peaq is a Layer 1 blockchain optimized for Decentralized Physical Infrastructure Networks (DePINs) and Machine Real World Assets (RWAs). Its design focuses on empowering a global network of decentralized physical infrastructure and machine-driven services to foster a decentralized positive-sum economy.
peaq operates using a hybrid consensus mechanism combining Delegated Proof of Stake (DPoS) and Nominated Proof of Stake (NPoS) via the Polkadot Relay Chain. It supports both EVM (Ethereum Virtual Machine) and WASM (WebAssembly) based smart contracts for enhanced interoperability. Key components include collators and delegators, which help maintain network security and efficiency. Peaq also utilizes technologies like Decentralized Identifiers (DIDs), multi-sig wallets, and oracle-based data verification.
peaq supports a variety of applications across industries such as autonomous vehicles, IoT and machine-to-machine interactions, logistics, energy management, and broadband networks. It has partnerships with companies like Airwaive to support infrastructure development in connectivity, and integrations with blockchains like Ethereum and Polkadot for enhanced cross-chain functionalities.
Founded in 2017 by Max Thake and Leonard Dorlöchter, peaq originated as a project of EoT Labs. It initially considered Layer 2 solutions on Ethereum before evolving into its own Layer 1 blockchain. Supported by Advanced Blockchain AG, peaq has grown to include over 50 DePIN projects and more than 2 million devices on its network. Its technology emphasizes scalability, interoperability, and environmental sustainability, with the platform currently live and PEAQ listed on major exchanges.