The growth of ICO has given numerous company an opportunity to raise money effortlessly. With the increase in popularity of ICO in 2017 Peer Mountain is given birth to be among the many who created token or coins and sold to the masses for profit.
ICO does not need an intermediary to interfere when a transaction completes. The value of the economy determines the value of the coin. Thus, there is the possibility of increasing the value of that token if the economic value fluctuates, raising the price value to a higher level.
KYC3 which was born in 2014 leads Peer Mountain, and it acts as the service provider. Peer Mountain which uses blockchain technology is often known as the first decentralized platform that creates a token. Peer Mountain uses cryptographic protocols. This protocol allows users to create and own a trusted record that holds digital identity, including a trust relationship and proof of activity.
With the partnership with Syscoin, Peer Mountain aims to make exchange system much simpler. As Syscoin works as an infrastructure for commerce and Peer Mountain as the protocol for trust, the two look forward to the best. Recently on September Peer Mountain partnership with BRD offers direct access to 1.4 Million BRD Wallet users. Thus, the collaboration gave BRD possibility of buying PMTN which is in exchange for ETH.
Peer Mountain as an Initial Coin Offering
The Peer Mountain token is known as PMTN. This token is called a utility token that measures the value of trustworthiness within the Peer Mountain ecosystem. Likewise, PMTN is transferred to the entities that the customer trusts the most, as ‘trust’ itself plays a significant role in using cryptocurrency. Hence, the only way to earn PMTN is by being trustworthy.
Peer Mountain token sale accepts Ether. On the network blockchain, it was estimated to be ERC-20 compatible token. According to the Whitepaper, 50,000, ETH is intended to be raised. The PMTN price is 2917 PMTN/ETH, and then the total percentage sold is 40%.
The reason why Peer Mountain is notable is that it is a cross chain capable technology. This primary chain allows the movement of information from one chain to another. The token of Peer Mountain is often treated as fungible. If this happens then, the token will divide as “as product costs will remain fixed in fiat terms but will decrease in token terms”(Peer Mountain Whitepaper).
The customer, the service provider, and the certificate provider are the three components that run within the Peer Mountain ecosystem. Furthermore, the founder invented the token in a manner that the attestation provider, invitation, and service offerings are available, enabling the issuers to gain a higher income if the attestation generates a high level of trustworthiness.
The system of Peer Mountain is peer-to-peer. This result in the ability to play the part of a customer, service provider or certificate provided by the client. With the increase in the transaction, there is a promotion of the economy velocity. Peer Mountain has, therefore, the growth is yet to begin.