News
In a nutshell: After months of intense work with guidance from some of the top tech experts in the Web3 industry, peaq has hit the third and final milestone of the Substrate Builders Program. We at EoT Labs are honored to have the seal of approval from this prestigious grant program run by Parity Technologies, the company developing the Polkadot and Kusama networks.
Time to toss that cap in the air and pop the champagne open — we’re graduating again! This time, it’s from the Substrate Builders Program, which we’ve been involved with for months. We’re proud to announce that in December 2022, after a ton of intense work with guidance and supervision from some of the leading Web3 experts from Parity Technologies, we’ve reached the final third milestone of the program.
In the last three-month leg of this journey, we worked on several exciting developments that we have either already introduced to the community, or will roll out in the near future. As a key prerequisite for graduating, we were to foster and grow the data component of the Economy of Things on peaq, enabling users to monetize the data their machines accumulate throughout their routine operations. We worked on that through our ongoing collaboration with Ocean Protocol, the Web3 platform to unlock data services for AI and business innovation. Ocean’s technology powers our Gaia-X data monetization platform, now up and running thanks to our good frens at DeltaDAO AG.
There were two other exciting tasks that got us where we are today, but we haven’t revealed them to the public yet. Here’s a few teasers, though, keep it between us! Firstly, we have polished off some of the moving parts around the rewards and incentives on our network, and we’ll be excited to tell the community more about it in the coming months.
As another teaser for the third piece of the puzzle, we will also be rolling out something very cool in early 2023. It will be a very helpful and user-friendly utility tool that will enable the wider peaq community to start adding and testing machines into the Economy of Things.
We are grateful to the Parity team for their support throughout these nine months of hard work and are proud of the progress we’ve made on this journey. The first milestone, which we reached this summer, saw us figure out how to make peaq compatible with both smart contracts in both ink! and Solidity, Substrate’s and Ethereum Virtual Machine’s (EVM) respective smart contract languages. We also rolled out peaq access (a decentralized role-based access management tool) and peaq Scan, our open-source blockchain explorer for the Polkadot and Kusama ecosystem.
For our second milestone, completed in November, we released the peaq app, the community’s one-stop-hub for all things peaq tokens. The initial release enables users to move their $AGUNG tokens between Substrate and EVM components of our Agung testnet. The future updates will bring more functions, including rewards for specific activities on the network as well as governance functionality. We also brought peaq ID, our Self-Sovereign Machine Identities function, in compliance with the Vehicle Identity standard by the Mobility Open Blockchain Initiative, and released the first version of peaq pay, our peer-to-peer machine payments function.
While the program is over, we are looking forward to our future collaborations with the excellent minds at Parity. Furthermore, at EoT Labs, we never really stop building. We will continue to push forth with developing peaq, as well as krest, our newly-announced canary network, and fine-tuning them to the needs of the Economy of Things. There’s a ton of work to do, and speaking of which…
- We’re hiring across the board, from engineering to communications. Join us in building the Economy of Things.
- 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? Visit our website and join the conversation on our channels.
