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Welcome to the Prometheus wiki!

Prometheus is a peer-to-peer social network for commerce. We ultimately want to build a community where it is possible to help for a living. We aim to provide a fair currency system that embodies this spirit. We call this currency sparks (-1 seconds). This currency is backed by the time of its users voluntarily and exchanged amongst each other of goods and services. We provide the means for managing the flow of this currency between user automatically through smart contracts.

All currency on the network represents the time of a unique user which is owed to the other members of the network. This debt is created by the user who credited their own account a portion of their future's time and using it as payment for goods or services. This same debt is eliminated when the same user creates a good or performs a service valued by another user at the same value as the initial debt through purchase of that good or service. This is the equivalent to the credit-debit system found in double-entry bookkeeping.

Time is the most valuable things we as human beings have. It is that which is most scarce. All other commodities pale in value based on context. The primary motivator of currency is for other humans to spend their time in our regard. Using time as a commodity for currency helps model the natural way in which humans exchange. We all have it. We can all give it. We all receive it from other in our regard. We just have to model it. We do not assume that the time of everyone is equivalent. Because of this the value of good and services aren't fixed by the network itself.(Don't Panic....:) Goods and Services are instead negotiated at the point of sale by either automation through smart contracts or detailed negotiations between users. Because of this we track the market value and description of every good and service sold as an information to our users. Prices may be affected by quality and scarcity as in the real world.