Peaq to launch layer-1 blockchain powered by Polkadot, integrating major networks and supporting numerous projects.

From Investing.com

September 2, 2024 1:09:09 pm:

Peaq, a blockchain platform, is set to launch its layer-1 blockchain between September 22 and September 30, aiming to power its native token and bring over 1,000,000 devices and 45+ dapps on-chain. The platform integrates with major networks like Polkadot and supports 30 projects with over 850,000 devices valuing $25 million in assets.

The platform has launched its KREST native token on Kusama for testing, offering holders eligibility for a PEAQ airdrop upon full launch. Its economic model is disinflationary, starting at 3.5% inflation decreasing annually to stabilize at 1%, aiming to revolutionize DePIN applications by integrating IoT with blockchain technology after collaborations with Audi, NTT, and Gucci.

Founded by Till, Leo, and Max, peaq raised $15 million then another $20 million from investors earlier this year. The platform employs a dual consensus mechanism with DPoS for block production and NPoS for verification. Unique modular functions tailored for DePIN applications include self-sovereign machine identities and payment features.

Peaq released a detailed roadmap for its mainnet launch, featuring technical enhancements like MetaMask integration and the Ledger peaq app release for token storage. Key updates include launching a DEX, staking dashboard, UI improvements, and secure custody integrations with Galxe, Particle Network, and Fireblocks. A Tier-1 bridge and stablecoins support cross-chain transactions and trading partnerships.

Read more at Investing.com: Secured by Polkadot, Peaq is set to launch its layer-1 blockchain later this month By Investing.com