PRIZM is a 100% proof-of-stake cryptocurrency based on the NEXT-Kernel which is built on Java with an open source code. The unique PRIZM proof-of-stake algorithm does not depend on any implementation of the "coin age" concept used by other proof-of-stake cryptocurrencies, and is resistant to the so-called "nothing at stake" attacks. The total number of coins available was distributed in the Genesis block. Curve25519 cryptography is used to provide a balance of security and the required processing power along with the more commonly used SHA256 hashing algorithms.
Blocks are generated every 60 seconds, on average, by accounts that are not blocked on network nodes.
PZM are redistributed by incorporating transaction fees that are awarded to an account when it successfully creates a block. This process is known as forging and is akin to the notion of "mining" used by other cryptocurrencies. Transactions are considered secure after 10 block confirmations, and the current architecture and block size of the PZM allow processing up to 367,200 transactions per day.