Fintech
MapMetrics expands to peaq from Solana following addition of Solana compatibility to peaq’s Multi-Chain Machine IDs
peaq, the blockchain for real-world applications, announces the expansion of its ecosystem and product offering. MapMetrics, a Web3 drive-to-earn navigation app, will leverage peaq as part of its decentralized physical infrastructure network (DePIN) powering a Google Maps-style service. The development comes as peaq adds Solana compatibility to its Multi-Chain Machine IDs.
A Solana-originating project, MapMetrics will leverage the now Solana-compatible peaq IDs to build functions of the MapMetrics DePIN on peaq. These will include assigning peaq IDs to the navigator devices on its DePIN, using these IDs to authenticate the data collected by these devices, and a community voting mechanism.
Free navigation apps have become trusty companions for countless people around the world, with Google Maps alone boasting over a billion users. But despite a lack of an upfront cost, they come with a price of their own. When something is free, you are the product; when navigation is free, your personal data is being monetized. From leveraging the user’s position data for valuable insights on specific locations to serving them targeted location-based ads, the companies behind such apps profit from our sensitive data, sometimes without giving much thought to its privacy and protection. And in the case of massive companies like Google, they combine this data with the data sourced from all other Google-related data points to create digital models of ourselves, able to predict our behavior than ourselves.
MapMetrics is changing the equation by putting navigation on Web3 rails. It uses location trackers that enable users to share their anonymized data with the network, earning cryptocurrency and NFTs as rewards. While featuring its own ad engine, it makes sure that no private user data is exposed to the advertisers and shares the ad revenue with the community. It boasts 3,500 devices in the network and 5,000 users across 73 countries.
As part of its integration with peaq, MapMetrics will use peaq’s Multi-Chain IDs to enable devices to connect with the peaq network. It will build and deploy some of the core functions powering its navigation DePIN on peaq, using peaq IDs to authenticate and sign the anonymized data that the devices collect. It will also tap peaq to build a community voting pallet — a building block that other projects will be able to use as well — which will enable the community to contribute to its Google Maps-style navigation service by adding the locations of speed cameras and other objects and validating it with votes.
This comes as peaq expands the compatibility of its peaq IDs to include Solana. Enabling this is an address map running as part of the peaq storage pallet, pallets being modules for building blockchains in the framework that peaq runs on. This map works like an address book, linking addresses of different standards used on various networks and thus enabling cross-chain communication and information exchanges.
For example, with this integration, a solar panel with an ID on Solana will be able to connect to an energy marketplace on peaq. The previous updates made peaq IDs compatible with Binance’s BNB Chain, Ethereum Virtual Machine, and Cosmos. peaq’s steps toward its Multi-Chain vision have already eased the transition for projects coming from Algorand and Polygon, and will now unlock new opportunities for MapMetrics and other projects in the Solana ecosystem.
The peaq ID compatibility expansion enables teams originating on Solana to expand and leverage peaq’s DePIN functions without friction or fragmentation. With peaq Multi-Chain IDs, Solana-originated projects can easily tap peaq for some of their crucial functions.
“With its DePIN-focused functions and economics, peaq is the perfect home for DePINs,” says Brent van der Heiden, CEO of MapMetrics. “We are excited to be joining this bustling ecosystem, and the newfound compatibility between peaq IDs and Solana addresses is making this process significantly more convenient.”
“We believe in an open, Multi-Chain Web3 with seamless communication and value exchange between a plethora of protocols,” says Till Wendler, co-founder of peaq. “By making peaq IDs compatible with Solana, we take another step toward bringing this vision to life — and it’s invigorating to see excellent projects such as MapMetrics use this technology to solve real business problems with the DePIN model.”