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Peaq's Innovative Blockchain Platform Set to Launch Layer-1 Blockchain

Explore Peaq's upcoming layer-1 blockchain launch, designed to enhance decentralized infrastructure networks with unique features and integrations.
Published on 2024-09-02

Peaq's Layer-1 Blockchain Launch

Peaq, a pioneering blockchain platform focused on decentralized infrastructure networks (DePIN), is gearing up for the launch of its layer-1 blockchain between September 22 and September 30. This development is a significant milestone for Peaq, which is secured by Polkadot and aims to bring over 1,000,000 devices across more than 45 decentralized applications (dapps) on-chain.

Integrations and Token Ecosystem

Peaq integrates seamlessly with major blockchain networks such as Ethereum, Cosmos, Binance BNB, and Solana. Currently, the platform manages over 850,000 machines, vehicles, and devices, with more than $25 million in tokenized assets, supporting over 30 projects. The launch of KREST, the test network's native token on Kusama, allows for operational simulations, with KREST holders set to receive a PEAQ airdrop.

Economic Model and Founding Vision

The blockchain's economic model is disinflationary, starting with a 3.5% inflation rate that will decline annually to stabilize at 1%. Founded by entrepreneurs Till, Leo, and Max, Peaq aims to integrate blockchain technology with the Internet of Things (IoT), collaborating with industry leaders like Audi, NTT, and Gucci.

Innovative Consensus Mechanism

Peaq employs a dual consensus mechanism combining Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification. This approach ensures network reliability through collators and delegators working together.

Modular Functions and Roadmap

Unique modular functions are tailored for DePIN applications, including self-sovereign machine identities, machine access control, payment features, and data verification. Peaq's roadmap outlines several upcoming technical enhancements, such as integrating with MetaMask, releasing the Ledger peaq app, and launching a decentralized exchange (DEX).

Future Integrations and Partnerships

Peaq's future plans include a Tier-1 bridge for cross-chain transactions, enabling stablecoins, and partnerships with exchanges to facilitate peaq token and native DePIN trading. These strategic developments underscore Peaq's commitment to advancing decentralized infrastructure networks.

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