MapMetrics Collaborates with peaq to Boost Web3 Navigation Capabilities

Published: November 23, 2023 at 5:52 am Updated: November 23, 2023 at 5:52 am

Edited and fact-checked:
November 23, 2023 at 5:52 am

In Brief

MapMetrics extends its reach to peaq from Solana, following the integration of Solana compatibility with peaq’s Multi-Chain Machine IDs.

MapMetrics Integrates with peaq, Expanding its Web3 Navigation Capabilities

Solana-based Web3 navigation app MapMetrics plans to improve its DePIN. The platform announced it will use peaq’s new Solana-compatible Multi-Chain Machine IDs.

With peaq’s addition of Solana compatibility to its Multi-Chain IDs, MapMetrics can now integrate these IDs into its navigation system.

This aims to enable the assignment of unique IDs to navigator devices within its network, authenticating the data these devices collect, and facilitating a community voting mechanism. This integration represents a major step forward in improving the security and efficiency of data collection and authentication in MapMetrics’ DePIN.

“We believe in an open, Multi-Chain Web3 with seamless communication and value exchange between a plethora of protocols,” said Till Wendler, co-founder of peaq. “By making peaq IDs compatible with Solana, we take another step toward bringing this vision to life — and it’s invigorating to see excellent projects such as MapMetrics use this technology to solve real business problems with the DePIN model.”

MapMetrics Adopts Web3 Technology

MapMetrics is transforming the traditional navigation landscape by utilizing Web3 technologies. By employing location trackers, users can share anonymized data with the network, earning cryptocurrency and NFTs as rewards.

MapMetrics differs from apps like Google Maps, which monetize user data. It ensures privacy and shares ad revenue with its community. The network boasts 3,500 devices and 5,000 users across 73 countries. The platform aims to change how user data privacy and monetization work for navigation.

The collaboration with peaq will enable MapMetrics to use peaq’s Multi-Chain IDs for connecting devices to the peaq network, further enhancing the functionalities of its DePIN.

This includes using peaq IDs to sign anonymized data collected by devices and developing a community voting pallet. This feature will allow users to contribute to the navigation service by adding and validating locations like speed cameras.

Exciting News in the DePIN Space! Techtics Engineering and @peaqnetwork join forces for hardware advancement. Bridging the gap between software and hardware in decentralized infrastructure networks. Check out the article for the full scoop: https://t.co/UqTTE1yXhJ

— MapMetrics (@MapMetrics) November 21, 2023

peaq’s Multi-Chain IDs Enhance Cross-Chain Connectivity

peaq’s expansion to include Solana in its ID compatibility is a major development, facilitating cross-chain communication and information exchange.

This integration, which follows previous updates making peaq IDs compatible with Binance’s BNB Chain, Ethereum Virtual Machine and Cosmos, is part of peaq’s vision for a Multi-Chain Web3 ecosystem. The compatibility with Solana will open new opportunities for MapMetrics and other Solana-based projects to integrate with peaq’s DePIN functions.

“With its DePIN-focused functions and economics, peaq is the perfect home for DePINs,” said Brent van der Heiden, CEO of MapMetrics. “We are excited to be joining this bustling ecosystem, and the newfound compatibility between peaq IDs and Solana addresses is making this process significantly more convenient.”

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master’s degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

Nik Asti