March 19, 2024

peaq expands Multi-Chain Machine IDs to Binance BNB Chain

What’s happening?

peaq is expanding the reach of its multi-chain Machine IDs to add compatibility with Binance’s BNB Beacon Chain. 

Why is it important?

The integration unlocks peaq’s stack for more projects leveraging other networks and further supports peaq’s vision of a multi-chain future by allowing devices with on-chain IDs on other blockchains to seamlessly connect with peaq. 

What does this mean for the community?

The integration will allow projects building on peaq to interact with services running on BNB Beacon Chain, which will unlock more value for DePIN builders across multiple ecosystems with thousands of devices, sensors, and machines.

peaq is the go-to layer-1 blockchain for Decentralized Physical Infrastructure Networks (DePINs), with more than 60,000 devices, including Tesla vehicles, noise pollution sensors, and smart cameras, across the peaqosystem.

peaq is now bringing its machine-focused functionalities to dApps and DePINs on other networks by expanding the compatibility of peaq multi-chain Machine IDs. With this update, peaq’s multi-chain Machine IDs are now compatible with Binance’s BNB Beacon Chain address standards. 

We see Web3 as a return to the open, decentralized internet. We intend to stay true to that ethos by acting on our multi-chain vision focused on interoperability between networks, rather than the ‘one chain to rule them all’ approach, where each chain and ecosystem is walled-off and isolated, reminiscent of Web2.  

peaq's multi-chain Machine IDs are self-sovereign identities for a broad array of connected devices—ranging from electric vehicles to smartphones. This innovation breaks down communication barriers across blockchain networks, allowing for seamless interaction with peaq's ecosystem. For instance, an electric vehicle using a Cosmos ID can easily connect to a charging station equipped with a peaq ID.

We've expanded this interoperability to include Binance's BNB Beacon Chain. This enhances the versatility of peaq IDs, enabling them to mediate cross-chain communication and data exchanges more effectively. Already live on our Github, this development empowers projects on peaq to seamlessly interact with services running on the BNB Beacon Chain.

"Web3 shouldn't devolve into just another assembly of isolated ecosystems. peaq champions a multi-chain future, advocating for a more sustainable approach where collaboration and fluid liquidity amplify value for all. By integrating peaq IDs with platforms like BNB Beacon Chain, we're not only advancing our vision but also unlocking unprecedented value for DePIN architects across multiple ecosystems."

— Till Wendler, Co-Founder of peaq

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