Polkadot, Cosmos to Bridge Pseudonymous IDs via peaq, Fetch.ai
Fetch.ai and peaq bridge the gap between blockchains with a multichain Self-Sovereign Machine IDs for safer data exchange on Polkadot and Cosmos.
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Web3 network peaq and AI automation platform Fetch.ai released a multichain Self-Sovereign Machine Identities, which enables cross-chain data exchanges between connected blockchains via autonomous AI agents.
In an attempt to counter major issues in the decentralized space, where blockchains, by design, are standalone networks, blockchains Polkadot and Cosmos have been developing native interoperability solutions to address this issue. Maria Minaricova, director of business development at Fetch.ai, further stated:
“These interoperability solutions work only within their respective ecosystems. We take it a grade higher and enable exchanges between ecosystems, not within ecosystems.”
Wider interoperability that comes with pseudonymous IDs could enable important anonymity between decentralized energy grids, autonomous vehicles, supply chain management and healthcare systems and more, leveraging multiple blockchains and information for better efficiency and coordination.
peaq is part of the Polkadot multichain ecosystem, while Fetch.ai operates in the Cosmos IBC ecosystem, connecting to a decentralized address book on peaq. The two ecosystems can exchange data via multichain Machine IDs, creating an autonomous agent when a Machine ID is created on peaq.
The agent’s address and wallet in the Cosmos ecosystem will be added to the address map on peaq. The agent can then collect any associated data by pinging the peaq blockchain, enabling cross-chain data exchanges between vehicles, robots and devices. Till Wendler, co-founder of peaq, stated:
“The multi-chain Machine IDs are the first step toward [the future of Web3], and as such, they open limitless opportunities before developers in both ecosystems.”