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MapMetrics, an app that uses DePIN technology for navigation in the Web3 era, has announced a significant migration of its technical components.
MapMetrics, a project focused on decentralized physical infrastructure (DePIN), has announced that it will leave the Solana ecosystem and move to peaq, a layer-1 solution designed for DePIN and real-world machine assets.
What Did MapMetrics Switch to peaq
peaq is a multi-chain layer one blockchain specifically optimized for DePIN and real-world machine assets. The minimum transaction cost remains approximately $0.00025, even with the network’s ability to scale beyond 100,000 transactions per second (TPS). However, this scaling capability is still pending an upgrade.
peaq is built on the most environmentally friendly blockchain architecture and boasts the second-largest developer ecosystem in Web3.
Flexibility and convenience
peaq supports ink! (Rust) and EVM Smart Contracts and pallets, providing developers with flexibility and convenience. The Modular DePIN Functions provided by the network are readily available, allowing DePINs and dApps to have essential functionalities.
These include Self-Sovereign Machine IDs, role-based access control, data verification, seamless machine payment processing, data storage, data indexing, autonomous AI agents, and more. These functions are available via the peaq SDK in JavaScript, allowing developers to deploy them with just 15 lines of code.
Interacting with Polkadot, establishing cross-chain machine IDs with Cosmos, Solana, and Binance, and bridges to Ethereum are made simple by peaq. peaq is EVM-compatible and linked to over 30 blockchains via Wormhole.
By rewarding machines and DePIN builders that connect, contribute, and generate transactions on the network, peaq fosters a decentralized positive-sum economy that works for everyone.
What Influenced the Decision
According to Brent van der Heiden, co-founder of MapMetrics, the decision to transition to peaq was influenced by the network’s diverse modular DePin functionalities. He highlighted peaq ID, a decentralized multi-chain machine identity, as a critical feature that will facilitate the prioritization of real machines during periods of high load. Furthermore, incorporating Modular Functions, like the DePIN data validation framework, is expected to improve MapMetrics’ functionalities.
Heiden stressed the possible cooperation opportunities with other DePINs and business partners in the broader peaq ecosystem, which may result in new partnerships and increased project demand.
How Will the Migration process Occur
The migration process will occur in multiple phases, starting with deploying smart contracts on peaq, followed by transferring core business logic to the layer-1 platform.
Afterward, the creation of new tokens will be possible on peaq, along with an alternative for current token holders to transfer their tokens. Although MapMetrics is leaving the Solana ecosystem, Solana remains a preferred blockchain platform for various DePIN projects.
In a related development, Natix, another DePIN mapping project, announced that it plans to launch its native token on the Solana blockchain while continuing to collaborate with the peaq network.
Summary
MapMetrics has announced its move from Solana to peaq, a layer-1 solution for decentralized physical infrastructure (DePIN) and real-world assets. The decision was influenced by peaq’s modular DePIN functionalities and support for ink! and EVM Smart Contracts. The transition will allow the creation of new tokens and provide an alternative for current token holders to transfer their tokens.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading in stocks, cryptos, or other related indexes comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
