January 17, 2023

Our New Year Resolutions for 2023

In a nutshell: If 2022 was the year when we built up the launchpad, then 2023 is takeoff. If conditions permit, it will be the main rocketship, if not, the first unmanned test flight for sure. We will work to expand the peaq ecosystem, build up the existing partnerships and integrations, work closely with the consortia that we’re involved with, and much more.

This year, we will hit the gym, for realsies. We’ll stop playing League of Legends during our Zoom calls, we’ll stop with the coding all-nighters, we’ll learn to disconnect from the crypto market every now and then, and we most definitely won’t be buying any NFTs. Okay, maybe just a few, just maybe… Oh, wait, wrong list.

Jokes aside, we have some big plans for the coming year and are beyond excited to share them with you. As we said in the 2022 wrap-up (here it is, in case you missed it, it’s worth checking out), last year helped us build the foundation for a takeoff with a funding round, exciting partnerships, and more under the belt. Now, as we turn the calendar’s page, it’s time to ready that rocket ship.

Without further ado, here are some key developments to expect in 2023.

Reaching for the krest

Just the other day, we announced the plans for launching krest, peaq’s canary network, as a parachain on Polkadot’s Kusama. Just as Kusama is a dynamic, live-fast-die-young cousin network for Polkadot, krest will be the same to peaq, working as grounds for simulating the Economy of Things (EoT) with real-world IoT devices such as Raspberry Pis. 

Wen, you may ask? A bit too early to say at this point, but you can be sure that we’ll keep the community posted on all developments around this network. We intend to have it up and running on Kusama this year. So if you’re not following peaq, now’s the best time to change that. Don’t be a stranger and head to the peaq community hub.   

An exciting thing to know about krest at this point is that you may want to get yourself a Raspberry Pi or two. You see, everyone building on peaq will need devices to simulate machines, vehicles, and robots. A modest Raspberry is quite capable of doing that, but it won’t sync up with krest on its own, even though that’s a matter of a few clicks. So this is where the community can step in and join the EoT simulation hub — and earn from it, too. Early adopters, be ready for more info on this in February. Mark them calendars! 

A piece of the pie for everyone

While we’re at it, let’s get excited about krest for another reason — the social experiments, which would have been impossible on a regular testnet. Yeah, we already briefly mentioned them in the previous section, but let’s lift the veil just a little higher over this one.

The very first experiment we’re hoping to run on krest next year has a lot to do with some of the key thought pillars that the entire vision behind peaq rests on. From robots handing the stuff you order on Amazon to an AI beating human artists in a competition, automation is wading into more and more professional fields. Soon, more and more humans will be left starving by machines working 24/7 to create value for a select few people profiting from a select few companies. Some may argue that universal basic income is the answer, but we disagree. It’s not about the powers that be tossing a coin or two to the people, the real answer is about the people — all people — owning a stake in this Economy of Things. At krest, we will put this answer to its first test. 

Think you know what we’re hinting at? Sound off on Twitter!

Getting hands-on with the EoT

Another reason to be excited about krest is that some of the upcoming software releases will be building up on it to add extra features and functions that will enable the peaq community to live out the digital rendition of the Economy of Things. What’s in the works? A digital tool that will enable the peaq community to connect their devices with the krest network and create their unique machine IDs. It will be possible to try it out without having to actually buy something along the lines of a charging station for electric vehicles. If you happen to have one lying around in the shed, though, we’d be happy to see it on peaq, just saying.

As the peaq community gets to play around with the network, so will the B2B partners, leveraging all the connected devices to test their dApps with real-world IoT connectivity. There’s a lot of exciting stuff slated to happen within the €20+ mln. moveID consortium, which includes such leading industry names as Bosch, Airbus, and DENSO. peaq is one of the two layer-1 blockchains involved in the project. Something very real-world is in the works, something very energizing and moving, dare we say. Stay tuned, especially in Q3 of 2023, as the decentralized Economy of Things we envision grows more and more real by the day.

Growing the ecosystem

In the past year, we announced an array of exciting partnerships with some of the leading names in the Web3 space such as Ocean Protocol and AllianceBlock. In 2023, the peaq ecosystem will continue to expand, with the peaq Foundation’s grants available to all those looking to build the Economy of Things on the network.

You can expect more projects coming to build all sorts of machine-powered dApps on peaq, including some of the stuff we have already been hinting at as well as new and daring use cases. New integrations will bring new tools to developers choosing peaq as their home, adding to the network’s core functions, and new layer-2 projects will open up new opportunities for users. 

NFTs that are more than jpegs

Some jokes come to bite you in the back, and this very much goes for the one about NFTs in the beginning. Yes, this year will be the year of NFTs on peaq, but hold your horse (or apes), it’s not about selling and reselling jpegs, if anyone is still doing that. The Machine NFTs function as representation of the holder’s stake in a specific pool of connected devices running on peaq. In the future, Machine NFTs will also enable fractional ownership over mission-specific machine fleets and even individual machines. By holding one of such NFTs in your wallet, you will regularly receive a fraction of the device fleet’s earnings as it generates real-world value.

Machine NFTs enable fractional ownership over connected machines and as such, work as humanity’s bulwark against the ills of automation — you know, scenarios where the few profit at the expense of thousands losing their jobs. Leveraging Machine NFTs, communities will be able to run global, borderless fund-raising to acquire fleets of machines they wouldn’t have otherwise been able to afford, be it telecom hardware or connected vehicles. These tokens are coming to the peaq app this year alongside other exciting new features coming with updates. We will also be working on polishing off the network’s core Modular DePIN Functions — peaq ID, peaq access, and peaq pay — to guarantee their maximum functionality and optimal performance.

All hands on deck!

As we head for the peak, there’s still a lot of work to do — and we are now looking into new ways for the community to get hands-on with rewards in tokens for specific tasks and activities. Think of it as quests in a role-playing video game: We put up the bounty for slaying the dragon, you check it out, and if you decide the reward’s worth the hassle, you go and show that lizard who’s the boss. Only the bounties are displayed on a handy dashboard on a decentralized gig platform, not a Medieval-looking parchment, and there’s no endangered lizards involved.  

The quests we’ll be putting out through the decentralized platform will spread across a variety of areas, from coding to producing educational content about the peaq ecosystem, so whatever your skillset is, you’ll probably find something for yourself. Wanna write a Medium post about peaq? Go for it, and have some tokens for the effort! Always dreamt of being a YouTuber? We’ll reward you handsomely for video tutorials about peaq.    

More information on this front will be shared in early February. Got experience with this sort of thing? Let us know on Twitter.

So, you in?

Let’s go. 

Build the Economy of Things.

There are open positions at EOT LABS, from engineering to communications. Start the new year with a new job and build the Economy of Things with us.

Are you interested in building a dApp for vehicles, robots, devices and other machines? Get inspired, get funded, and start building today.

Want to stay in the loop? Join the conversation on our channels.

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