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Blockchain company PeerStream (OTC:PEER) seeing progress with client ProximaX

Tony Zerucha

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PeerStream (OTC:PEER), a global internet solutions provider driving adoption of emerging blockchain technologies, today released an update on its collaboration with its Business Solutions client, ProximaX.

ProximaX recently announced it launched the first test network (testnet) of the blockchain layer of the ProximaX Sirius platform. PeerStream has been a contributor to the project since its launch in April, and the foundational testnet launch will provide a platform for future PeerStream software and services.

It is building a next generation blockchain platform and protocol enhanced with three major functional components: decentralized database, decentralized file management system, and multimedia communications. Pursuant to PeerStream’s technology services agreement with ProximaX, PeerStream has agreed to license and integrate its PeerStream Protocol as the layer responsible for providing the multimedia communications of the final ProximaX Sirius platform, which is expected to launch by next summer. PeerStream has been building PeerStream Protocol in parallel with the ProximaX team’s work.

“Deploying the testnet is an important first step towards the launch of the ProximaX production main network, which is expected in 2019,” PeerStream CTO Eric Sackowitz said. “Future TestNet updates will integrate the platform’s differentiating features, such as the live video streaming and communications protocol that PeerStream is providing. We are collaborating on a daily basis with the ProximaX core team and are pleased with the significant progress that has collectively been made.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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