Latest DePIN News

Crust Network has made significant strides in its technical progress, recently upgrading its runtime to specification version 25. This upgrade includes parameterization of all control variables for order costs, which can be modified via Parliament, and an adjustment to the File Base Fee strategy. Additionally, the SManager 2.0.3 version optimizes the order timeout logic and introduces a retry mechanism to enhance order success rates. The team is also researching IPFS configuration optimizations and investigating the feasibility of porting the latest IPFS Kubo code to Crust, further integrating its services within the Algorand ecosystem through the wen.tools project. In terms of ecosystem collaboration, Crust has launched its ERC-7588: Blob Transactions Metadata JSON Schema on Ethereum, which enhances data visibility and auditability for blob transactions. This upgrade supports new decentralized applications and improves data management. Crust also sponsored the Polkadot Hackathon 2024 in Singapore, where the CDepin team won the Crust Bounty, showcasing the innovation within the Polkadot ecosystem. To ensure domain name availability, Crust is implementing a multi-domain backup solution, providing several accessible domains to mitigate potential risks. Community engagement remains a priority for Crust, as evidenced by its participation in various events such as the “POL Launch Countdown” in Shanghai and hosting Twitter spaces with partners like SightAI and Tanssi. These initiatives aim to explore the potential of decentralized storage solutions and appchain deployment. Crust also attended Token 2049 and supported the Blockchain Development Program, demonstrating its commitment to fostering community knowledge and collaboration within the blockchain space.

Binance has recently published its 23rd Proof of Reserves snapshot for October 2024, revealing notable shifts in its major cryptocurrency holdings. The report indicates a decline in Bitcoin (BTC), Ethereum (ETH), and USDT, while the exchange's native token, BNB, has seen an increase. This shift suggests a potential change in Binance's asset management strategy, prompting questions about the effectiveness of this new approach in the current market landscape. The snapshot highlights that between September and October 2024, Binance’s BTC holdings decreased by 1.58%, translating to a loss of 9,577 BTC, leaving the exchange with a total of 596,000 BTC. Ethereum reserves also experienced a decline of 1.37%, equating to over 61,000 ETH. The most significant drop was observed in USDT holdings, which fell by 3.16%, amounting to a decrease of $698 million. These reductions indicate a possible rebalancing of assets or user withdrawals, reflecting the broader volatility that has characterized the cryptocurrency market recently. Conversely, Binance's BNB holdings surged by 2.17%, adding 882,454 tokens to its reserves. This increase signifies a strategic pivot towards enhancing the prominence of BNB within the Binance ecosystem, which plays a crucial role in transaction fees and governance. The fluctuations in these assets underscore Binance's adaptability to market dynamics, with the increase in BNB suggesting a prioritization of its native token amidst the challenges faced by other cryptocurrencies. The October 2024 snapshot thus provides valuable insights into Binance's evolving strategy and priorities during these turbulent times in the crypto market.

Srcful, built on the Solana blockchain, and Arkreen, operating on an EVM-compatible chain, are at the forefront of decentralized physical infrastructure networks (DePIN) focused on energy. Their recent integration of APIs allows for real-time solar power generation data to be accessed from connected solar devices. This collaboration signifies a major leap in both the renewable energy and blockchain sectors, facilitating the on-chain monetization of solar energy data. By leveraging this partnership, solar equipment linked to Srcful can now utilize the Arkreen Network to issue tokenized Renewable Energy Certificates (RECs) on-chain, transforming solar power generation data into valuable on-chain assets. The partnership also opens up new avenues for miners on the Srcful platform, who can now earn mining rewards across both ecosystems. This dual engagement not only enhances the financial incentives for participants but also fosters a deeper involvement in the decentralized energy ecosystem. By allowing users to earn rewards from both Srcful and Arkreen, the collaboration aims to stimulate growth and engagement, creating a more vibrant community around decentralized energy solutions. Together, Srcful and Arkreen are dedicated to developing the distributed energy network of the future. Their focus on demand-side applications that convert energy data into environmental asset RECs aligns with the broader objectives of sustainable energy monetization. Furthermore, Srcful’s strategic partnerships, including one with Helium, are designed to leverage Helium’s extensive network of IoT miners, driving further growth. This collaboration marks a significant evolution in the energy data landscape, paving the way for decentralized energy networks to integrate with blockchain technology and enhance the financial viability of sustainable energy initiatives.

