with a marketing and PR degree from The Russian Presidential Academy of National Economy and Public Administration (RANEPA) and experience in investment banking and venture capital.

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The fundamental analysis assistant for crypto value investors.


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