Subsquid and peaq Partnership: Accelerating Blockchain-Powered IoT Together

Subsquid and peaq are excited to announce the completion of a set of initial integrations, marking what is sure to be a highly impactful long-term collaboration. The partnership, which involves the implementation of Subsquid’s data processing solution into various aspects of peaq’s IoT-focused and EVM-compatible smart contract platform, will play an integral role in building the Web3 Economy of Things.

The partnership’s first successful action point was the deployment of a Subsquid Archive for peaq’s Substrate-based network. Following this, the partners got to work on creating a fully-tailored Squid API that will process data retrieved from the Archive. The focus for both teams has always been on propelling community-driven ecosystem growth. This Squid and its documentation will serve as examples to developers building dApps on peaq, as well as to analysts who wish to gain access to the network’s data.

Originally, Subsquid and peaq were brought together by a common vision of building better infrastructure for a decentralised future. Subsquid, which is building a ‘data backbone for the blockchain world’ through its various solutions, has long been inspired by peaq’s vision to transform the Web2-based Internet of Things into the Web3-based Economy of Things. In a future where humans can have real, trustless ownership over ‘things’ like vehicles, robots, and all kinds of devices, a great deal of on-chain data will need to be handled effectively. Subsquid is very much looking forward to working with peaq to make dApp development and analytics in such an environment not just possible, but easy.

“Connected devices are already a constant presence in our daily lives. As we transition globally to Web3, it is essential that we take these things with us,” says Dmitry Zhelezov, CEO and co-founder of Subsquid. “The peaq team is doing amazing work finding ways of bringing together technologies like NFTs, decentralised identities, and DeFi to accelerate a robust, censorship-resistant, Economy of Things. We’re absolutely thrilled to be providing data infrastructure to this growing ecosystem.”

Leonard Dorlöchter, Co-Founder and Chief Product Officer at peaq, added: “Having on-chain data easily and quickly accessible to builders of decentralised applications is essential for peaq’s mission to provide the best possible Web3 infrastructure for the Machine Economy. Thanks to its highly efficient indexing system, Subsquid enables that and is thus an essential building block for developing, deploying, and maintaining highly user-friendly applications on the peaq network.”

peaq is already doing a stellar job making it easier, faster, and more resource-efficient for builders of the machine economy to develop, deploy and maintain highly user-friendly applications. Subsquid’s solutions are now augmenting the core of this innovation. Those who would like to gain an insight into how peaq is currently utilizing Subsquid can do so by exploring the project’s official website. Anyone already building on the network can take a look at Subsquid’s documentation to learn more about getting started with Web3’s best development framework for backend infrastructure.

About Subsquid

Subsquid is an on-chain data processing solution that enables Web3 builders to gain access to on-chain data on their own terms. Featuring multi-layer architecture and decentralised governance, this is the most developer-friendly and resource-efficient way to build, test, and deploy customised APIs for all blockchain-facing applications.

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About peaq

peaq is the decentralized Web3 network powering the Economy of Things (EoT). peaq is designed to solve some of our biggest societal and economic challenges, ensuring that the incentives of people and increasingly intelligent machines are aligned. peaq users will be the driving force of a new sustainable economic model, beginning by disrupting the automotive industry. peaq empowers individuals, enterprises and governments to build, earn and govern on the network via EoT dApps. The peaq network is purpose-built for the EoT, enabling the secure, fast and frictionless transfer of value and data between machines and their users, at a low cost. peaq’s use of machine NFTs allows users to buy and sell stakes in the machine economy on the peaq network, effectively facilitating the monetization of machines. The network also allows developers to build a range of dApps on the network, creating the foundation for the EOT.

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Subsquid

Building a better standard for Web3 indexing and ETL. Support for EVM, Substrate, and WASM chains. http://t.me/subsquid & http://discord.gg/subsquid