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Ec³ DePIN Innovators Join peaq Layer-1 Ecosystem: Details

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Fri, 5/04/2024 - 14:53
Ec³ DePIN Innovators Join peaq Layer-1 Ecosystem: Details
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A new partnership is set to be multidirectional: Ec³ connects devices on its DePIN with peaq, moves its core business logic to peaq blockchain and eventually launches its token natively on top of this L-1 network.

Ec³ teams up with peaq to supercharge decentralized energy networks

According to a joint official statement by Ec³ and peaq, the former is leveraging the latter as its strategic layer-1 backbone network. One of the most advanced and sophisticated sustainability start-ups, Ec³ is set to use peaq’s technical capabilities for its core design, token issuance and IoT device connection.

Ec³ is building a DePIN of community-run solar-powered batteries for private and domestic use. It enables people to earn rewards in tokens by using sustainable energy, allowing private households to sell proofs of sustainable energy use as carbon credits.

This form of blockchain-based DePIN is expected to transform individual solar panels and batteries into a connected decentralized grid, enabling people and businesses to do more with their energy assets. 

To this end, Ec³ has built its Energy Cube, a device that can monitor green energy usage and upload it on-chain. By connecting it with a solar-charged battery, people and businesses can create Web3 certificates confirming their use of sustainable energy, while earning token rewards. These certificates can then be sold as carbon offsets as yet another incentive for responsible consumption of resources.

Felix Guo, the founder of Ec³, stresses the importance of this integration for ESG's entire workload on a global scale as well as for the real-world adoption of blockchain instruments:

We believe that the future of energy is green and decentralized. The DePIN model is perfect for bringing this vision to life — and peaq, thanks to its Modular DePIN Functions like peaq ID and its DePIN-friendly economics, is the best place for a DePIN like Ec³. We are excited to be moving ahead with this integration.

The exact details of hotly anticipated token launch are yet to be announced.

peaq now hosts 20 applications with over 250,000 devices across the ecosystem

Till Wendler, cofounder of peaq, is excited by the role of the new use case for the protocol and the L1 scene in 2024:

Moving to a more sustainable energy paradigm is crucial for the world’s long-term future. The distributed model has a lot to offer to the sustainable energy industry, and we’re excited to see Ec³ champion this push as it brings Web3 solar power carbon offsets on peaq.

So far, peaq has onboarded a total of over 20 applications in eight industries, and the 250,000+ devices, vehicles, machines and robots (Machine RWAs) that are running on them.

In turn, Ec³ addresses creating a DePIN focused on collecting discharge data from all energy storage devices.

As a decentralized energy network coalesced by people, Ec³ provides users with a way to get incentives by simply connecting Energy Cube, the small hardware mining device, with all the energy storage devices.

Built on top of dual tokenomics, Energy Cube ensures that users utilize the ECT cryptocurrency token for staking and credit minting. The credits can be used to purchase computing power or data in the future, and each credit will burn the corresponding amount of ECT.

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