What is happening?
Building on the previous integration with Fetch.ai, peaq is unveiling multi-chain Machine Identities that leverage Fetch’s AI agents to enable data exchanges between Polkadot and Cosmos ecosystems. The tens of thousands of vehicles, robots and devices on DePINs (Decentralized Physical Infrastructure Networks) on peaq can now interact with machines across the Polkadot and Cosmos ecosystem via Fetch.ai's autonomous AI agents with ease.
Why does it matter?
Web3 cannot exist as a collection of siloed networks — its future is multichain. Multi-chain Machine IDs advance this vision, enabling communications between devices on Polkadot and Cosmos.
What does it mean for the community?
By extending its functionality across multiple multi-chain blockchain ecosystems, peaq opens the way to more project integrations, more liquidity flowing in, more network activity, and ultimately, more value for the community.
This isn’t the kind of AI rebellion they show in the movies, you think as you once again tell your electric vehicle to connect to the charger. It’s there, it’s empty and available, and so are the two chargers next to it, but for your vehicle, they’re basically invisible. The story repeats itself at another station, and as you drive to the third one, you have to jerk the car sideways to avoid collision with an auto-truck that seemed completely oblivious to its existence.
The above is an Economy of Things where different things — chargers, vehicles, robots, devices — ran on different blockchains, which didn’t communicate between one another. That’s an Economy of Things that we would love to avoid, as we believe that it belongs on a connected, multi-chain Web3, freed from the siloed ecosystem thinking of the Web2 era. “Sorry, Mario, your princess is on another blockchain,” just won’t do, data must flow free.
To advance this vision, peaq is unveiling multi-chain Self-Sovereign Machine Identities leveraging autonomous agents by Fetch.ai, an innovative platform that powers peer-to-peer applications with automation and AI capabilities. These decentralized IDs enable machines, devices, and robots on different chains to exchange data between one another through a decentralized address book. Through these IDs, peaq brings a chain designed to power decentralized physical infrastructure networks (DePINs), a major trend in the Web3 space, into the Cosmos ecosystem.
Here's a demo video in case you're a 'see it to believe it' kinda person.
Multi-chain IDs for a multi-chain Economy of Things
The multi-chain Machine IDs leverage the previous integration between peaq and Fetch.ai, leveraging the latter’s autonomous agents to facilitate data exchanges between blockchains. This communication is enabled by an address book running as part of peaq’s storage pallet, which maps the addresses of the same entities across different chains. At the current stage, the feature supports SS58 and Bech32 address formats, used respectively on Substrate-based chains (aka the Polkadot ecosystem) and in the Cosmos ecosystem. Thus, these IDs bring these two ecosystems together, enabling machines within them to interact with one another.
So how exactly does all of this work? When creating a Machine ID on peaq, a user will have the option to add its address on the network to the aforementioned address book on the storage pallet. Should the user opt to do so, an autonomous agent will be created on Fetch.ai’s Agentverse, and its address and wallet on the Cosmos ecosystem will be added to the address map on peaq together with the machine’s peaq ID.
The agent then repeatedly pings the peaq blockchain to collect any data associated with the address on peaq that’s associated with its Cosmos address on the address book. This process enables multi-chain data exchanges between vehicles, robots, and devices on the Polkadot and Cosmos ecosystems.
The innovation advances peaq’s vision of a multi-chain Economy of Things spanning multiple blockchain ecosystems. It will enable wider Economy of Things interoperability through multi-chain machine communication and interactions: As an example, an electric vehicle on a Cosmos blockchain could discover an available charging station on peaq. Other use cases it can enable include:
- Decentralized Energy Grids: Multi-chain Machine IDs enable cross-network energy sales in a smart city where the public grid and private units such as solar panels run on different blockchains. This optimizes energy management across the network and makes it more sustainable.
- Shared Autonomous Vehicles: Fleets of autonomous vehicles on different blockchains can use multi-chain Machine IDs to communicate with each other, optimizing the traffic flow and streamlining ride-sharing.
- Supply Chain Management: Multi-chain Machine IDs enable end-to-end tracking and coordination of goods and services in a global supply chain leveraging different machines on different blockchains at different stages.
- Healthcare Systems: Multi-chain Machine IDs enable data-sharing among medical devices running on different blockchains, resulting in more comprehensive and efficient healthcare.
Multi-chain Machine IDs may also pave the way for multi-chain crowdfunding of fleets of connected vehicles, robots, and devices via peaq’s Machine DeFi suite, as well as multi-chain identity management, and transactions involving multiple identities on multiple blockchains. They position peaq as the multi-chain hub for DePIN projects across the Polkadot and Cosmos ecosystems and will soon be accessible via peaq’s SDK, which greatly simplifies their deployment for builders.
"Collaboration is key in the Web3 space. To maximize the potential of our AI Agents, we believe in utilizing multichain communication across devices. By bringing together the Polkadot and Cosmos ecosystems, we create value for everyone involved."
- Maria Minaricova, Director of Business Development at Fetch.ai
“The future of the Economy of Things is on Web3, and the future of Web3 is multi-chain. The multi-chain Machine IDs are the first step toward this, and as such, they open limitless opportunities before developers in both ecosystems. We are excited to see peaq IDs and Fetch.ai’s Autonomous Agents make the Economy of Things immune to fragmentation.”
- Till Wendler, co-founder of peaq
Fetch.ai provides the infrastructure for smart, autonomous services. With Fetch.ai, you can build, deploy and connect smart agents to automate web3 systems and reinvent business models. Agents can learn, predict and act to undertake meaningful tasks in the real world. Play with agent technology today and discover how to reinvent the way we live and work.
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