Peerity is a distributed, democratic network designed to give you back control over your shared content and data while building social connections online and offline. Peerity connects without exploiting, rewards creativity without taking away your copyrights, and excludes intermediaries from your social life so you can share, create and contribute without feeling like a product for the big internet industries.
Peerity employs a hybrid technical model that combines blockchain and traditional technology to create a fast and scalable platform. Operations that require trusted consensus (such as token movements, payments, etc.) take place on the blockchain. For other operations (rendering web pages and other business logic), Peerity runs more like a traditional web application.
In other blockchain-based applications, there are “miners” for Proof of Work (PoW) blockchains or “witnesses” for Proof of Stake (PoS) blockchains that handle updates to the blockchain. Proof of Work has been heavily criticized as being wasteful and hard to scale. Millions of CPU and GPU cycles are being dedicated to the creation and maintaining of these chains. By using Tendermint, peerity can drastically reduce computing requirements. The Peerity consensus engine is based on the sound principles of Tendermint, with an added layer of PoS to allow for the minting of the Peerity token. The Tendermint consensus algorithm has shown to be robust even under extreme conditions with an extremely high transaction throughput.
Peerity will come with a variety of tools and distributed web services, some being already built by Peerity developers, but majority offered by tested & approved providers. Every user will have an opportunity to provide services like image rendering, ID confirmation, cloud storage, etc. directly to users, and getting paid for it with PEER tokens.
Peerity will offer a large marketplace for all kinds of services, products, and businesses, from e-commerce to art expositions and live events. We aim at connecting people directly with the opportunity and circumventing the expensive tech gatekeepers and intermediaries who increase the costs and lower revenues for the actual service providers or product manufacturers.
Unlike Amazon and other cloud providers, Peerity Web Services will be distributed and tokenized. Users of peerity will be able to provide resources to the network as service providers, using the Peerity Service Clients that will be made available. Instead of the internet being increasingly controlled by a few large firms who act as gatekeepers, those same services will again belong to the greater internet through P2P service offerings.
Being a service provider will be as simple as using the client, tying that service offering to your wallet, and staking tokens as part of the Peerity SLA to users.
One of the biggest issues halting the widespread adoption of cryptocurrencies is the hurdles users have to take to be able to obtain the coins. This is a limiting factor on the usability of cryptocurrencies in general. By distributing Peer tokens to the active users of the Peerity platform, lower the barrier for the average person to obtain crypto tokens.
When it comes to new users entering the cryptocurrency world, there is a mental barrier to entry where people assume they don’t have the required knowledge to effectively and efficiently use crypto tokens. For this reason, aim to provide an intuitive user interface and tutorials and guides for peerity users on how to use tokens. Peerity have seen in other projects that once tokens are obtained by users, they educate themselves on how to use them. We expect to see the same with Peerity.
When users generate social activity on the platform, they are rewarded with Peerity tokens based on the quality and value of that action. Different activities will be scored differently as online and real-life behaviors have different ways of being measured.
With Peerity team hope to bridge the gap between mainstream social media users and cryptocurrency users. Peerity will do this a few different ways. First, give the token intrinsic value because the Peerity token will be able to be used to purchase site features (such as a custom domain or form private groups) as well as for use in e-commerce and crowdfunding projects.
80% of the tokens will be made available in public fundraiser event. Everyone will be able to purchase tokens at that time. Peerity will create a fundraiser platform where everyone can buy the Peer tokens with a multitude of different cryptocurrencies. We will be providing more information about this public fundraiser soon.
Please note that token is not a security, is not listed, authorized, issued, or traded on any regulated market. Peerity do not guarantee that the value of tokens will increase.