Prometheus: The Social Currency Network

The Spark: The Underlying Currency of the Network

The currency of the Prometheus network is the spark(*). A spark is worth -1 second of human life. Every spark is a promise from someone in the network to devote a second of their time to creating value for another person. Every person who participates in the Prometheus Network has an account which holds their balance of sparks. They may credit their account a maximum of 86400 sparks per day(86400 seconds = 24 hours). However the pool of available credit declines at a rate of one spark per second until 12:00am the next day. This is known as fizzle. You may think of this as a measure of insuring we don't promise to spend more time than we have left in the day. Any sparks credited by the account holder must be spent before 12am the next day or they will fizzle, this time period is known as the credit period. Any sparks that are spent within the network during the credit period become obligations of the user to spend their real world time toward the debt incurred by their purchases. Any unspent credit will fizzle. A member's total balance of unfizzled sparks are always visible to those on the network as a measurement of contribution of value.