Latest Hivemapper News

In a recent analysis of a16z's report on the "State of the Crypto Industry," Lily Liu, Chair of the Solana Foundation, highlights a notable EVM bias that overlooks Solana's impressive achievements in transaction fees, NFTs, and the DeFi market. Despite Solana leading in NFT addresses and transaction volume over the past year, the report fails to acknowledge significant innovations in decentralized physical infrastructure networks (DePIN), such as Helium and Hivemapper, which thrive within the Solana ecosystem. Liu argues that the report's binary framework, which positions EVM and non-EVM ecosystems as oppositional, misrepresents the true landscape of blockchain development and user engagement. Liu emphasizes the importance of transaction fees as a more meaningful metric for assessing ecosystem activity and health, rather than relying solely on active addresses or Total Value Locked (TVL). Since introducing a fee market, Solana's transaction fee market share has surged from below 1.5% to consistently above 10%, peaking at 25% in July 2024. This shift indicates a growing economic value within the Solana ecosystem, narrowing the gap with Ethereum when considering Real Economic Value (REV). Furthermore, Liu critiques the report's gaming sector analysis, which fails to adequately include non-EVM networks like Solana, leading to incomplete comparisons that do not reflect the full blockchain gaming ecosystem. Additionally, Liu points out that the report's focus on TVL for DeFi comparisons is insufficient, as it overlooks critical metrics such as transaction volume. While Solana's TVL is only 10% of Ethereum's, its monthly DEX transaction volume often exceeds that of Ethereum, highlighting its capital efficiency. Liu also notes that Solana's low transaction costs have driven significant consumer behavior changes, exemplified by the success of platforms like Drip Haus. The absence of DePIN innovations within the report raises questions about its comprehensiveness, as groundbreaking projects like Helium and Hivemapper are primarily developing within the Solana ecosystem, showcasing the real-world applications of decentralized networks.

The emergence of Decentralized Physical Infrastructure Networks (DePin) is addressing a critical question in the cryptocurrency space: what practical applications does blockchain technology offer? DePin represents a shift towards utilizing blockchain for solving real-world issues, moving beyond speculative tokens. Projects under DePin, such as Hivemapper, Helium, and GEODNET, are leading the charge by leveraging blockchain to create innovative solutions that can be easily understood and utilized by the general public. Hivemapper is revolutionizing mapping technology by allowing users to contribute to a live, high-definition map of the world. Users can purchase a 4K dashcam that maps roads as they drive, earning HONEY tokens in the process. In less than two years, Hivemapper has mapped over 330 million kilometers of roads, significantly outpacing traditional mapping services like Google Maps. Meanwhile, Helium has established a global IoT network by selling mini cell towers, allowing individuals to earn HNT tokens for providing internet coverage. With over one million hotspots deployed, Helium is also expanding into mobile services, demonstrating the scalability of its decentralized model. Another noteworthy project, GEODNET, aims to enhance GPS accuracy by utilizing a network of satellite miners installed on rooftops. This innovative approach offers centimeter-level precision at a fraction of the cost of traditional GPS services. GEODNET's partnership with the US Department of Agriculture highlights its potential applications in sectors where precision is crucial, such as agriculture. Overall, DePin projects are not only showcasing the transformative power of blockchain technology but are also poised to lead the next wave of growth in the cryptocurrency market, making it an exciting sector to watch in the coming years.

Decentralized physical infrastructure (DePIN) projects like Hivemapper and Helium are gaining attention in the crypto world. These projects are revolutionizing real-world problems by incentivizing users with tokens to contribute to infrastructure development. Unlike many 'hometown heroes' in the crypto space, DePIN projects are aiming for mass market adoption, making them stand out in the industry. Hivemapper rewards users for video-mapping local streets, while Helium pays individuals to share their 5G internet bandwidth, potentially making mobile service cost-free for some. By utilizing blockchain technology to solve real-world challenges, these projects are setting a new standard for innovation in the crypto sphere. This approach has led to positive growth in the DePIN sector, highlighting the potential for blockchain to address global infrastructure needs.

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Hivemapper, a decentralized physical infrastructure network (DePin), claims to expand its map database four to five times faster than Google Maps using blockchain technology. The company's co-founder, Ariel Seidman, attributes this growth to unique contributor engagement strategies, such as incentivizing early adopters with HONEY tokens. Despite mapping 21% of the world's roads in just 31 months, Hivemapper faces challenges with demand, as the project has not seen the same growth in demand as on the supply side. This imbalance is crucial because Hivemapper's token-based incentive model relies on a market for its data that matches its growth. The journey of Hivemapper offers a blueprint for how decentralized technologies can disrupt traditional industries by realigning incentives.

