Paymon

Paymon is a young IT-company and also the Blockchain Platform that includes several products in it. The platform is based on DAG (Directed Acyclic Graph) that comes to replace the Blockchain technology (the first crypto project, which used DAG instead of Blockchain is IOTA)[1].

Paymon conducted ICO from 2nd of February to 13th of June, 2018 (https://paymon.org/). The company also provides its own cryptocurrency PMNC (PaymonCoin). [2]

Contents

History

2016. Paymon started as a team of a few students from Yekaterinburg, Russia. At first, Semeyon Gleim (CEO of the company) and Konstantin Poskrebyshev (Co-founder of the company) set up the project in order to develop the new app for IOS and Android that had to allow to make transactions between different Russian bank accounts without commissions. But because of some bureaucratic problems it turned out difficult to collaborate with most of the banks. So, the team decided to work for the cryptocurrency instead of fiat money. [3]


2017. Paymon started with MVP product – Paymon Messenger (PM). They integrated so called “cold” wallets into the messenger, that allowed users to send each other the cryptocurrency (Bitcoin and Ethereum, Paymon Tokens (PMNT) and PaymonCoin (PMNC)). The product became popular quite soon, and the company produced PM on Android and IOS.

https://themerkle.com/55-for-btc-transactions-who-can-change-it/

2018. Paymon launched ICO from the 2nd of February till the 13th of June. During that time, they collected … $ and produced 1 000 000 000 tokens. The company finished the development of their main technology – blockchain Hive.

On 9th of April Paymon launched a charity project in collaboration with charity fund “Zhivi Maysh”. The aim of the project was to help families with children who have health problems, and also to show people that cryptocurrency can be used not only for the black market. “Every coin has two sides, and every person is free to choose whatever he or she wants to do with cryptocurrency. In this case, it can save lives,” says Semeyon Gleim, CEO of Paymon. [4]

Technology

Hive

After the first stage of ICO Paymon took up developing the new blockchain, based on DAG and called this technology Hive.[5]

The main difference between DAG and usual blockchain is that it includes nodes within the graph that can approve the transactions. Nodes in Hive are the simple users of the network. The main idea of Hive is to work in the following way: when a new transaction arrives, it must approve or try to approve two previous ones automatically. Paymon system allows to escape fees that are usually unavoidable in the most popular cryptocurrency technologies like Bitcoin and Ethereum, because there are miners working instead of nodes.

DAG, in fact, makes the creation of cryptocurrency possible without blockchain.[6]

Profit

Profit is the business platform dedicated to owners and businessmen that allows to receive payment for their goods or services in cryptocurrency. At the moment, the platform is not released yet as it is on its developing stage.

References

1. Serjak, Gabriel. https://www.2100news.com/2018/02/19/multifunctional-blockchain-platform-paymon-lunching-ico/ 2100 News. 19 February 2018. 2. https://paymon.org/ Official Paymon site 3. Kaia. https://www.coinstaker.com/what-is-paymon-and-why-is-everybody-talking-about-it CoinStaker. Mar 30, 2018 4. Kunshchikov, Valery. https://66.ru/news/business/202970/ 66.RU. September 26, 2017 5. https://nulltx.com/55-for-btc-transactions-who-can-change-it/ NullTX. April 6, 2018 6. https://coinidol.com/paymon-launches-a-charity-project/ Coin Idol. May 16, 2018 7. https://coinidol.com/reasons-to-invest-in-paymon/ Coin Idol. Apr 25, 2018 8. Tom Clancy. https://www.ccn.com/paymon-blockchain-4-0/ CCN. May 18, 2018

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