MapMetrics moves from Solana to peaq

MapMetrics, a Microsoft mapping data partner and drive-to-earn DePIN provider, has declared its transition from Solana to the peaq layer-1 backbone.  

MapMetrics is a top-flight market leader in mobility based on a decentralized physical infrastructure network. They will bring around 55,000 devices to peaq, coupled with the luxuriance of on-chain activity. 

MapMetrics, built on the strong pillars of Solana, is another fabulous DePIN migration to peaq from another system. It is an undisputable fact that the new migration will lead to more transitions in the near future, and the peaq community can join its imaginative journey of mapping the universe with the power of Web3 technology. MapMetrics is a web3 navigation application with an illustrious reputation, and it equips anybody to get crypto rewards by mapping the universe.

Since its Android release, MapMetrics has amassed an impressive 55,000 installations and consumers in 177 countries. An agreement has been reached between them and Microsoft to enhance Bing Maps using information gathered by MapMetrics users. MapMetrics previously disclosed its strategy for migrating to peaq, and this strategy continues to expand at present. Attractive characteristics of MapMetrics include decentralized physical infrastructure network integration, machine composability, dePIN functions, and dePIN-based economics. 

MapMetrics has a similar synergy with other peaq-based DePINs, which is known as syntactic composability. Peaq has over 25 DePINs built into its system well ahead of the renowned launching ceremony. MapMetrics is a key beneficiary of machine composability and the capability of machines to interact with other machines in the peaq subsystem efficiently. 

The machine composability feature of MapMetrics equips DePIN to get immediate access to device fleets connected to peaq. MapMetrics is given access to peaq’s evolving network of DePIN-relevant businesses, and an enterprise ecosystem is highly relevant since creating a solid user base and interactive community around a DePIN is essential to  building the network supply side.

The enterprise system of peaq is made of companies that depict the demand side for DePIN, including Airbus, Continental, and Bosch. MapMetrics will take advantage of DePIN functionalities, including peaq verification and peaq ID. Builders can create DePINs with the aforementioned functionalities, like peaq verify and peaq ID. More and more DePIN functions are in the development stage, and there will be an upgrade of DePIN functions soon. DePIN-based economics equips DePINs to design workable business models on peaq, and MapMetrics will be incorporating smart contracts behind its decentralized applications on peaq. They will mint their token on peaq, apart from offering a bridging option for existing holders.

DePIN-based economics enabled transporters and new members to undergo a seamless onboarding process. The news regarding MapMetrics’ migration from Solana to Peaq emphasizes the need for a network with dependable transactions, machine data verification, a DePIN-centric system, and an economic model compatible with DePINS. By 2024 and beyond, MapMetrics will be immersed in a realm of innovation, creativity, and technological revolution as a result of the forthcoming transition.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button