Check out Fraser Edwards from cheqd at Token 2049 in our video. The link is in the next section. While he is talking about his project, he brings up something very important. And surprise, that’s the topic of today’s article. I am talking about the importance of decentralized infrastructure. If our Web3 infrastructure isn’t going to be great quality AND decentralized, then what’s even the point of switching away from Legacy Web2 technologies?
Today we take the same questions we asked of cheqd and find the answers from 2 other high-potential infrastructure projects too. It is all about infrastructure.
cheqd
Our first high-potential infrastructure project is cheqd ($CHEQ). They are all about decentralized ID and data control. Check our video with Fraser, and how he answers the following questions.
Q1: What’s Missing for Higher Adoption?
Data control and ownership is what cheqd is all about. The idea is that your data is stored in a decentralized way, and you control who accesses what part of that data.
As cheqd CEO Fraser Edwards says here, many of us now see that we’ve given too much info to Facebook, Google, Amazon, and Microsoft. And because of it, there is a very real use case to use blockchain to allow for the use and inclusion of similar apps. But with the important difference of the control of our data staying with us.
He says, and we agree, that this is the time to hit it hard with this use case. People are finally starting to see how much they have given away for “free”.
Q2: What Are You Building?
Fraser says it pretty well with decentralized online credentialing and self-sovereign IDs.
Q3: Key Web3 Trend
Fraser says that while there is less AI hype now, there are better, more tangible use cases for it.
This is especially true in content and in credentialing and verifying real content from fake content. With so many elections going on now around the world, fake content trying to pass off as real is everywhere.
Fraser calls this union of AI with decentralized IDs and credentials the name Verified AI. I like it. And it’s important.
And then Fraser talks about mergers and partnerships in the industry and how they are working together with Dock now to get seamless decentralized ID all over crypto.
We got some more footage from cheqd during our interview with them at Token2049. In fact, we will have the entire video available on our website for you to check out.
You can hear about what other projects Fraser likes in the industry, which L1s and L2s he is high on, and what building on Cosmos has been like for the project.
The $CHEQ token is available on both CEX and DEX options, with the DEX options being the usual suspects from Cosmos like Osmosis and Kujira, as well as Uniswap.
Peaq
Peaq is the DePIN or DePINs. They are creating the infrastructure that other DePIN projects need. And they are getting a TON of adoption already. As the decentralized infrastructure, they are more than just IoT (the Internet of Things) they are the Economy of Things.
Q1: What’s Missing for Higher Adoption?
As you heard co-founder Leonard Dorlochter say, the combination of decentralized data control and privacy are the key missing pieces to higher adoption.
And you know we agree with this as we’ve been saying for a while that at least some privacy regarding transactions is necessary or people can easily become targets.
Q2: What Are You Building?
The Peaq team, and as you see in this video as well, say it pretty clearly. They want to use technology to cut out the middleman and take us back to peer to peer dealings and transactions.
One cool example was with charging stations for electric cars. Peaq is setting it up so that anyone with an electric car will be able to go, use, and pay for any charging station on their route. This helps charging station makers like Chargepoint earn more and even Tesla can earn more this way too. And that’s all while making it easier for you as the electric car driver to charge your car when you need to.
And don’t forget, the $PEAQ token TGE is coming any day now so watch Peaq’s website and socials for more info.
Pyth ($(PYTH)
Pyth ($PYTH) is the biggest oracle in the industry not named Chainlink. Chainlink has a big lead as a first mover, and it is widely used. Yet, there is room for multiple winners in this important infrastructure category. And we think Pyth will win too. Pyth is a financial market oracle only. That’s their specialty. And let’s get to the questions.
Q1: What’s Missing for Higher Adoption?
As you heard from this talk from last year’s Breakpoint, first Pyth thinks we need cross-chain adoption to be better and more seamless. If more people can transfer assets between chains more easily, then more will use blockchain.
Q2: What Are You Building?
Pyth is building a truly decentralized oracle specifically for financial information that traders rely upon.
And here is how a price feed works, with the “publishers” publishing what they believe the price is and how they get to a consensus price through honest aggregation to prevent price manipulation.
Now, as you might guess, DeFi and RWA benefit the most. Trading and tokenizing of assets is where Pyth wants to be.
RWA is also the sector most exciting to the Pyth team and Pyth fans, as this is where the growth will come from.
Pyth’s native token $PYTH is everywhere and built on Solana, so make sure you have a compatible wallet to hold it.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by cheqd.
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This articles is written by : Fady Askharoun Samy Askharoun
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