peaq leverages Fetch’s autonomous AI agents to enable multi-chain identification and data exchange between vehicles, robots, and devices on Polkadot and Cosmos.
peaq, the Web3 network powering the Economy of Things, unveils multi-chain Self-Sovereign Machine Identities enabled by autonomous AI agents at Fetch.ai, an innovative platform that powers peer-to-peer applications with automation and AI capabilities. The multi-chain data exchanges between connected devices on peaq, a layer-1 blockchain within the multi-chain Polkadot ecosystem, and Fetch.ai, a layer-1 blockchain in the interchain Cosmos IBC ecosystem, are enabled by a decentralized address book on peaq. Through the integration, now live on peaq’s Github, peaq brings a chain designed to power decentralized physical infrastructure networks (DePINs), a major trend in the Web3 space, into the Cosmos ecosystem.
While siloed databases are among the most common criticisms that the Web3 community levels at Web2, a similar issue haunts the decentralized space too. Most blockchains are by design standalone networks designed to work as a backbone for their respective ecosystems, which turns the Web3 space into a conglomerate of largely closed-off networks. Rising up to the challenge, Polkadot and Cosmos are the top Web3 projects pioneering native interoperability for a better-connected and more open Web3.
The multi-chain Machine IDs on peaq bring this push for interoperability further by enabling decentralized data exchanges between the two multi-chain ecosystems. At the core of the functionality, which expands the earlier integration between the two projects, is a decentralized address book running as part of peaq’s storage pallet. When creating a Machine ID on peaq, a user will have the option to add its address on the network to this address book.
Should the user opt to do so, an autonomous agent will be created on Fetch.ai’s Agentverse, and its address and wallet in the Cosmos IBC ecosystem will be added to the address map on peaq together with the machine’s peaq ID. The agent then repeatedly pings the peaq blockchain to collect any data associated with the address on peaq that’s associated with its Cosmos address on the address book. This process enables multi-chain data exchanges between vehicles, robots, and devices on the Polkadot and Cosmos ecosystems.
The innovation advances peaq’s vision of a multi-chain Economy of Things spanning multiple blockchain ecosystems. It will enable wider Economy of Things interoperability through multi-chain machine communication and interactions: as an example, an electric vehicle on a Cosmos blockchain could discover an available charging station on peaq. Other use cases it can enable include:
Decentralized Energy Grids: Multi-chain Machine IDs enable cross-network energy sales in a smart city where the public grid and private units such as solar panels run on different blockchains. This optimizes energy management across the network and makes it more sustainable.
Shared Autonomous Vehicles: Fleets of autonomous vehicles on different blockchains can use multi-chain Machine IDs to communicate with each other, optimizing the traffic flow and streamlining ride-sharing.
Supply Chain Management: Multi-chain Machine IDs enable end-to-end tracking and coordination of goods and services in a global supply chain leveraging different machines on different blockchains at different stages.
Healthcare Systems: Multi-chain Machine IDs enable data-sharing among medical devices running on different blockchains, resulting in more comprehensive and efficient healthcare.
Multi-chain Machine IDs may also pave the way for multi-chain crowdfunding of fleets of connected vehicles, robots, and devices via peaq’s Machine DeFi suite, as well as multi-chain identity management, and transactions involving multiple identities on multiple blockchains. They position peaq as the multi-chain hub for DePIN projects across the Polkadot and Cosmos ecosystems and will soon be accessible via peaq’s SDK, which greatly simplifies their deployment for builders.
"Collaboration is key in the Web3 space," said Maria Minaricova, Director of Business Development at Fetch.ai. "To maximize the potential of our AI Agents, we believe in utilizing multichain communication across devices. By bringing together the Polkadot and Cosmos ecosystems, we create value for everyone involved."
“The future of the Economy of Things is on Web3, and the future of Web3 is multi-chain,” says Till Wendler, co-founder of peaq. “The multi-chain Machine IDs are the first step toward this, and as such, they open limitless opportunities before developers in both ecosystems. We are excited to see peaq IDs and Fetch.ai’s Autonomous Agents make the Economy of Things immune to fragmentation.”