IoTeX has introduced a novel approach in decentralized physical infrastructure networks (DePins) called the Modular DePin Infrastructure, which aims to redefine the creation and functionality of Web3 technologies. This innovation is more efficient and cost-effective compared to traditional infrastructures. The Modular DePin Infrastructure addresses the challenges faced by DePin startups, such as limited funding and technical difficulties, by offering a flexible and community-driven framework. The infrastructure's modular design allows for the assembly of customized applications through various modules, such as hardware abstraction, connectivity, sequencer, data availability, long-term storage, off-chain computing, blockchain, identity, and governance. Developers can select and combine these modules based on their project's specific needs, providing unparalleled adaptability. The modular system's flexibility supports the development of a wide range of DePin applications, including sensor networks, connectivity networks, and computing networks. Significant DePin projects like DIMO, Hivemapper (HONEY), WeatherXM, Helium, Nodle (NODL), Wicrypt (WNT), Render Network (RNDR), and Akash Network (AKT) exemplify the successful application of this modular infrastructure. The connectivity module explores wireless communication techniques to enhance connections within Web3 networks, incorporating technologies like Bluetooth, LoRaWAN, WiFi, and 5G. The sequencer and data availability modules have been adapted from existing solutions to better suit DePin applications, while long-term storage solutions like Filecoin (FIL) and Arweave (AR) meet these applications' storage needs. Blockchain platforms such as Ethereum (ETH), IoTeX, and Solana (SOL) provide essential infrastructure for development.

Solana is emerging as a hub for Decentralized Physical Infrastructure Network (DePin) projects, according to a report from Syndica. The report highlights various DePin projects in the Solana ecosystem, including decentralized GPU marketplaces, wireless technologies, and geospatial data solutions. In the Compute Data AI sector, platforms like io.net, Render, and Nosana are fostering a thriving microeconomy around computational resources. Render's technology was even integrated into Apple's latest iPad Pro, demonstrating the transformative potential of decentralized networks in digital content creation. Helium, another DePin project on Solana, has seen exponential growth in mobile hotspots deployment and subscriber numbers since migrating to the platform. Hivemapper has also recorded unprecedented demand for map data, highlighting the growing reliance on decentralized solutions for geospatial data. Despite some signs of slowing in the storage sector, the overall momentum of DePin projects on Solana remains strong, with the platform now home to category leaders representing a combined market cap of $4 billion.

Franklin Templeton has recognized two DePIN projects, Hivemapper and Helium, as promising within the $26 billion crypto sector. Both projects operate on the Solana blockchain, chosen for its speed and low costs. Hivemapper, a mapping project akin to Google Maps, has already mapped a fifth of the world's roads, primarily in the US and Europe, rewarding contributors with its HONEY token. Despite its success in gaining contributors, the project still faces challenges in demand. Helium, valued at $570 million, offers a wireless mobile service with cheaper subscription packages than traditional carriers, having signed up 93,000 subscribers for its unlimited plan. While these projects show potential for disruption, their success is currently tied to token incentives rather than the intrinsic value of their services.

Franklin Templeton's report, 'DePIN: Traction in Supply & Early Signs of Increasing Demand,' delves into the burgeoning Decentralized Physical Infrastructure Network (DePin) sector, which is shaking up traditional industries with innovative, token-based incentive models. Projects like Hivemapper and Helium are leading the charge, leveraging mass collaboration to map roads and build wireless networks more efficiently and cost-effectively than their centralized counterparts. Hivemapper, for instance, has mapped 21% of global roads with over 60,000 contributors in just 31 months. Helium has partnered with T-Mobile to expand its 5G network to 13,000 hotspots, offering an unlimited phone plan at a significantly lower cost than traditional providers. However, the report also highlights a critical need for increased consumer demand to ensure the long-term sustainability of DePin projects, as the supply of such services has outpaced demand. With the market capitalization of DePin projects at $47 billion and the recent token listings of Aethir and io.net, there is potential for growth, but attracting a broader user base remains key.

Discover the top DePIN crypto mining projects for June 2024, designed to maximize passive income and crypto investments. DePIN, or Decentralized Physical Infrastructure Networks, integrates blockchain with physical systems, set to thrive in the upcoming bull market. Dive into the top 10 projects and their respective discount codes to accelerate your DePIN journey. **GEODNET**: A web3.0 blockchain-based RTK Network that enhances GPS accuracy for AI-based autonomous systems. With an estimated monthly earning of $430 and a break-even ROI in 45 days, GEODNET is accessible with just an elevated outdoor spot. **NATIX**: Mobilize your car to contribute to a decentralized dynamic map of the world, incentivizing users to map their surroundings for smart-city applications. **DIMO**: Aims to create a human-centric connected mobility ecosystem, where developers innovate freely, and privacy coexists with progress. **Soarchain**: A Layer 1 Network fostering a decentralized ecosystem for the mobility industry, offering instant ROI post airdrops. **WeatherXM**: A community-driven weather network rewarding weather station owners and providing accurate services to various entities. **Fry Foundation**: Built on the Algorand ecosystem, FrysCrypto aims to accelerate mainstream crypto adoption while reducing e-waste. **UpRock**: Contribute to AI discoveries by simply using your phone, earning rewards in the process. **Grass**: Monetize your unused internet bandwidth without compromising privacy, contributing to the growth of AI. **Silencio**: A network rewarding users for hyper-local noise pollution data, aiming to become the world's largest citizen science project. **Hivemapper**: Create the world's freshest decentralized map with transparent incentives, using just your phone and car. Explore each project's mission, requirements, and potential earnings to find the best fit for your DePIN crypto mining endeavors. Remember, this list is a guide to help you maximize your investments and passive income ambitions. For further insights, refer to the DePIN sector map from Messari. Please note that this is not financial advice; always conduct your own research.