Soarchain is a decentralized physical infrastructure network (DePIN) built on Solana, focused on real-time data sharing in transportation.
It uses smart contracts to verify vehicle data, enabling decentralized applications (dApps) that improve road safety, data management, and eco-friendly transportation options. Participants earn rewards by proving availability using V2X technology.
This article will explore what makes Soarchain unique and how you can become part of this growing network.
How Does Soarchain Work?
Soarchain a decentralized layer that allows real-time data transactions between vehicles. And the cool part? It’s trustless and permissionless. This means cars and other vehicles can connect directly, without needing any central authority to oversee or approve their data.
Now, vehicles equipped with Soarchain devices are constantly generating real-time data about their surroundings. This data is cryptographically verified, which means it’s locked in and proven accurate.
The broadcasted messages from each vehicle are cross-checked by others in the network. This makes sure that only reliable data circulates, building trust in the info being shared.
So, why would vehicles share their data? Simple: rewards. Vehicles that provide verified, accurate data earn $SOAR tokens. These rewards incentivize vehicles to keep sharing useful, real-time data, contributing to a more secure and transparent transport network.
Soarchain’s smart contracts enable decentralized applications, or dApps, to operate on top of this network. These dApps create a whole ecosystem around mobility solutions, from improved road safety to better traffic management and eco-friendly transportation options.
SOAR Tokens and Their Distribution
$SOAR tokens are used as a currency within the network and as a reward for participants who contribute to the system. It ensures that transactions and smart contracts on Soarchain run smoothly while keeping participants engaged.
Soarchain has a total supply of 1.9 billion SOAR tokens, with the distribution carefully planned to maintain long-term growth. About 45.6% of these tokens were part of the initial supply, while the remaining 54.4% were set aside for network rewards. These rewards are given to those who actively participate and contribute to the network’s stability and reliability.
Now, the distribution of these rewards is split across four main groups. Here’s how it breaks down:
- V2N Rewards (22.6%): This portion goes to vehicles that broadcast data directly to the network. When vehicles share accurate information—like location or environmental data—they earn tokens as a reward. The more data they share, the higher their rewards, but there’s also a system to reduce rewards over time gradually. This keeps the economy balanced as more vehicles join the network.
- V2V Rewards (15%): This goes to vehicles that communicate directly with each other (vehicle-to-vehicle). It incentivizes cars to share data with nearby vehicles, which could be useful for real-time traffic updates or road safety alerts. This type of direct communication strengthens the network, making it more robust.
- Staking Rewards (11.8%): Network participants who stake SOAR tokens help secure the network and earn a portion of the rewards in return. This staking mechanism encourages long-term commitment from participants and helps keep the network stable.
- Guardians (5%): Guardians are special nodes that validate data and ensure network security. They verify all messages within Soarchain, acting as the backbone of the network’s security. To recognize their critical role, Guardians receive a dedicated portion of the rewards.
The remaining SOAR tokens are allocated for the Strategic Reserve and early investors, which helps fund development, partnerships, and other initiatives.
Applications of Soarchain Network
Soarchain’s decentralized network opens up a range of practical applications aimed at making transportation smarter, safer, and more efficient.
Road Safety
Soarchain prioritizes road safety by allowing vehicles to communicate crucial information that can prevent accidents and protect vulnerable users.
- Collision Avoidance: Alerts drivers about potential hazards, such as stationary vehicles or sudden obstacles, giving them time to react and avoid accidents.
- Emergency Vehicle Notification: Helps emergency vehicles, like ambulances, notify nearby drivers to clear the way, speeding up response times.
- Vulnerable Road User Safety: Warns drivers about nearby pedestrians or cyclists, enhancing safety for those who are less visible and more exposed.
Data Collection
Soarchain enables secure and private data collection that complies with high mobility standards and preserves user privacy.
- Encrypted Storage: Data is stored off-chain, with cryptographic signatures on-chain, ensuring the data’s integrity.
- Permissioned Access: Only authorized entities can access collected data, supporting private transactions and user-controlled data sharing.
- Diagnostics and Predictive Maintenance: Real-time diagnostics and historical data help detect issues early and predict future maintenance needs, saving on repair costs and extending vehicle life.
Device Management
Managing connected devices securely and efficiently is a core function of Soarchain’s decentralized platform.
- Remote Configuration: Smart contracts automate and verify remote configuration of vehicle devices, ensuring secure setups.
- Secure OTA Updates: Over-the-air updates are conducted without a central server, providing secure and reliable software updates for vehicles.
- Network Health Monitoring: Connectivity performance can be monitored in real-time, enabling network providers to assess and optimize their wireless infrastructure for reliable vehicle communication.
Collective Perception
Collective perception applications allow vehicles to pool data, creating a clearer picture of their surroundings and improving decision-making.
- Platooning: Vehicles coordinate in close formations, improving traffic flow and safety.
- Collective Sensor Fusion: Vehicles share sensor data, like radar and camera feeds, to create a more accurate and comprehensive view of the environment.
- Flow Optimization: Vehicles communicate with each other and infrastructure to coordinate movements, reducing congestion and enhancing traffic flow.
Services
Soarchain’s infrastructure supports a variety of third-party services that benefit both users and providers by leveraging real-time data and secure connectivity.
- Insurance: Real-time driving data enables insurers to assess risks more accurately, adjust premiums, and encourage safer driving.
- EV Charging: Smart contracts facilitate automated payments at EV charging stations, eliminating the need for third-party transaction processing.
- Teleoperation: Enables secure remote control of vehicles, useful for scenarios where precise navigation is required.
How to Be a Part of Soarchain Network?
To join the Soarchain network, you start by getting a Soarchain Mini device. This small, plug-and-play gadget connects your vehicle to the network, enabling it to share valuable real-time data like engine diagnostics, fuel consumption, battery levels, and more.
You can get your Soarchain Mini device from HeliumDeploy, the official Soarchain partner.
Once connected, your vehicle becomes an active part of the decentralized mobility ecosystem, broadcasting data that helps power applications for things like predictive maintenance and smart insurance.
Each time your vehicle contributes verified data, you earn $SOAR tokens. These tokens can be spent within the Soarchain ecosystem or traded for other currencies. Plus, you’ll get access to real-time diagnostics and other useful mobility applications, enhancing your vehicle’s performance and safety.
When you buy a device you become a Runner on the Soarchain network. Runners provide the processing power and verification needed to keep the network secure and efficient. They verify vehicle data to make sure it’s accurate, and handle complex tasks like AI diagnostics and predictive maintenance.
Ready to Join the Future of Mobility?
The sooner you become a part of Soarchain, the more benefits you’ll enjoy. You can turn your car into a part of a bigger, more connected system, all while earning rewards just by sharing valuable data.
Don’t wait to take advantage of this new technology—get your Soarchain Mini device today!