What is peaqFundamentals
Grants & FundingGlossary
OverviewCollator & Delegator Rewards
- Agung- peaq's testnet, which features a parachain/relay chain architecture. The native token of Agung is $AGUNG (please note that $AGUNG is a testnet token and will never have any actual value).
- Block Explorer- the online tool that enables you to search for real-time and historical information about a blockchain.
- Collator - one of the core members of peaq/krest networks, collators run a full node maintaining the state of the blockchain and propose new block candidates, which are later verified and approved by the relay chain validators.
- dApp - A decentralized application (dApp) is an application built on a blockchain that combines a smart contract and often a frontend user interface. On peaq dApps handle the business logic of a specific use case in the Economy of Things.
- DePIN is short for a Decentralized Physical Infrastructure Network. This is a new concept for blockchain networks that use tokens to incentivize communities to build physical infrastructure networks/dApps (think charging, telecoms, etc.).
- EoT (Economy of Things) - it is a system of peer-to-peer economic relationships between machines and humans exercising their respective agency through a permissionless, decentralized, and borderless digital infrastructure.
- EoT NFT - A Non-Fungible Token that represents a stake in the Economy of Things. On peaq EoT NFT represents liquidity provided to peaq DEX and gives the holder rights to receive fees from DEX exchanges and peaq rewards (block rewards + transaction fees).
- EVM (Ethereum virtual machine) - is the computation engine for Ethereum that manages the state of the blockchain and enables smart contract functionality. peaq supports EVM by design.
- Faucet - a program that provides a small number of tokens to users so they can learn about the blockchain, start using it, and build on it.
- Frontier is the suite that provides an Ethereum compatibility layer for Substrate. peaq is built on Substrate, thanks to the Frontier compatibility layer peaq supports EVM.
- Gaia-X is an initiative that develops, based on European values, digital governance that can be applied to any existing cloud/edge technology stack to obtain transparency, controllability, portability, and interoperability across data and services. peaq is part of the GAIA-X consortium.
- ink! - is a programming language for smart contracts. peaq is built with the Substrate framework, so its users can build with ink! by default.
- Indexer - protocol for organizing blockchain data.
- IoT (Internet of Things) - the network of physical objects that are embedded with sensors, software, and other technologies for the purpose of connecting and exchanging data with other devices and systems over the Internet.
- Krest - is peaq’s canary network and a parachain in the Kusama ecosystem. The native token of krest is $KREST.
- Kusama - is a scalable network of specialized blockchains built using Substrate and nearly the same codebase as Polkadot. The network is an experimental development environment for teams who want to move fast and innovate on Kusama or prepare for deployment on Polkadot. krest network is a parachain on Kusama.
- Layer-0 protocols take care of security, decentralization, and interoperability upon which Layer-1 blockchains can be built. As a foundational layer to blockchain networks and applications, Layer 0 protocols are among many solutions aiming to fix the challenges the industry faces, such as scalability and interoperability. Polkadot is an example of a layer-0 blockchain.
- Layer-1 refers to a base network, such as Bitcoin or Ethereum, and its underlying infrastructure. peaq is a layer-1 blockchain.
- Layer-2 is a scaling solution that sits on top of a layer 1 blockchain like Bitcoin or Ethereum.
- Machine NFT - NFT, which represents ownership (possibly fractional) over a machine or pool of machines and their earnings. Machine NFTs also contain a set of machine attributes, like machine name, machine model, and other metadata.
- Node stores the complete blockchain data. That means they contain information about all blocks and the complete record of transactions carried out within these blocks.
- Oracle - a program, which connects the information in the real world to contracts and other agreements on a blockchain.
- Pallet is the building block of Substrate's next-generation blockchains, powerful modules, and support libraries that you can use, modify, and extend to build the runtime logic to suit the needs of your blockchain.
- peaq control - machine management platform. It helps machine owners keep track of the status of their machine, and the dApp it's connected to, along with earnings and utilization metrics.
- peaq portal - one-stop-shop for everything related to $PEAQ token, already including EVM-Substrate bridge, with a plan to include DEX, NFT minting, and dApp/machines voting mechanism.
- peaqID (MachineID) - is a new type of identifier that enables verifiable, decentralized digital identity and is used for any machine/device on peaq network. peaqID enables machine2machine and machine2human interactions.
- Polkadot - is a Layer-0 blockchain, which provides a core network, the relay chain, and parallel blockchains called parachains.
- RBAC (Role-Based Access Control) - restricts access based on a person's/entity's role within an organization and has become one of the main methods for advanced access control. On peaq, RBAC functionality is provided by the RBAC pallet.
- Smart Contract is simply a program stored on a blockchain that runs when predetermined conditions are met.
- Substrate - a modular framework for building blockchains. peaq is built using Substrate.
- Validators are a part of the Relay chain. They finalize blocks proposed by parachain collators (only if blocks represent a valid state transition) and ensure the security of the Relay chain and parachains.
- Wallet - a device, physical medium, program, or service that stores the public and/or private keys for cryptocurrency transactions.
- Web2 - the version of the internet most of us know today. An internet dominated by companies that provide services in exchange for your personal data.
- Web3 refers to decentralized apps that run on the blockchain and are not hosted or controlled by a trusted third party.