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What are Onchain Machines?
Machines can be connected to $PEAQ blockchain, turning them into "onchain machines."
These machines can have a verifiable identity and a wallet on the blockchain, allowing them to earn tokens, interact with smart contracts, and participate in decentralized networks.
This shift moves value from centralized corporations back to the people and communities who own and use the machines.
Benefits of onchain machines include:
1. Real-time incentives.
2. Community ownership.
3. Transparency.
4. Global accessibility for funding.
The text contrasts this with traditional IoT devices, which operate in closed, centralized systems.
Onchain machines are foundational to the Machine Economy, powering concepts like DePIN and Machine DeFi, with real-world examples already active on the @peaq network.