Decentralized storage protocol DeNet, a trailblazer in the segment of data for DePIN, has begun the migration from Polygon (POL) to peaq
DeNet, a decentralized storage protocol that provides a data storage layer for decentralized pinning (DePIN), has begun migrating from Polygon (POL) to peaq, a layer-1 blockchain for DePIN and real-world assets.
DeNet is a trailblazer in the DePIN segment, and as part of this collaboration, the protocol will launch two utility tokens. DeNet is building a decentralized pinning (DePIN) storage layer that utilizes existing capacities to enable people and businesses to take back ownership of their data.
With 100,000 DeNet Storage users globally and over 13 million uploaded files, DeNet has a proven track record of delivering value to the Web3 community, with tokenized storage capacity at nine petabytes. DeNet has a community of datakeepers from over 25 countries and is able to upload more than 16,000 years of HD video.
Originally developed in the Polygon (POL) ecosystem, DeNet will now be migrating to peaq ahead of the latter's mainnet launch. This strategic migration will bolster the DePIN sector as more use cases and adoption drive demand for privacy-first, decentralized data storage.
After the transition, DeNet will mint its storage token, TBY, and deploy its key smart contracts on peaq. Furthermore, DeNet will shift its main applications, nodes and the highly successful Store&Earn program, which is set to reach a broader audience by launching on peaq.
Following this integration, DeNet will launch its DENET multi-purpose token on the peaq network and integrate its SDK with the peaq SDK. Developers who wish to build on peaq, as well as projects that are already integrated into the peaq ecosystem, will be able to natively utilize DeNet's DePIN Storage Layer.
This caters to the massive market demand for 100% decentralized services. Rafik Singatullin, co-founder at DeNet, believes that this new integration will pave the way for game-changing advancements in the DePIN sphere.
DeNet empowers individuals to contribute their unused storage capacity to a fully secure network, where all participants are exceptionally rewarded. The DeNet Storage Protocol enables anyone to build innovative and secure services. This inherent flexibility is strategically designed to position us as pioneers in the rapidly evolving multipolar landscape.
Leonard Dorlöchter, co-founder of peaq, anticipates completely new data storage designs to be realized as part of this collaboration.
The decentralized pinning (DePIN) model has the potential to revolutionize data storage, making everyone a stakeholder in the fast-growing data economy while also making it more sustainable and fair. DeNet is leading this charge, which we are excited to see unfold in the peaq ecosystem.
With DeNet’s DePIN, anyone can earmark the unused hard drive space on their PC or other devices and earn rewards for decentralized data storage services. The DePIN offers developers virtually unlimited scalability and gives the community a chance to store data in a decentralized and private manner and earn rewards from contributing their storage capacities.
As reported by U.Today, earlier this year, the peaq ecosystem welcomed Kaisar Network and Ecoutput into its fold.
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