Peaq Blockchain Platform Launching Layer-1 Blockchain in September
Peaq, a revolutionary blockchain platform focused on decentralized infrastructure networks (DePIN), is gearing up to launch its layer-1 blockchain between September 22 and September 30. This exciting development was announced on the official X account of Peaq.
Secured by cutting-edge technology, Peaq is poised to unleash its native token and bring over 1,000,000 devices across 45+ decentralized applications (dapps) onto its blockchain upon launch. In addition to integrating with major blockchain networks like Polkadot, Cosmos, Binance BNB, and more, Peaq currently boasts over 850,000 machines, vehicles, and devices, managing a whopping $25 million in tokenized assets and supporting over 30 projects.
Peaq recently introduced KREST, the native token of its test network on Kusama, allowing holders to participate in a PEAQ airdrop upon the platform's full launch. The blockchain's economic model is designed to be disinflationary, with an initial inflation rate of 3.5% that will gradually decrease to stabilize at 1% annually.
Founded by visionary entrepreneurs Till, Leo, and Max, Peaq aims to revolutionize the integration of blockchain technology with the Internet of Things (IoT). Through collaborations with esteemed companies like Audi, NTT, and Gucci, the founders developed Peaq as a dedicated layer-1 blockchain to support unique decentralized applications.
In 2021, Peaq focused on supporting DePIN applications, raising significant investments from notable firms like Animoca Brands and Borderless Capital. The platform utilizes a dual consensus mechanism comprising Delegated Proof of Stake (DPoS) for block production and Nominated Proof of Stake (NPoS) for verification, with collators creating blocks and delegators staking tokens to ensure reliability.
Peaq stands out with its modular functions tailored for DePIN applications, including self-sovereign machine identities, machine access control, payment features, and data verification. The platform's roadmap includes technical enhancements like integration with MetaMask and Ledger, as well as the launch of a decentralized exchange (DEX) and staking dashboard for Peaq nodes.
Exciting developments like a Tier-1 bridge for cross-chain transactions, stablecoin integration, and partnerships with exchanges are on the horizon for Peaq. These initiatives will facilitate seamless trading of Peaq tokens and native DePIN assets, creating new opportunities for investors and enthusiasts alike.
In conclusion, Peaq's upcoming layer-1 blockchain launch signifies a major milestone in the realm of decentralized infrastructure networks. With its innovative technology, strategic partnerships, and ambitious roadmap, Peaq is poised to disrupt the blockchain industry and shape the future of decentralized applications. Investors and users should keep a close eye on Peaq's developments, as they have the potential to impact financial markets and revolutionize the way we interact with blockchain technology.
