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Peaq Performance: New Blockchain Aims to Decentralise the Physical World
- The next stepping stone in Web3’s evolution is bringing the power of blockchain tech to the physical world.
- This is the goal of peaq, a Layer-1 blockchain ecosystem looking to harness a global network of decentralised physical infrastructure networks.
- Peaq has already amassed over 50 DePIN projects using its blockchain tech, which boasts impressive throughput and scalability.
- Now, the project’s native token, PEAQ, can be purchased at several crypto exchanges following its launch.
DePIN is the real deal.
Decentralised physical infrastructure networks (DePINs) have taken the cryptosphere by storm, presenting an actionable way to combine real-world facilities and data with blockchain technology.
As a rush of investment and development comes to the industry, peaq, a key player in this space, has announced the official launch of its L1 blockchain and native token.
Peaq plans to become the one-stop-shop for a network of billions of devices and machines – in what they’re calling the Machine Economy.
Related: ETH 3.0: Sharding may return to scale Ethereum to millions of TPS
What is the Machine Economy?
Peaq’s Layer 1 blockchain ecosystem is set to empower a global hub for machine-driven services. The ‘peaqosystem’ already harbours more than 50 DePINs and 2 million+ devices, bringing Web3’s efficiency and transparency to industries like energy, weather, decentralised AI and mobility.
A core element of DePINs is providing infrastructure in a decentralised way – for example, a decentralised, driverless rideshare app. This democratises big industries that are typically controlled by an oligarchy of businesses, allowing greater accessibility, freedom and security for data-driven processes.
DePINs may also fairly compensate participants in a way that other, centralised companies may not.
Peaq’s genesis marks the beginning of a whole new era where Web3 finally gets real. The DePIN revolution will transform the way we run the most critical infrastructure, putting community squarely at the helm.
Till Wendler, peaq co-founder Peaq’s technology is already being used to collect data in navigation, social media and noise pollution studies.
Users are incentivised to collect and distribute real-time, decentralised data thanks to the reward system inherent to DePINs within the peaq ecosystem.
Peaq Wants to Rule the World – But Where to From Here?
Peaq’s new token, aptly named PEAQ, can now be purchased from 12 major exchanges including CoinList, gate.io, Swyftx and KuCoin.
To start with, PEAQ will largely function as an ecosystem token – allowing holders to vote on governance, pay for on-chain transaction fees and earn yield from staking. However, in the future, peaq plans to develop further uses for the coin within the Machine Economy.
Looking forward, peaq intends to continue improving its throughput (which is already an impressive 10,000 TPS), onboarding fiat users and increasing interoperability via DEXs and bridges.
Author
Ben Knight
Ben Knight is a writer and editor from Melbourne with a passion for all things music and finance. He enjoys turning complex topics – especially the technical details of cryptocurrency – into digestible bites that anybody can understand. He acquired his Master’s in Writing, Editing and Publishing from RMIT in 2019 and has run his own creative writing business ever since.
