The peaqDID standard enables machines to discover each other, carry out transactions, verify claims, protect privacy, and maintain sovereignty. A key benefit of peaqDID is the standardization of machine interaction through a consortium of diverse industry leaders in a self-sovereign world, achieved by providing standard interfaces for discovery. These interfaces allow two participants to engage in a transaction securely and seamlessly, enabling increased trust and interoperability across different systems and networks. The standardization of machine interaction provides a solid foundation for a decentralized and secure digital identity system, offering improved privacy, security, and user control.
The peaq network is a smart contract platform built with Substrate supporting ink and Ethereum Virtual Machine (EVM) smart contracts. The peaq network enables machines to provide and render services and become fully self-sufficient by leveraging peer-to-peer (p2p) technologies such as Machine NFTs (Non-Fungible Tokens), Decentralized Finance (DeFi), Self-Sovereign Machine Identity (SSMI) and novel economic mechanisms to align the incentives of all Economy of Things stakeholders, namely; machines, machine owners, manufacturers, individuals/users, organizations and investors, while incentivising the deployment of more machines to the network.
You can always rely on getting answers to your questions in our Discord channel.
