Peaq, a blockchain platform specializing in decentralized infrastructure networks (DePIN), is set to launch its layer-1 blockchain between September 22 and September 30, as announced on its official X account. The new blockchain, secured by Polkadot, will bring over 1 million devices across more than 45 decentralized applications (dApps) on-chain.
Peaq’s blockchain integrates with several major networks, including Ethereum, Cosmos, Binance BNB, and Solana. The platform currently supports over 850,000 machines, vehicles, and devices, managing over $25 million in tokenized assets and backing more than 30 projects.
In preparation for the full rollout, peaq introduced KREST, the native token of its test network on Kusama, to simulate operations. KREST holders will be eligible for a PEAQ airdrop upon launch.
Peaq’s blockchain operates on a disinflationary economic model, starting with an initial inflation rate of 3.5%, which will gradually decrease until it stabilizes at 1%. Founded by entrepreneurs Till, Leo, and Max, peaq aims to integrate blockchain technology with the Internet of Things (IoT). The platform has attracted significant investment, including $15 million from investors like Animoca Brands and Borderless Capital, and an additional $20 million from a CoinList launch in May.
The platform employs a dual consensus mechanism, combining Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification. Block production is managed by collators, while delegators stake tokens to ensure the reliability of these collators.
Peaq’s unique features for DePIN applications include self-sovereign machine identities, machine access control, payment functionalities, and data verification. The platform’s pre-launch version is already live, with several technical enhancements planned, including MetaMask integration, the release of the Ledger peaq app, and the launch of a decentralized exchange (DEX).
Additionally, a Tier-1 bridge will be integrated to support cross-chain transactions, with stablecoins enabled on the platform. Partnerships with exchanges will facilitate trading of peaq tokens and native DePIN assets, marking a significant step forward in the platform’s development.
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