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. In addition to the migration from Polygon (POL), DeNet shares the plans for upcoming token coins.
Innovative DePIN project DeNet comes to a climax: Details
Decentralized storage protocol DeNeta pioneer in the data segment for DePIN, has begun its migration from Polygon (POL) to peaka DePIN-centric layer 1 blockchain. As part of this huge step for the global DePIN segment, DeNet is expected to launch two utility tokens.
DeNet is coming home: the home base of #DePIN
We’re happy to announce our big partnership with @peaqnetwork!
As part of this collaboration, we will port our data storage layer DePIN to peaq blockchain. Why peak? It comes down to:
Shared vision and expertise: we have found relatives… pic.twitter.com/oIACoUW7nC
— DeNet (@DeNetPro) September 12, 2024
DeNet is building an environmentally friendly data storage DePIN that leverages existing capabilities to enable people and businesses to reclaim ownership of their data.
With 100,000 DeNet Storage users worldwide and more than 13 million files uploaded, 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 over 16,000 years of HD video within its community of datakeepers from over 25 countries.
Originally developed in the Polygon (POL) ecosystem, it will now head to peak on the eve of a highly anticipated mainnet launch. This strategic migration is expected to strengthen the DePIN sector as demand for privacy-first and decentralized data storage grows with more use cases and adoption.
TBY and DENET tokens will go live after the transition
As part of the integration, DeNet will mint its storage token, TBY, and deploy its core smart contracts on peaq. In addition, DeNet will be transitioning its key applications, nodes and the highly successful Store&Earn program, ready to reach a wider audience through the launch on peaq.
After 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 leverage DeNet’s DePIN Storage Layer, meeting significant market demand for 100% decentralized services.
Rafik Singatullin, co-founder of DeNet, is confident that the new integration will pave the way for groundbreaking upgrades in the DePIN field:
DeNet allows individuals to contribute their unused storage capacity to build a fully secure network, delivering 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, co-founder of peaq, anticipates that all-new data storage designs will be unveiled as part of the new partnership:
The DePIN model has enormous 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 at the forefront of this development and we are excited to see it join the Peaq ecosystem.
DeNet’s DePIN allows anyone to reserve 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 the opportunity to store data in a decentralized and private manner and earn rewards by contributing their storage capabilities.
As previously reported by U.Today, the peaq ecosystem was joined by Kaisar Network and Ec³ earlier this year.
