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peaq launches peaq verify, the DePIN data verification framework

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peaq, the blockchain for real-world applications, unveils the first version of its data verification framework, which is already being adopted by two decentralized physical infrastructure networks (DePIN) in the peaq ecosystem — NATIX and Silencio. peaq’s DePIN data verification framework will be broken into three tiers. Tier-1 verification, which enables devices to cryptographically sign any data with its own private key for others to verify provenance, is already live on peaq’s Github. The second tier, currently in development, leverages machine learning to review patterns in the data reported by devices and flag the abnormal readings. Tier-3 verification brings the concept even further and taps a trusted oracle to cross-reference the data sourced by devices. 

DePIN, a Web3 sector drawing all the eyes in the space, leverages thousands of community-owned devices to render real-world services. Whether it’s selling energy from solar panels or data from smart sensors, the process includes a lot of data exchanges — especially when data itself is the goods. It is thus crucial to verify that behind every datapoint is a real device that provides an actual service. In Web2, it would be baked-in controls and centralized platforms doing that, but in Web3, such verification is more of a challenge — so much so that it ended up on the Nakamoto Challenge by a16z.

At the core of the challenge is the fact that there is barely a solution to account for all possible use cases and scenarios when it comes to decentralized data verification. As an example, let’s consider a delivery truck with a cargo that’s supposed to be kept at a temperature below a certain level — a real use case shared by one of peaq’s enterprise partners. The temperature throughout the drive is usually measured with a sensor, which can collect the data and sign it with its private key. Sometimes, though, the driver would put chewing gum on the device to meddle with its readings and trick it into thinking the cargo is sufficiently cooled. In this scenario, the sensor will keep signing the data — but the records will be inaccurate. In this case, Tier-1 verification would sign the wrong data as authentic, but Tier-2 and Tier-3 verification is needed to recognize the anomalous data in the first place. 

peaq’s framework for decentralized data verification includes three tiers, complimenting one another to make a robust system for trustless peer-to-peer data exchanges:

  • Tier-1 verification enables devices that are capable of supporting it to sign the data using its own private key and store the verification on the peaq blockchain. Anyone can use the device’s public key to verify the cryptographic signature, confirming that the data has indeed been signed by the device and hadn’t been tampered with. This enables DePINs to source data from millions of devices from around the world while ensuring its integrity.
  • Tier-2 verification leverages machine learning to seek out the patterns in the data and flag anomalies. It merges the blockchain and AI technologies, enabling the network to mark the data that fits into the pattern as tier-2 verified, adding another layer of security. This would help DePINs and their participants weed out anomalies and irregularities in their data flows, potentially spotting faulty hardware or malicious actors.  
  • Tier-3 verification includes a trusted oracle to cross-reference the data against. For example, a DePIN could set up a trusted sensor in a specific location to work as an oracle for temperature and humidity in the area and check the readings reported by community devices in the area. The data with an anomalous deviation wouldn’t be marked as Tier-3 verified, introducing an additional safeguard for the framework.

With the first release, Tier-1 verification is already available for projects within the peaq ecosystem to implement in their DePIN, both counting dozens of thousands of devices. The first two DePINs to get to work on integrating it are NATIX, a privacy-first company focused on AI and IoT real-world use cases, and Silencio, a community-powered network that rewards users for providing hyper-local noise pollution data. NATIX will implement the framework in its Drive& DePIN for AI-powered world-mapping, while Silencio will enable the sensors on its noise pollution measuring network to sign the data with their keys.

“peaq’s device data verification framework is a major boost for DePIN as it takes on one of the core challenges for the sector,” says Alireza Ghods, co-founder of NATIX Network. “It enables the devices on any given DePIN to act as providers of trusted data, making its easier to track the provenance of any data point to a specific device. It’s a nuanced and comprehensive system that embraces both security and the core Web3 values.”

“For many DePIN, data is both their lifeblood and their actual product, their value proposition,” says Theo Messerer, co-founder of Silencio Network. “Making sure that this data is verified, reliable, and trustworthy is thus an absolutely crucial condition for success — and peaq’s system enables builders to do just that, in a transparent way and with multiple layers and safeguards.”

