Blockchain
peaq, the Web3 network specializing in the Economy of Things, has teamed up with Fetch.ai, an innovative platform that combines automation and AI capabilities, to introduce multi-chain Self-Sovereign Machine Identities. These identities will facilitate data exchange and identification between vehicles, robots and devices on the Polkadot and Cosmos ecosystems. Leveraging Fetch.ai’s autonomous AI agents, peaq enables decentralized data exchange through its layer-1 blockchain within the Polkadot ecosystem and Fetch.ai’s blockchain within the Cosmos IBC ecosystem.
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The collaboration addresses the challenge of limited interoperability within the Web3 space, where standalone blockchains often hinder seamless connectivity. However, projects like Polkadot and Cosmos have emerged as pioneers of native interoperability, striving for a more connected and open Web3 environment.
The introduction of multi-chain machine IDs on peaq takes this interoperability effort further by enabling decentralized data exchange between the two multi-chain ecosystems.
This functionality is enabled by a decentralized address book integrated into the peaq storage pallet. When creating a machine ID on peaq, users can choose to add their address to this address book.
By doing so, an autonomous agent is generated on Fetch.ai’s Agentverse, and its address and wallet in the Cosmos IBC ecosystem are added to the address map on peaq along with the machine’s peaq ID. The agent continuously searches the peaq blockchain to collect all associated data from the address on peaq that matches the Cosmos address in the address book.
This process enables cross-chain data exchange between vehicles, robots and devices on the Polkadot and Cosmos ecosystems.
This innovation aligns with peaq’s vision of a multi-chain Economy of Things that spans different blockchain ecosystems. It enables broader Economy of Things interoperability through multi-chain machine communication and interactions. For example, an electric vehicle on a Cosmos blockchain can discover available charging stations on peaq.
Other possible use cases include decentralized energy networks, shared autonomous vehicles, supply chain management and healthcare systems.
Multi-chain Machine IDs can also enable multi-chain crowdfunding of fleets of connected vehicles, robots and devices through peaq’s Machine DeFi suite.
In addition, they open doors for multi-chain identity management and multi-identity transactions across multiple blockchains.
These advances position peaq as the multi-chain hub for decentralized physical infrastructure networks (DePINs) in the Polkadot and Cosmos ecosystems. Access to the multi-chain machine IDs will soon be available through peaq’s SDK, simplifying their implementation for developers.
Collaboration is considered essential in the Web3 space, as highlighted by Maria Minaricova, Director of Business Development at Fetch.ai. By bridging the Polkadot and Cosmos ecosystems, multichain communication between devices can unlock significant value for all stakeholders involved.
Till Wendler, co-founder of peaq, emphasizes the importance of a multi-chain future for the Economy of Things and Web3 as a whole. The introduction of multi-chain machine IDs represents the first step toward this vision and opens up limitless possibilities for developers in both ecosystems.
The integration of peaq IDs and Fetch.ai’s Autonomous Agents aims to create a fragmented, immune Economy of Things.
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About Fetch.ai
Fetch.ai provides the infrastructure for smart, autonomous services, enabling the building, deployment, and connection of smart agents that automate web3 systems and revolutionize business models. These agents have the ability to learn, predict and perform meaningful real-world tasks. Fetch.ai empowers users to explore agent technology and redefine how we live and work.
About peak
peaq is a Web3 network focused on powering the Economy of Things (EoT). As a layer-1 blockchain, peaq enables entrepreneurs and developers to build decentralized applications and DePINs for vehicles, robots and devices, while allowing users to manage and earn as connected machines deliver goods and services.
By partnering with prominent consortia such as Gaia-X, peaq actively contributes to the development of standards that will drive the future of mobility and other interconnected industries. The ultimate goal is to democratize abundance in the age of automation.
To learn more about peaq, visit their official website or join their Discord community. Stay up to date with the latest news and developments by following peaq on Twitter.
