Peaq Network (PEAQ) A Decentralized Machine Economy

Peaq Network is a Layer-1 blockchain platform designed to support the Decentralized Physical Infrastructure Networks (DePINs) and Machine Real-World Assets (Machine RWAs). The platform, which launched in November 2024, aims to transform how machines, devices, and infrastructure interact within a decentralized economy. Peaq seeks to create a new ecosystem where devices can autonomously transact and interact without intermediaries, making it a key player in the emerging decentralized machine economy.

Key Features

1. High Performance and Scalability

Peaq Network ensures high throughput, capable of supporting over 10,000 transactions per second (TPS), with aspirations to scale to 100,000 TPS. This impressive performance is made possible by using advanced blockchain technologies like parallelized block production and asynchronous processing, ensuring that the network can scale efficiently as demand grows.

2. Modular DePIN Functions

Peaq’s platform is designed with a modular structure, offering a suite of plug-and-play tools tailored for various DePIN applications. These modules include:

• peaq ID: Assigns decentralized identities to machines for secure interaction.

• peaq Access: Implements role-based access control to enhance security.

• peaq Verify: Provides verification of machine data for transparency and accountability.

• peaq Store: Offers a decentralized key-value storage system for machine data.

• UMT (Universal Machine Time): Ensures precise time synchronization for machines, allowing for nanosecond accuracy.

3. Developer-Friendly Environment

Built on the Substrate framework, Peaq is highly adaptable, offering Ethereum Virtual Machine (EVM) compatibility and support for Rust-based smart contracts. This makes it easier for developers to build decentralized applications (dApps) while ensuring high levels of security and flexibility.

Ecosystem and Use Cases

Peaq’s ecosystem already hosts over 50 DePIN projects across 22 industries, with more than 6 million connected devices. These applications span a wide range of sectors, from agriculture to cybersecurity. Some notable projects within Peaq’s ecosystem include:

• Silencio: A global noise pollution monitoring system with over 900,000 users across 180+ countries.

• Teneo: A social media data crowdsourcing platform with 4 million nodes.

• MapMetrics: A drive-to-earn navigation platform reporting over 41,000 traffic updates daily.

• Farmsent: Empowering over 160,000 farmers to manage their produce distribution more effectively.

• DATS: A cybersecurity platform where 600,000 users contribute computing power for penetration testing and vulnerability detection.

• Bistroo: A decentralized food ordering platform with over $11 million in orders in 2024.

• YOM: A Web3 gaming platform engaging 20,000 in-app users.

• DeNet: A decentralized storage network with over 3 million users, securing 9 petabytes of data.

Tokenomics

Peaq’s native token, PEAQ, plays an essential role in the network’s functionality. It serves as the fuel for transaction fees, staking rewards, and governance. Here’s a breakdown of Peaq’s tokenomics:

Token Distribution

Peaq’s token distribution is designed to ensure decentralization and long-term sustainability of the network. The distribution is as follows:

• Total Supply: 1,000,000,000 PEAQ

• Staking Rewards: 40% (400,000,000 PEAQ)

• Ecosystem and Partnerships: 25% (250,000,000 PEAQ)

• Team and Advisors: 20% (200,000,000 PEAQ)

• Treasury: 10% (100,000,000 PEAQ)

• Public Sale: 5% (50,000,000 PEAQ)

Governance

PEAQ holders have the power to influence the future direction of the network through governance proposals and votes, allowing them to participate in decision-making processes related to the network’s development.

Staking

Users can stake their PEAQ tokens to support the network’s security and performance, earning rewards for their participation. Staking is a vital component of ensuring the decentralized and secure operation of the network.

Transaction Fees

PEAQ tokens are used to pay for transaction fees within the network, incentivizing validators and ensuring smooth network operations.

Token Utility

• Governance: Participation in governance decisions to shape the future of the Peaq Network.

• Staking: Staking PEAQ tokens to validate transactions and secure the network.

• Transaction Fees: Paying for network interactions and securing decentralized applications.

Conclusion

Peaq Network stands at the forefront of the decentralized machine economy, providing the technological foundation to create autonomous, secure, and scalable decentralized applications in various industries. With its high-performance blockchain, modular design, and robust tokenomics, Peaq is paving the way for a future where devices, infrastructure, and machines interact freely and securely within a decentralized ecosystem. As more projects and devices join the Peaq ecosystem, it is poised to become a critical enabler of the machine economy, transforming industries and creating new opportunities in the process.