Peaq Network is set to officially launch on November 12, which we have all been eagerly awaiting. This marks an important development in fusing blockchain technology with real-world applications, particularly regarding the Internet of Things (IoT) and management of Machine Real World Assets (RWA).
Let us consider what this means for a decentralized layer-1 blockchain platform aiming to change how we interact with and oversee digital and physical assets in a connected world.
What is Peaq Network?
Founded in 2017 by Till, Leo, and Max, Peaq Network is a blockchain platform that uniquely integrates blockchain with the Internet of Things (IoT). Its main focus is on Decentralized Physical Infrastructure Networks (DePINs) and overseeing Machine Real World Assets (RWA), aiming to address global challenges by merging advanced technology with everyday physical infrastructure. To learn more about Peaq network, check out our extensive coinreport here.
Why are DePIN Builders Attracted to Peaq?
Builders and developers are turning to Peaq for several reasons. The platform supports the launch and operation of applications that oversee and optimize machine data, which is essential for the growth and interconnection of real-world assets like vehicles, machines, and robots.
‘Builders’ can build on the Substrate and Polkadot frameworks, where Peaq can handle around 10,000 transactions and executions per second and is more than scalable for complex and demanding environments.
What Services Does Peaq Network Offer?
Peaq Pay
Peaq Pay is designed to facilitate transactions either between users and machines or between machines themselves. This service ensures that payment is only released once a service has been completed, simplifying the transaction process in a secure environment.
Peaq ID
With Peaq ID, the platform offers decentralized digital identities for any machine, device, vehicle, or robot, utilizing the W3C’s Decentralized Identifier (DID) standard. This allows for verifiable and secure digital identities across the network.
Peaq Access
Peaq Access provides essential control over access within the network. This feature enables developers to oversee user roles and permissions efficiently within decentralized applications (dApps), which is vital for maintaining security and functionality in the Economy of Things.
What Role Does the Peaq Token Play?
The native utility token of Peaq Network, the PEAQ token, serves multiple purposes. It is used to pay for transaction fees, stake for network security and operations, and participate in governance decisions. Additionally, it is part of a reputation system where machine owners can stake PEAQ tokens to guarantee the performance and reliability of their machines.
Where Will Peaq be Listed?
As of 8 November, Peaq has started announcing which listing partners they have acquired. Our partners Bitvavo and MEXC are first among the growing lineup. Additionally, big exchanges such as KuCoin, Bitget, and BingX can also be added to the list of exchanges where you buy the Peaq token from tomorrow on. Peaq stated they will continue announcing listing partners in the upcoming weeks on their X profile.
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