PEER INC. ANNOUNCES MAIN NETWORK LAUNCH OF THE WORLD'S FIRST BLOCKCHAIN DEDICATED TO BUILDING THE METAVERSE

Sustainable footprint and ease-of-use are designed to appeal to developers and consumers

SEATTLE, March 17, 2022 /PRNewswire/ -- Peer Inc. has launched the main network of its patent-pending blockchain. The Peer blockchain will be the world's first distributed ledger that's designed specifically to support the growth and development of Web3 and the metaverse. It boasts incredibly high transaction speed, fast settlement, enhanced security, and near-zero fees. Designed to meet the demands of the next digital economy, the company is positioning its mainnet as a key enabler for the metaverse's emergence.

"The sooner we deliver a complete suite of blockchain products, services, and resources to make it easier for builders and creators to contribute to the metaverse and earn from it, the sooner we will have an actual metaverse," said Heath Abbate, Chief Operating Officer of Peer. "All the raw materials will be accessible to anyone who wants to participate. The metaverse, like the web before it, needs contributors and collaborators to grow."

Peer's patent-pending multi-blockchain implementation is expected to reach speeds of millions of transactions per second through dynamic horizontal and vertical scaling. Aside from its incredible speed, Peer's blockchain uses Nominated Proof-of-Stake to deliver scalability and cross-chain compatibility with a sustainable footprint. Developers will soon be able to build decentralized applications on top of Peer using Rust, an open-source systems programming language designed for outstanding concurrency, speed, performance, and reliability.

Tony Tran, Peer's Founder and CEO said, "At present, there is no coherent vision of the metaverse, and no foundational technology framework exists to enable its construction. We are building that framework now."

Tran envisions the metaverse as a three-dimensional fabric that connects the digital world and the physical world to create a powerful and vast global digital experience that's much larger than the web today. This fabric, which he calls the Orthogonal Fabric, will be driven by blockchain applications and accessed through the new software and hardware user interfaces that Peer will be launching soon. "Peer is making it possible for the world to become a super user interface," said Tran. "Technology is about to change faster than anyone can predict and bigger than anyone can imagine."

The Peer blockchain was deployed on February 22, 2022, with a pre-mined total supply of 2.1 billion Peers and uses the ticker symbol $PMC. The coins will serve as a utility, store of value, and unit of exchange in the metaverse.

To experience the Peer blockchain, please visit https://explorer.peer.inc.

About Peer Inc.
Peer is a metaverse technology company that specializes in consumer electronics, software and blockchain services. Peer's mission is to enable mass adoption of the metaverse and to advance humankind by developing innovative hardware, software, and services for a decentralized world.

To learn more, please watch Metaverse Rising with Tony Tran and follow us on Twitter @peerniverse.

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SOURCE Peer Inc.