ABOUT PRUDENT COIN

PRUDENT is the fastest and most scalable instant confirmation transaction layer ever built on a proof-of-work engine. Transactions sent to miners can be included immediately in the ledger, which is structured as a revolutionary blockDAG. PRUDENT is based on the GhostDAG/PHANTOM protocol, a scalable generalisation of the Nakamoto Consensus (Bitcoin consensus). Its design is faithful to the principles Satoshi embedded into Bitcoin — proof-of-work mining, UTXO-formed isolated state, deflationary monetary policy. PRUDENT is unique in its ability to support high block rates while maintaining the level of security offered by the most secure proof-of-work environments. PRUDENT’s main-net will operate with one block per second. After the ongoing rust language rewrite, the core developers goal will be to increase the number of blocks per second substantially, attracting the development of smart contracts and DeFi.

SOLVING THE TRILEMMA

Traditional cryptocurrencies suffer from a security-scalability-decentralisation tradeoff: decentralised cryptocurrencies must limit their block creation rate in order to limit “orphans”, off-chain blocks created during the time it takes for a latent block to be propagated across the network. A high orphan rate decreases the effectiveness of the PoW network, thus decreasing its defence against attacks from malicious actors joining the open network. To solve this tradeoff, PRUDENT’s consensus layer uses GhostDAG, a proof-of-work consensus protocol that generalises Nakamoto’s chain into a directed acyclic graph of blocks ( blockDAG). GhostDAG incorporates”orphan” blocks into the chain to form a blockDAG, and then uses a novel greedy algorithm to order the blocks such that well-connected, honest blocks are favoured, quickly and with high probability. GhostDAG allows PRUDENT to circumvent the traditional tradeoff of blockchains, improving on block rate by orders of magnitude while maintaining the theoretical security guarantees of Bitcoin.

This results in a cryptocurrency that is supported by 51% security, has a high number of miners / nodes, and has throughput on the order of one block per second. This is unlike existing cryptocurrencies, which inevitably trade off on having small numbers of validator nodes or lower BFT security (33% threshold needed for malicious actors to attack the network).

Fast Confirmations

Traditional cryptocurrencies’ slow block rates indicate slow confirmations, i.e., the time it takes for a transaction to be published on the blockchain. PRUDENT’s consensus layer supports fast, sub-second confirmations— a fast first confirmation, which enables use cases that need immediate proof of publication (but not immediate irreversibility), such as e-commerce.

High Throughput

Traditional cryptocurrencies’ slow block rate also indicates low transaction throughput. Using GhostDAG, PRUDENT’s consensus layer removes security as a bottleneck for high throughput, allowing block rate and block size increase up to what the network can handle. PRUDENT also optimises bandwidth cost and network infrastructure for high throughput.

Mining Decentralisation

Traditional cryptocurrencies’ slow block rate also indicates high variance of mining income (i.e. irregular mining rewards due to the difficulty of finding a block), incentivising miners to join larger and larger mining pools—which combine computing power and distribute smaller, more regular mining incomes to participants—as the network grows and the block difficulty increases. This centralises the consensus power into the hands of a few pool managers. PRUDENT’s consensus layer’s fast block rate decreases the variance of mining income – which decreases the incentive to join mining pools – contributing to mining decentralisation.

JOIN & FOLLOW THE COMMUNITY

We are a growing community and are always looking for enthusiastic people to join the project.  If you are a coder, marketer, vlogger, community manager, enthusiast, or anything else join the PRUDENT and say, “hi!”