peaq, the L1 blockchain for DePIN and real-world assets, announces the massive expansion of its ecosystem as DeNet joins to deploy its DePIN-powered storage layer. Besides migration from Polygon (POL), DeNet shares the plans of upcoming token mints.
Innovative DePIN project DeNet comes to peaq: Details
Decentralized storage protocol DeNet, a trailblazer in the segment of data for DePIN, has begun the migration from Polygon (POL) to peaq, a DePIN-centric layer-1 blockchain. As part of this massive move for the global DePIN segment, DeNet is expected to launch two utility tokens.
DeNet is Coming Home: the Home of #DePIN 🏡
We are thrilled to announce our big partnership with @peaqnetwork!
As part of this collab, we’ll transition our data storage layer DePIN to peaq blockchain. Why peaq? It boils down to:
🔸Shared Vision & Expertise: We found kindred… pic.twitter.com/oIACoUW7nC
— DeNet (@DeNetPro) September 12, 2024
DeNet is building an eco-friendly data storage DePIN that taps existing capacities to empower people and businesses to regain ownership of their data.
With 100,000 DeNet Storage users worldwide and more than 13 million uploaded files, DeNet has a proven track record of delivering value to the Web3 community. It currently has a tokenized storage capacity of nine petabytes — enough to host more than 16,000 years of HD video across its community of datakeepers from more than 25 countries.
Originally developed in the Polygon (POL) ecosystem, it will now move to peaq on the eve of a hotly anticipated mainnet launch. This strategic migration is expected to bolster the DePIN sector as its appetite for privacy-first and decentralized data storage grows with more use cases and adoption.
TBY, DENET tokens to go live after transition
As part of the integration, DeNet will mint its storage token, TBY, and deploy its key smart contracts on peaq. Additionally, DeNet is to transition its main applications, nodes and highly successful Store&Earn program, poised to reach a wider audience through its launch on peaq.
Following this, DeNet will integrate its SDK with the peaq SDK and launch its DENET multi-purpuse token on the peaq network. Developers looking to build on peaq, along with projects already integrated into the peaq ecosystem, will be able to natively utilize DeNet’s DePIN Storage Layer, meeting the significant market demand for 100% decentralized services.
Rafik Singatullin, cofounder at DeNet, is sure that the new integration paves the way for game-changing upgrades in the DePIN sphere:
DeNet empowers individuals to contribute their unused storage capacity to establish a fully secure network, reaping exceptional rewards for all participants. With the DeNet Storage Protocol, anyone can develop innovative and secure services. This inherent flexibility is strategically designed to position us as pioneers in the rapidly evolving multipolar landscape.
Leonard Dorlöchter, cofounder of peaq, foresees entirely new data storage designs to be unveiled as part of its new collaboration:
The DePIN model has an immense potential to revolutionize data storage. It can make everyone a stakeholder in the fast-growing data economy while making it fairer and more sustainable. DeNet is spearheading this push, and we are thrilled to see it join the peaq ecosystem.
With DeNet’s DePIN, anyone can earmark the unused hard drive space on their PC or other devices and earn rewards for providing decentralized data storage services. The DePIN offers developers potentially unlimited scalability while giving the community a chance to store data in a decentralized and private manner and earn rewards from contributing their storage capacities.
As covered by U.Today previously, earlier this year, peaq ecosystem was joined by Kaisar Network and Ec³.