Peaq Blockchain Platform Launches Layer-1 Blockchain with Unique Features
Peaq, a blockchain platform focusing on decentralized infrastructure networks (DePIN), is gearing up to launch its layer-1 blockchain between September 22 and September 30. This announcement was made on the official X account of peaq.
Secured by cutting-edge technology, peaq aims to power its native token and bring over 1,000,000 devices across 45+ dapps on-chain with its launch. In addition to integrating with Polkadot, peaq also collaborates with major blockchain networks like Cosmos, Binance BNB, and more. Currently, the platform manages over $25 million in tokenized assets and supports over 30 projects with over 850,000 machines, vehicles, and devices.
The platform has introduced KREST, the native token of its test network on Kusama, to simulate operations before the full rollout. KREST holders will be eligible for a PEAQ airdrop upon the platform’s launch. The blockchain’s economic model is disinflationary, with an initial inflation rate set at 3.5% that will gradually decrease to stabilize at 1%.
Founded by entrepreneurs Till, Leo, and Max, peaq plans to revolutionize blockchain technology by integrating it with the Internet of Things (IoT). After successful collaborations with companies like Audi, NTT, and Gucci, the founders developed peaq as a dedicated layer-1 blockchain to support unique decentralized applications.
In 2021, peaq was established to support DePIN applications and has garnered significant investments from various sources. The platform employs a dual consensus mechanism with Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification.
Peaq’s roadmap includes technical enhancements such as integrating with multi-signature wallet MetaMask, launching a decentralized exchange (DEX), and releasing the Ledger peaq app for token storage. Additionally, partnerships with exchanges are on the horizon to facilitate trading of peaq tokens and native DePIN.
In conclusion, peaq’s innovative features and strategic partnerships position it as a promising player in the blockchain space. Investors and enthusiasts should keep an eye on peaq as it continues to evolve and make waves in the decentralized infrastructure network ecosystem.