peaq (PEAQ): Powering the Future of Machine Economy
What is peaq (PEAQ)?
peaq (PEAQ) is a specialized blockchain platform that enables the creation of Decentralized Physical Infrastructure Networks, also called DePINs. Simply put, peaq is helping to create systems where machines can work together, share data, and even earn money. This could be anything from self-driving cars in a city that communicates with each other to make traffic flow more smoothly, to smart devices like drones and robots that perform complex tasks and report data back to their operators.
peaq’s platform also allows machines to operate autonomously and connect directly with one another without the need for a centralized authority. Unlike traditional blockchain networks, peaq is designed for physical devices. For example, imagine a community-owned network of autonomous taxis, where people earn rewards by helping the network grow and operate. peaq enables these types of decentralized networks on a large scale and helps machines run on the blockchain, not just in land-based devices but even across domains like sea, sky, and space.
Who Created peaq (PEAQ)?
peaq was founded by two innovative minds: Max Thake and Leonard Dorlöchter. Thake is a serial entrepreneur with a passion for the Machine Economy and a co-founder at Sigma², a venture building firm. He has built a solid reputation within the tech world, gathering thousands of followers for his innovative ideas and work. Dorlöchter, his co-founder, also has deep roots in the blockchain world and has been committed to exploring how blockchain can be applied to real-world infrastructure.
What VCs Back peaq (PEAQ)?
Backing a project as ambitious as peaq requires not only a strong team but also significant financial support from investors who see its potential. In March 2024, peaq announced a large, multi-tranche funding round, led by Generative Ventures and Borderless Capital. Many other notable venture capital firms have joined the funding, including CMCC Global, Spartan Group, HV Capital, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs, Crit Ventures, Cogitent Ventures, NGC Ventures, Agnostic Fund, Altana Wealth, LBank Labs, Protein Capital, Token Metrics, etc.
How peaq (PEAQ) Works
peaq’s blockchain platform provides the tools for developers to build DePINs, which are decentralized apps (dApps) and protocols designed for various machines and devices. It also offers a system for Machine DeFi, a new type of decentralized finance created specifically for machines. Machine DeFi allows machines to trade, earn, and manage assets independently. Here’s how peaq’s two main components—DePINs and Machine DeFi—work.
1. Decentralized Physical Infrastructure Networks (DePINs)
DePINs use blockchain technology to connect machines in a way that is secure and efficient. Through peaq, developers can build applications for machines in all four domains—land, sea, sky, and space. The purpose of DePINs is to use tokens, a type of digital currency on the blockchain, to encourage people to deploy hardware (like sensors, robots, or vehicles) that will help create physical networks.
peaq offers a wide range of use cases across multiple industries. Here are some examples:
● 5G Networks: Community members can contribute to building high-speed 5G networks by deploying physical infrastructure.
● AI Data Marketplace: Users can sell their data to companies working on artificial intelligence and large language models.
● Autonomous Taxis: People can help build community-owned fleets of self-driving taxis, which would operate without a central authority.
● Air Quality Monitoring: Community-sourced sensors monitor pollution and air quality in real-time.
● Electric Bike and Scooter Sharing: Bikes and scooters can be shared within a community without relying on a single company.
These applications make it possible for communities to own and manage their own resources, with the blockchain ensuring that everyone involved is compensated fairly. peaq is creating an environment where physical networks are crowd-sourced, and people or businesses benefit from participating.
2. Machine DeFi
While DePINs connect machines, Machine DeFi allows machines to manage their own finances. Imagine machines that can earn tokens by working, then use those tokens to pay for maintenance, upgrades, or even rent equipment from other machines. This financial freedom for machines could greatly enhance their ability to operate autonomously and reduce the need for human intervention.
Here are some of the main ways that Machine DeFi could be used:
● Decentralized Energy Markets: Machines like solar panels and electric car chargers could directly connect with buyers, allowing them to sell energy and contribute to a more eco-friendly power grid.
● Machine Crowdfunding: Machines or projects can be funded by a community, allowing for investment in future machine-based projects.
● Decentralized Insurance: Machines could be insured by a community-governed platform, ensuring that risk is shared and managed fairly.
● Machine Liquidity Mining: Machines can contribute their resources to liquidity pools for other decentralized services, earning tokens in return.
● Machine Lending and Borrowing: Machines could lend out their computing power or storage space to other machines, which would pay them in tokens.
This decentralized approach to finance allows machines to operate on their own, without needing to rely on banks, brokers, or other traditional financial institutions.
PEAQ Goes Live on Bitget
Buying the PEAQ token on Bitget offers several compelling reasons for investors interested in blockchain infrastructure and machine economy projects.
First, PEAQ provides essential utility on the peaq blockchain, enabling users to pay transaction fees and participate in governance decisions directly on the platform. The demand for transaction fees is expected to grow as peaq supports billions of transactions from machines, vehicles, and devices across its DePINs.
Additionally, PEAQ holders can participate in staking, supporting network security and earning rewards by backing Validators responsible for block production. This staking model creates a system of incentives for honest network operations while allowing Delegators to manage their choices and influence active Validators.
Furthermore, as a native Layer-1 token, PEAQ is designed to follow a disinflationary model, with a decreasing inflation rate that will stabilize at 1%, providing a long-term incentive for early adopters.
Overall, PEAQ serves a critical function within the network, offering opportunities for governance, staking, and network participation that could appeal to both technical and financial users.
PEAQ on Bitget Launchpool
There's more! From November 12 2024, 09:00 – November 19 2024, 09:00 (UTC), you can grab a share of 12,125,000 PEAQ through Bitget Launchpool:
● Activity 1 - Normal Pool:
○ Existing users of Bitget Launchpool can lock at least 5 BGB and grab a share of 10,250,000 PEAQ.
● Activity 2 - Beginner Pool:
○ New users of Bitget who sign up after November 11, 2024, 10:00 (UTC) can lock at least 5 USDT to grab a share of 1,875,000 PEAQ.
For more specific information on how to get PEAQ tokens on Bitget Launchpool, check out the announcement here.
Lock BGB and USDT to Get PEAQ now!
Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.
