Peer Inc., a technology company focused on consumer electronics, software, and services for the metaverse, is announcing the successful launch of its Andromeda testnet. The launch is a key milestone for Peer’s patent-pending multi-blockchain implementation, which is expected to reach speeds of millions of transactions per second to support its novel metaverse ecosystem in the near future. Peer has also released a new family of products for its ecosystem, which includes a blockchain explorer, custodial wallet, non-custodial wallet, atomic swap, and web3 naming service (WNS).
“This is the beginning of what will ultimately be a vast network of decentralized products and services,” said Peer Founder and CEO, Tony K. Tran. “Speculation about the metaverse is more noise than signal at the moment, but that will be changing in 2022.”
“We are not just building typical DeFi solutions,” said Peer’s Chief Operating Officer, Heath Abbate. “Instead, we are developing an entire ecosystem that transcends today’s distributed ledger offerings. The Peer blockchain is the backbone for our vision of the metaverse.”
In 2021, Peer unveiled its vision and initial roadmap for the metaverse. According to Tran, the metaverse will emerge in three stages: the Social Metaverse, the Ambient Metaverse, and the Singularity Metaverse. “We have a good idea how we’ll be driving the emergence of each of these stages by looking at where technology has been in the past and vectoring out where it will go next,” said Tran. In 2021, Peer raised more than $12M in pre-seed funding to accelerate the emergence of the metaverse.
About the Peer blockchain
Peer is a smart contract operated blockchain that uses Nominated Proof-of-Stake to deliver fast network speed, high scalability, and cross-chain compatibility on a sustainable footprint. The Peer blockchain is designed for daily use, and its founder believes its ease of use will bring more people to blockchain technology than ever before.
Because the blockchain and cryptocurrency space is highly technical, it can be overwhelming for novices to get onboard. A core tenet of Peer’s offering is to remove the complexities of blockchain technology so everyone can have an opportunity to create, develop, and try blockchain innovations. “We’re going beyond the hype associated with the speed at which transactions can be processed, which a lot of blockchain projects overemphasize,” explained Tran. “It wasn’t speed that brought people to the early internet. People were willing to crawl across cyberspace because it was useful. We are focused on bringing real, coherent products to market that people will use and love.”