“peaq’s approach to data verification offers builders a lot of versatility while being cryptographically-secure and reliable,” says Till Wendler, co-founder of peaq. “It’s inspiring to see its adoption among builders so early — that is the ultimate testimony proving how needed the feature was in the sector.”

The post peaq launches peaq verify, the DePIN data verification framework appeared first on HIPTHER Alerts.

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Gamifying the Online Casino Experience with NFTs

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Australian online gambling operators are utilizing gamification strategies to enhance player experience, incorporating features like progress bars, NFTs, VIP programs, and PvP tournaments, despite concerns about addiction and legality.

Online gambling operators in Australia are increasingly using gamification strategies to tap into people’s natural desire for status, achievement, and competition. Features like progress bars, points, and tiered levels give players a sense of advancement as they continue wagering. Fun mini-games and quests add variety. Leaderboards foster social competition, while badges and trophies provide recognition.

Powered by non-fungible tokens NFT technology, players can now earn tradable digital rewards with real-world value and scarcity. Winning unique virtual collectibles and assets drives further engagement.

Loyalty Programs Redefined

A core area getting a gamification boost from NFTs is VIP and loyalty programs. Players can now earn tradable loyalty NFTs.

Source: blockchain.news

 

The post Gamifying the Online Casino Experience with NFTs appeared first on HIPTHER Alerts.

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Paris Saint-Germain begins Web3 drive as a new blockchain validator for Chiliz Chain

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The French football club aims to explore various avenues in the cryptocurrency sector, starting with becoming an infrastructure provider to Chiliz Chain.

French football giant Paris Saint-Germain (PSG) is set to deepen its Web3 and SportFi involvement by becoming a validator for fan token blockchain Chiliz.

Cointelegraph recently traveled to Paris to speak exclusively to Chiliz founder Alexandre Dreyfus and PSG head of Web3 Pär Helgosson about the evolving partnership between the football club and the blockchain platform.

PSG is the first major football club to become a blockchain protocol validator and is set to reinvest revenue generated as a validator to buy back PSG tokens. The move is touted as a way to create a self-sustaining digital economy for the club and its fan base.

The Chiliz Chain is the infrastructure underpinning Socios, the platform that issues and manages fan tokens for over 150 professional football clubs and sports teams. PSG was an early adopter of the technology and launched its fan token on Chiliz in September 2018.

The club intends to explore opportunities in the broader cryptocurrency, Web3 and SportFi spaces, with Helgosson spearheading the efforts.

Venture capital firm Animoca Brands joined Chiliz Chain as a validator of its proof-of-stake protocol in November 2023 after Chiliz revamped its tokenomics model. Chiliz introduced a new inflation-staking rewards mechanism for CHZ holders and the integration of the transaction fee protocol burning scheme EIP-1559.

PSG gets first shot at token buy-back mechanism
Helgosson told Cointelegraph that PSG will use its accrued revenue as a node validator to carry out PSG fan token buybacks from public marketplaces. The buybacks will be automated and executed by smart contracts through its validator and on decentralized exchanges on the Chiliz Chain.

The program aims to increase revenue from the club’s validator through gas fees and supply inflation that are reinvested into PSG tokens. The club is interested in refreshing its token reserves to create a self-sustaining economy:

“We’re aiming to build a sustainable tokenomics model together where the club, because of our role as a node validator, can use the profits to buy back fan tokens and use them to reinvest back into the fan ecosystem.”
Helgosson says the move is expected to provide rewards, new utilities, functions, products and services that will benefit PSG tokenholders, sponsors and players.

PSG and Chiliz are also planning a blockchain hackathon hosted at the club’s iconic Parc des Princes stadium in the summer. The event aims to attract developers to build decentralized applications and products incorporating PSG tokens on the Chiliz Chain.

An alternative for sports organizations
Dreyfus tells Cointelegraph that PSG’s move to become a validator could be a catalyst for other clubs to follow suit and better understand how the ecosystem’s tokenomics work.

“As for the drawcard, PSG is going to play an active role in the operations of the Chiliz ecosystem, meaning they will help build trust and attract more brands and developers, also by co-hosting hackathons with us at their stadium,” Dreyfus explained.

