Cryptocurrencies have faced heavy price slumps and loss in credibility due to the recent heists of exchanges causing people to doubt the security measures employed to secure the clients' assets. To maintain credibility countermeasures have to be put in place so that security concerns hamper the booming cryptocurrency industry and stop the growth of blockchain and its implementation in various upcoming industries. This is where PeerMountain is stepping with the simple ideology to create a decentralized peer-to-peer marketplace network to set up a network that connects sovereign identity owners.
HOW WILL PEERMOUNTAIN ENSURE SECURITY AND TRUST
Cryptographic protocols allow people and institutions for creating and owning a trusted record that encompasses digital identity, trust relationships and proof of activities. Members have the ownership and control of their data and they have the monopoly over who gets access to it and unexposed to third parties at all times, even the platform cant access the data of the members.
In sectors other than financial services peermountain can act as a platform for distribution of trusted facts( e.g. employees can imply they're sick and HR could attest to this after verification for the doctor's certificate.
THE INTEGRAL TOKEN ECOSYSTEM
How do you distinguish the trust levels and their trustworthiness within the peermountain ecosystem? For this the PMT (Peer Mountian token) will be used to measure the level of trust they've earned from their transaction and activity history on the platform, PMT's will be used to consume attestations and generate invitations. The ecosystem works on three components:
- Mobile end user
- Enterprise back
- Attestation engines(certificate providers)'
The token model is essential for maintaining PeerMountain's ecosystem for attestation providers, invitations and service offerings. Every time an attestation is used for establishing trust in a relationship as part of a dossier, the provider of that attestation will receive a micropayment in PMT. So higher the trustworthy attestations generate the higher income for their issuers. Operating solely as a peer-to-peer network no client can play all or any of the three roles. Service providers can provide attestations to widen their revenue streams.
TOKEN SALE (ICO)
PeerMountain will apply a smart cap instead of targeting a hard cap accomplishing following targets
- Eliminating the pre-sale and transparency to the token sale process
- Installs a price discovery mechanism for the sale
- Increases the supply as well as the price of tokens algorithmically to satisfy price and demand
- Large investors are rewarded by placing them in the front of the queue at the beginning of each round
The principle of the SmartcapTM is straightforward. The sale proceeds in sequential rounds of fixed amounts of tokens at a fixed price. Orders are accepted for the round. When the order quantity exceeds the number of tokens in the round, the round closes. The closing procedure sorts the orders from largest to smallest and fills them in this order, i.e. larger purchases get priority for the round.
THE CHALLENGES TO THE TRANSPARENCY MISSION OF PEERMOUNTAIN
- Government's of many countries have banned token issuances with many offering very vague and inconclusive rulings.
- Slow consumer adoption is another challenge even though peermountain is offering the highest degree of security and sovereignty over identity.
- Governments plan to regulate the issuance and ownership of identities to regulate and issue identity information, for complete transparency and identity sovereignty, the challenge is to get the countries to collaborate and agree on how to issue and hold identities that are accepted universally.
PEERMOUNTAIN TO ENSURE BLOCKCHAIN TRANSPARENCY AS WELL AS SECURITY?
In the phase of cryptocurrency's infancy and its boom period where the world is still preparing itself for the digital currency, security is a major concern where not all regulations are uniform over all diversities, so peermountain has a plan set up to completely remove any third parties including itself and build relationships based on trustworthiness. A platform for completely secure and transparent trading of information and data is a step ahead in global acceptance of blockchain and cryptocurrency.
Website : http://www.peermountain.com/
Whitepaper : https://www.peermountain.com/peermountain-whitepaper.pdf
Contact: dannywhelan (dannywhelan0200@gmail.com)
Profile: https://bitcointalk.org/index.php?action=profile;u=1606458