krest Networkkrest Network price KREST
Krest Network statistics
- Market cap
- Volume (24h)
- Volume/Market cap (24h)
- Self-reported circulating supply
- 51,457,000 KREST
- Total supply
- 400,000,000 KREST
- Max. supply
- 400,000,000 KREST
- Fully diluted market cap
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krest Network news
About krest Network
krest is peaq’s canary network.
krest is the home for socio-economic, technical, community, and governance innovation and experimentation in the peaq ecosystem. This is the place where the peaq community can launch dApps and tools to assess their impact in a production environment without running the risk of causing real-world harm.
Simulation, the use of computers to digitally model a specific process or event without having to conduct it in the real world, has become a crucial part of many of today’s industries. In manufacturing, it enables companies to experiment with production line setups and other variables without having to invest money and time in costly real-world modifications; startups similarly rely on simulations to tailor their products to the market faster. While simulations usually run on a purely digital basis, krest brings this up a notch, giving projects building on peaq an environment for live tests leveraging real Internet of Things (IoT) hardware and connections.
By connecting their devices, such as Raspberry Pi mini-computers, to krest, the peaq community will create a pool of live devices capable of simulating the operations of various machines, such as drones, electric vehicles, and more. Users will receive rewards in the network’s native token for performing certain actions on the network.
Entrepreneurs and developers building machine-focused projects on krest will be able to leverage this pool to test their dApps with real-world IoT connectivity. This way, they can assess their dApps’ performance and wider societal impact, and uncover bugs and risks in cooperation with the wider community before releasing them for use with real-world machines on the peaq network. They can also develop and foster the adoption of their own simulation packages, tailored to their specific needs, besides using the existing ones.
The network will be powered by krest, its native digital token, which will be openly accessible on public exchanges. The token will fuel the network by being used for transaction fees, economic incentive mechanisms and working as a reward tool for community initiatives such as users connecting their devices and opening them for developers to leverage for simulating machines.