Last November 12th, at 9am UTC, peaq launched with $1B+ in devices, 3M+ machines, and over 50 DePINs across 21 industries. This marks the beginning of a new era in blockchain technology—the Machine Economy. Built on peaq’s specialized Layer 1 blockchain, this ecosystem is designed to connect and empower billions of devices, robots, and machines through Decentralized Physical Infrastructure Networks (DePINs).

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What is peaq?

peaq is a Layer 1 blockchain that focuses on Decentralized Physical Infrastructure Networks (DePINs) and Machine Real-World Assets (RWAs). Its goal is to create a decentralized, positive-sum economy where machines and their human collaborators share ownership and generate value together.

Key features of peaq include:

• High Performance: Capable of handling 10,000 transactions per second (TPS), with plans to scale to over 100,000 TPS in the future.
• Low Costs: Transactions cost approximately $0.00025, making it cost-efficient for real-world applications.
• Developer-Friendly: Supports both Solidity (EVM) and Rust (WASM) smart contracts, making it versatile for builders.
• Interoperability: Bridges with over 30 blockchains, including Ethereum, Polkadot, and Cosmos, ensuring interoperability. 
• Environmentally Friendly: Makes use of eco-conscious blockchain architecture.

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What is the Machine Economy?

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The Machine Economy envisions a world where devices, robots, and other machines operate collaboratively through decentralized networks. These networks, powered by peaq, enable real-world dApps (decentralized applications) to deliver services efficiently.

For example, imagine a fleet of electric vehicles sharing charging stations, a network of community-owned weather sensors, or a decentralized mobile network run by its users. These scenarios all cut out the middlemen, making sure that those who build the systems are the ones who benefit from it. 

At launch, peaq already supports 50 DePIN projects across 21 industries, with over 3 million machines worldwide holding $1B+ in total value. The platform’s reach spans 95% of countries globally, making it one of the most ecosystem-rich blockchain launches to date.

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Why DePINs Are Building on peaq

DePINs are drawn to peaq due to features that cater specifically to their needs. The blockchain offers:

• Modular Functions: Ready-to-use tools like self-sovereign machine identities, peer-to-peer payments, data storage, and AI integration.
• Interoperability: Connectivity with multiple blockchains ensures flexibility for builders.
• Community and Support: Grants, capital support, and a strong community of over 400,000 enthusiasts provide a collaborative ecosystem for innovation.
• Enterprise Collaboration: Partnerships with organizations like Deutsche Telekom and Lufthansa Innovation Hub enhance real-world adoption.

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The Role of $PEAQ in the Ecosystem

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The $PEAQ token is the heart of peaq’s Machine Economy. It serves multiple purposes such as paying for transaction fees, staking, and voting on governance decisions. $PEAQ is currently available on 14 major exchanges, including Bybit, KuCoin, and crypto.com. The $PEAQ token can also be stored in a variety of wallets, such as Metamask, Ledger, SAFE, and TokenPocket. It can also be managed through the peaq Portal, where users can stake tokens to secure the network and earn rewards. 

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Future Plans

The recent peaq launch is just the beginning. In the coming months, the platform will roll out:

• Stablecoin Integrations: Enhancing financial flexibility within the ecosystem.
• Fiat On-Ramps: Simplifying the process of buying and using $PEAQ tokens.
• Decentralized Exchanges (DEXs): Introducing a peaq-native DEX for easy DePIN transactions.
• Machine DeFi: Unlocking new opportunities for machines and their operators.

Several new DePINs are also set to launch on peaq soon, including:

• Silencio: A network of over 350,000 noise-monitoring sensors.
• MapMetrics: A drive-to-earn platform mapping 600,000+ kilometers daily.
• DATS: A DePIN offering community-provided bandwidth powering a Web3 cybersecurity service.
• Roam Network: A decentralized mobile network with 27,000+ active users.
• Teneo Protocol: A tokenization platform with over 400,000 participants globally.

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Looking to make full use of the potential of various devices, peaq changes up DePIN with its Machine Economy. By letting machines work for the community, peaq reduces tiresome work letting people live out the most of their lives. 

As co-founder Max Thake puts it: “Millions of people worldwide will offer goods and services peer-to-peer via platforms they co-own, fundamentally changing how we interact with technology and with each other. DePINs will become so ubiquitous that they will simply be an integral part of our daily lives.”

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