The ecosystem of Peaq, a Layer 1 blockchain that focuses on real-world assets and decentralized physical infrastructure networks (DePIN), is expanding rapidly. DeNet is partnering with Peaq to introduce its DePIN-powered storage layer. DeNet has also disclosed plans for future token mints and revealed that it will be departing from Polygon.

DePIN Expansion

Protocol for decentralized storage DeNet intends to introduce two new utility tokens as part of its migration from Polygon (POL) to Peaq, a Layer-1 blockchain that focuses on DePIN. DeNet gives people and companies back control over their data by offering an environmentally friendly data storage option. DeNet has a track record that includes 100,000 users, over 13 million files submitted, and a tokenized storage capacity of nine petabytes, which is sufficient for 16,000 years of HD video. It is anticipated that this move to Peaq, which comes before a significant mainnet rollout, would boost the DePIN industry and satisfy the rising demand for decentralized data storage that prioritizes privacy.

A New Era for Decentralized Storage

In order to move its primary applications, nodes, and the Store&Earn program to the peaq network, DeNet will coin its storage token, TBY, and implement its essential smart contracts on the platform. DeNet's SDK and multipurpose token have been launched as part of this integration, allowing projects and developers using peaq to make use of DeNet's DePIN Storage Layer for decentralized services. Leonard Dorlöchter of peaq and Rafik Singatullin of DeNet believe this will lead to creative data storage options. DecNet's DePIN, which follows peaq's previous integrations of Kaisar Network and Ec³, enables users to profit from unused hard drive space through decentralized storage.