Chiliz and Socios have been focused on building products and experiences for the broader sports industry. Dreyfus believes that its protocol needs stakeholders from the space to participate in its governance and ongoing operation.

The Chiliz founder says his long-term goal is to have dozens to hundreds of validators comprised of sports organizations, fan-owned nodes and cryptocurrency firms. The hope is that PSG’s move will prompt other major clubs to consider becoming node operators.

“This is a new income source for them, diversification, but also being part of the network effect brings value to everybody involved.”
PSG’s Web3 play
Off-the-record conversations with Helgosson reveal that PSG is ambitiously exploring a multitude of ways to diversify revenues and offerings in the cryptocurrency and blockchain ecosystem.

The club’s investment in becoming an infrastructure operator of Chiliz blockchain marks the start of its moves to actively participate in the Web3 ecosystem. PSG has explored and launched several nonfungible token collections, some of which offer exclusive rewards to holders.

Helgosson would not disclose the details of its investment or capital allocation for the Chiliz node-as-a-service partnership but said the club intends to actively engage and reinvest with its Web3 partners.

He highlighted that being a node validator is a core component in building a sustainable tokenomics model for the Paris Saint-Germain Fan Token ecosystem and Chiliz.

Source: CoinTelegraph

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Luxury brand blockchain platform Arianee aims to scale, launches L2 on Polygon

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Arianee has launched a Polygon CDK-powered layer 2 to issue and manage digital product passports for various luxury brands and companies.

Luxury brand blockchain infrastructure provider Arianee has developed a new layer 2 built on Polygon to scale its digital product passport platform used by various luxury brands and companies.

Arianee has been developing the optimized layer 2 since early 2023, using Polygon’s zero-knowledge proof (ZK-proof)-powered Chain Development Kit (CDK). Arianee co-founder and CEO Pierre-Nicolas Hurstel spoke to Cointelegraph about its reengineered infrastructure, allowing brands and developers to design highly customizable, cost-effective and performant digital passports and tokens linked to real-world products and assets.

“We exclusively build on EVM [Ethereum Virtual Machine], catering to enterprise and scalable use cases. When striving to deliver a service that operates seamlessly, universally and with predictable costs, it remains hard and risky to build on L1 or even on Polygon mainnet,” Hurstel explains.

The Arianee CEO said the company is focused on supporting brands engaged in scalable, high-performance and evolutive projects, which “demand an environment allowing precise control over efficiency in terms of both costs and energy consumption.”

Arianee’s native protocol token will be used for payments within the Polygon CDK application-specific chain (appchain), which is bridged to the Aria20 ERC-20 token on the Ethereum mainnet. Launching the layer-2 appchain will allow brands to launch and manage their digital product passport and loyalty tokens.

Arianee is currently the infrastructure provider to more than 40 brands, including Breitling, Moncler, Yves Saint Laurent and Lacoste. Luxury watch brands like Breitling issue digital product passports on the protocol to give owners blockchain-based proof of ownership.

These digital passports are nonfungible tokens (NFTs) that provide customizable utility for their real-world counterparts. Owners own and control their data and can interact with manufacturers to organize and manage product repairs, warranties, insurance and other services.

Polygon’s CDK is expected to deliver increased scalability and performance driven by ZK-proof technology. Brands using Ethereum’s ERC-721 token standard to issue NFTs and digital passports can also integrate existing infrastructure to Arianee’s protocol using the Polygon CDK.

Another drawcard of the new layer-2 functionality is the provision of block space dedicated to individual applications on the protocol. This is touted to reduce the impact on user experience as a result of high network activity. Polygon’s scaling infrastructure also reduces the operational costs of applications and services associated with gas fees and smart contract execution.

Polygon released a new Type 1 prover in February, allowing ecosystem chains like optimistic rollups to unlock ZK-proofs’ layer-2 functionality. The open-source technology unlocks the ability to generate ZK-proofs for mainnet Ethereum blocks at near-zero cost.

Source: CoinTelegraph

The post Luxury brand blockchain platform Arianee aims to scale, launches L2 on Polygon appeared first on HIPTHER Alerts.

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