Peaq Network is a multi-chain Layer 1 blockchain optimized for Decentralized Physical Infrastructure Networks (DePIN). The platform facilitates scalable transactions for Internet of Things (IoT) devices, offering specific functionality to enable and tokenize machines within the IoT sector. With a commitment to environmental sustainability, Peaq leverages the developer ecosystems of Ethereum and Polkadot, showcasing interoperability within the blockchain ecosystem.
Token Utility:
$PEAQ, like other layer-1 blockchain tokens, serves essential functions on the network: paying transaction fees, facilitating block production through staking, and participating in network governance.
Transaction fees are paid in $PEAQ based on transaction parameters. Without $PEAQ, transactions cannot occur, similar to Ethereum’s dApps.
For network operation, Collators and Delegators ensure block production. Collators stake tokens for node operation, while Delegators choose and support Collators. Governance is decentralized, with $PEAQ holders voting on key decisions.
Additionally, $PEAQ staking can establish machine trustworthiness.
Website: https://www.peaq.network/
Team evaluation: 8
Project rating: 8
Total supply (Max supply): 4,200,000,000
Project risk percentage: 20% - 30%
(TGE) The market launch date: June 2024
Positive Notes:
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Shared Security Model: Peaq benefits from the security and decentralization of the Polkadot Layer 0, utilizing validators and a shared security model across all connected Layer 1s.
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Scalable Throughput: Peaq offers high and scalable throughput, with the capability to handle up to 1,000,000 transactions per second, facilitated by Polkadot 2.0 updates and asynchronous backing.
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Low Transaction Fees: Users enjoy cost-effective transactions on the peaq network, with fees as low as $0.00025, made possible by leveraging the economic security and blockspace efficiency of the Polkadot Layer 0.
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Sustainability Focus: Peaq adopts an environmentally friendly blockchain architecture, as the Polkadot Layer 0 secures the network without relying on energy-intensive mining, contributing to sustainability and minimizing the carbon footprint.
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Developer-Friendly Ecosystem: Peaq leverages the largest and second-largest developer ecosystems in Web3, providing a conducive environment for developers. Support for EVM and Substrate ensures seamless collaboration with Ethereum and Polkadot developers.
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Flexible Smart Contracts: Peaq natively supports Substrate pallets and ink! smart contracts. With EVM compatibility through Substrate’s Frontier, users can deploy Solidity smart contracts or write ink! contracts in Rust, offering flexibility and ease of integration.
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Interoperability: Peaq focuses on interoperability within the broader blockchain ecosystem. The platform’s integration with Ethereum and Polkadot, combined with support for various smart contract languages, facilitates seamless interaction with different blockchain networks.
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Cost-Effective Tokenomics: Peaq introduces a sustainable tokenomics model, with low transaction fees and a disinationary ination model starting at 2.5% and decreasing annually by 10% until stabilizing at 1%, encouraging long-term adoption.
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Security Assurance: The shared security of the Polkadot Layer 0 provides a robust foundation for Peaq, ensuring the integrity of transactions and the overall security of the network.
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Modular Development with Pallets: Peaq enables modular development through Substrate pallets, allowing developers to extend blockchain functionalities like building blocks. The Substrate Marketplace offers a variety of community-developed pallets for added customization and feature expansion.
Negative Notes:
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Website Usability Issues: The website has reported usability problems, particularly on mobile devices. Graphic effects and animations may not work seamlessly, and the overall navigation can be complicated.
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Potential Twitter Bot Activity: The Social Blade analysis suggests potential bot activity on the Twitter account, with two noticeable peaks in followers. Low interactions on tweets and an average of 10,000 views out of 61,000 followers raise concerns about genuine engagement.
Personal Opinion on the Project:
Peaq Network presents an intriguing proposition with its focus on Decentralized Physical Infrastructure Networks (DePINs) and integration with leading blockchain ecosystems like Ethereum and Polkadot. The commitment to scalability and minimal transaction costs aligns well with the demands of the Internet of Things (IoT) sector. The innovative use of multiple tokens, including PEAQ, KREST, and AGUNG, adds a layer of complexity that could foster active participation and engagement within the ecosystem. I think its possible to dump in the launch, but I think the price can recover and can do 5x
Athena DexFi Deal:
15% at TGE, no cliff TGE (June 2024)
6 Month vesting linear
Price: $0.08958
Legal Notice: The information provided on this website is for informational and personal purposes only and is not intended to be financial advice or an inducement to invest in cryptocurrencies. Investments in cryptocurrencies involve significant risks and may result in the total loss of invested funds. Before making any investment, it is advisable to consult a qualified financial advisor and conduct your own thorough assessment of risks and opportunities.
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- No
