Web3 network peaq unveils its canary network krest on Kusama
- peaq is set to launch its canary network krest on Polkadot's canary chain Kusama.
- krest’s launch will allow developers to test their decentralised applications before they go live on peaq.
- The network will be powered by krest, a native crypto token for transaction fees and rewards.
Follow Invezz on Telegram, Twitter, and Google News for instant updates >
peaq, the Web3 network built to power the Economy of Things, has unveiled its canary network dubbed krest.
Per an announcement shared in a blog post on Tuesday, the test network is set to launch on Kusama, the canary chain for Polkadot (DOT/USD). Polkadot is developed by Parity Technologies, a Web3 firm founded by Gavin Wood.
krest gives devs a crucial test environment
krest will allow developers and users to test decentralised applications (dApps) and other tools within a real Internet of Things (IoT) environment. And with it, the peaq network’s community will be able to simulate the behaviour of devices, machines, robots and vehicles, before these go live on the mainnet.
krest is designed to offer builders and developers a platform on which they can test and check code for vulnerabilities likely missed in previous audits. The network will also allow developers to experiment with the economic and other community initiatives without the risks likely to be encountered on the mainnet.
Max Thake, the co-founder of peaq, said in a statement that krest is set to offer its users a “‘sneak peek into the future’,” with most of the products and features tested on the canary network eventually going live on peaq. According to him, krest offers the best environment to ensure projects that eventually enter the peaq ecosystem do not lead to real-world harm.
Siddharth Singhal, the Director for Enterprise at Parity Technologies, commented:
“We are very excited to welcome krest to the Kusama ecosystem, bringing real-world IoT connectivity to web3 and opening the floodgates of innovation for dApp builders on the canary network.”
According to Singhal, the launch of krest on Kusama provides a “pivotal stepping stone for web3 networks” and will help create real-world value and foster innovation across the ecosystem.
krest will be powered by a native digital token by the same name, krest, that will be available on public exchanges. The token will be used on the network for paying transaction fees and as an economic incentive or reward tool.