PeerStream Protocol (“PSP”), an Innovative Delivery Platform for Voice, Video and Data, Presently in Development for Blockchain Integration, Has Been Partially Integrated into the ProximaX Sirius Platform for Real-Time Testing
NEW YORK, NY, Jan. 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- PeerStream, Inc. (“PeerStream,” the “Company,” “we,” “our” or “us”) (OTCQB: PEER), a global internet solutions provider driving adoption of emerging blockchain technologies, today announced that it has launched the software component of PSP that handles secure and private point-to-point data and text routing. As a result of the launch, this functional component of PSP has been integrated into the ProximaX Limited (“ProximaX”) Sirius platform’s public blockchain testnet for developer access.
ProximaX is building a next generation blockchain platform and protocol enhanced with four major functional components: a decentralized database, a decentralized file management system, a consensus layer and a multimedia communications layer. Pursuant to PeerStream’s technology services agreement with ProximaX, PeerStream has agreed to license and integrate PSP as the multimedia communications layer of the final ProximaX Sirius platform, which is expected to launch later in 2019. PeerStream has been building PSP in parallel with the development of the ProximaX Sirius platform by its team. This code is now live on the ProximaX TestNet.
“We believe that this is a major step toward completion of PSP, and significant progress in the fulfillment of our technology services agreement with ProximaX,” said Alex Harrington, CEO of PeerStream. “We are excited about the prospect of showcasing the expanded capabilities of the protocol in the next release of PSP. We are receiving positive market feedback and interest in the integration of video and communication capabilities into ProximaX’s Sirius platform, and continue to work closely with their team towards a completion date later in 2019.”
About PeerStream, Inc. (OTCQB: PEER)
PeerStream is a global internet solutions provider pioneering the real-world adoption of emerging blockchain technologies by developing software, services and applications for corporate clients and consumers. The Company’s Business Solutions group is able to provide advisory and implementation services to enterprise clients to help them meet strategic objectives using blockchain technology. PeerStream also will be supporting clients’ transition to blockchain through license of proprietary software such as PeerStream Protocol (“PSP”), a protocol for decentralized multimedia communications and live video streaming currently in development. For nearly twenty years, the Company has built and continues to operate innovative consumer apps, including Paltalk, one of the largest live video social communities, and Backchannel, a blockchain-based secure video messaging app launched in private beta form in December 2018. PeerStream has a long history of technology innovation and holds 26 patents.
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