peaq's fundamental KPIs are designed to scale with its increasing usage and adoption. At the core of its design is an agile and adaptive architecture, capable of expanding to meet the growing demands of its builders and users. This scalability ensures that peaq not only serves current needs efficiently but is also primed to handle future advancements and increased workloads with ease, making it a strong solution for today and tomorrow's DePINs and dApps.
Transaction Throughput (TPS)
Today: 10,000 TPS; can theoretically scale up to 500,000 TPS
- peaq's network initially supports around 10,000 transactions per second (TPS), offering robust performance from the outset. Looking ahead, peaq is poised to achieve theoretical scalability beyond 500,000+ TPS, courtesy of cutting-edge enhancements like asynchronous backing, elastic scaling, and agile core time (elements of Polkadot 2.0).
Decentralization by Nakamoto Coefficient
- peaq comes with a Nakamoto Coefficient of 93, which it inherits from Polkadot's score by leveraging its security and decentralization. This is the highest score among major Web3 ecosystems. The higher the Nakamoto Coefficient on a network, the more resilient the network is to all kinds of attacks. And the more resilient the network is to these kinds of attacks, the more decentralized and censorship-resistant it is.
Decentralization by Node Requirements
Today: ~3000$/Year (in hardware costs if renting)
- Setting up a node on peaq is straightforward and accessible to all. Unlike other Layer-1 blockchains, peaq's node configuration is tailored for standard home PCs, requiring minimal technical expertise and investment. This approach ensures a more decentralized block production process, opening opportunities beyond institutional investors.
Block Time (Speed)
Today: 6 seconds; can theoretically scale down to 0.25 seconds
- peaq starts with a block time of 6 seconds. Theoretically, by harnessing the power of up to 24 Polkadot cores, peaq has the potential to significantly reduce this block time to approximately 0.25 seconds. This capability for dynamic scaling positions peaq to continuously enhance its speed and efficiency, aligning with the increasing demands and real-time requirements of its growing ecosystem.
Today: ∼ $0.00025
- peaq provides low-cost transactions to its users, enabling transaction fees as low as $0.00025. This is made possible through peaq's unique architecture and economics, leveraging the high-quality, inexpensive blockspace provided by the Polkadot Layer 0. More detail on how the transaction fees are structured in the Economics section.
Smart Contracts and Pallets
Leveraging the capabilities of Substrate, peaq natively supports Substrate pallets and ink! smart contracts. With the inclusion of Frontier, Substrate's Ethereum compatibility layer, peaq also supports EVM smart contracts.
There are several ways to define and deploy business logic on the peaq network:
EVM Smart Contracts
- Users can write Solidity smart contracts or port their existing contracts from Ethereum or any other EVM-compatible blockchain. These can be deployed on the peaq network without any modifications. Additionally, developers can use the same set of familiar tools for building, testing, and deploying contracts on peaq.
ink! Smart Contracts
- Beyond Solidity smart contracts, developers can also use Rust to write ink! smart contracts or port their existing ink! contracts from other Substrate-based chains.
- Substrate offers the ability to extend blockchain functionalities with its modular components, akin to Lego blocks. This enables the seamless addition of new features to live blockchains for expanded functionality. Visit the Substrate marketplace to find applicable pallets developed by the community.
- peaq utilizes the greenest blockchain architecture available on the market. The Polkadot Layer 0 does not rely on miners for block production and consensus. Instead, it uses a set of nominators and validators to produce blocks and secure the network. Due to this, peaq's security doesn't depend on computation (and electricity!). Thus, it doesn't require vast amounts of energy and has a very small carbon footprint.
- peaq leverages the largest and second-largest developer ecosystems in Web3 (source). Thanks to EVM support and being built using Substrate, Ethereum, and Substrate (Polkadot) developers experienced developers can seamlessly build on peaq. Developers intending to build on peaq have the option to select pre-built pallets and use a large number of high-quality business logic ready-to-use on the Substrate Marketplace. Additionally, developers can copy Solidity contracts from EVM-based chains and deploy them on peaq without any extra work.