September has proven to be an exceptionally dynamic month for the Titan Network, highlighted by a series of new collaborations and impactful events. One of the most significant occurrences was the participation in TOKEN2049 Singapore, where the Chief Strategy Officer, Konstantin Tkachuk, delivered an insightful speech on decentralized infrastructure networks (DePIN). This premier crypto event allowed Titan Network to connect with industry leaders, share their vision, and explore new collaborative opportunities, further solidifying their presence in the blockchain ecosystem. In addition to their participation in TOKEN2049, Titan Network announced its expansion into Colombia and Nigeria, aiming to connect with vibrant communities and bring the power of DePIN to a broader audience. The organization also took part in the Economic Society of Singapore (ESS) 2024 Annual Dinner, where discussions centered around the transformative potential of DePIN in the new energy vehicle industry within the Web 3.0 era. This event underscored Titan Network's commitment to innovation and sustainable transportation, showcasing their role in advancing decentralized technologies. Furthermore, Titan Network co-organized the EMC Hackathon, Chain the Future, and hosted their seventh Community Space event, allowing community members to engage directly with leadership. They also launched an Autumn Initiatives campaign featuring a $1,000 USDT prize pool, encouraging participation in social quests and node operations. With new updates for PC users, including real-time device monitoring and improved data connections, Titan Network continues to enhance user experience while fostering innovation and collaboration within the DePIN ecosystem.

Black Forest Labs has recently launched Flux 1.1 [Pro], an advanced AI image generation model that follows the original Flux family, which includes Flux 1 Pro, Flux 1 Dev, and Flux Schnell. The new model showcases significant improvements in text generation capabilities, prompt adherence, and overall image quality. Notably, Flux 1.1 Pro has achieved the highest Elo score in the Artificial Analysis image arena, outperforming all other text-to-image models while maintaining impressive generation speeds. This model is priced competitively at $0.04 per image, making it a strong alternative to other paid services like MidJourney and Ideogram, which are notably slower and more expensive. Despite its advantages, Flux 1.1 Pro is a closed-source model, limiting users to access it through platforms like Together AI, Replicate, and Freepik. This means users cannot run it locally or customize it as they can with its open-source counterparts. However, some platforms offer free credits for initial generations, with Freepik being highlighted for its Mystic workflow that enhances image quality. While there are no announcements for an open-source version of Flux 1.1, Black Forest Labs appears to be concentrating on refining its offerings for image and video creators. In hands-on testing, Flux 1.1 Pro demonstrated satisfactory results, producing realistic images with improved prompt adherence compared to its predecessor. The model excels in generating detailed and aesthetically pleasing images, making it suitable for various artistic tasks. While it may not represent a generational leap, the enhancements in realism, spatial awareness, and overall consistency make it a compelling choice for users seeking quality AI-generated images. Overall, Flux 1.1 Pro stands out as a cost-effective and efficient option in the competitive landscape of AI image generation.

VeChain, a leading blockchain platform, has made significant strides in supply chain management by securing key patents in blockchain-based user authentication and inventory management. These innovations enhance security and efficiency across various industries, including retail, luxury goods, and automotive. The VeChainThor blockchain plays a crucial role in real-world applications, particularly within Decentralized Physical Infrastructure Networks (DePIN). The integration of Internet of Things (IoT) technology allows for real-time tracking and anti-counterfeiting measures, ensuring transparency and authenticity in product tracking. The platform's capabilities are exemplified through partnerships with major corporations. For instance, VeChain collaborates with Walmart China to track food products from farm to table, ensuring food safety through real-time data analytics. Additionally, luxury brands like LVMH utilize VeChain's blockchain to verify the authenticity of high-end products, addressing the persistent issue of counterfeiting. In the automotive sector, VeChain works with BMW to streamline complex supply chains, enhancing vehicle production and distribution efficiency. Furthermore, VeChain's applications extend to healthcare, securing the integrity of medical supplies and pharmaceuticals, and even carbon credit tracking to promote sustainability initiatives. Recently, VeChain received approval for a U.S. patent for a blockchain-based user authentication system, which aims to enhance security and authentication processes. This patent introduces a method for managing user identity data across multiple devices securely. Additionally, VeChain attained another patent for a mobile automated inventory container system, further optimizing inventory tracking and supply chain processes. These advancements position VeChain as a pivotal player in the blockchain space, driving innovation and efficiency in supply chain management across various sectors.

Bittensor (TAO) has recently made headlines as its Open Interest reached an all-time high of $189 million, reflecting a significant increase from $50 million on September 5. This surge indicates that more traders are actively engaging with TAO, opening and maintaining positions, which is a positive sign for the token's future. Over the past month, TAO has outperformed Bitcoin (BTC) and the broader cryptocurrency market, gaining over 130%. The overall market capitalization for AI and Big Data cryptocurrencies has also risen from $26 billion to $35 billion, further boosting TAO's position as the second-largest AI crypto with a market cap of $4 billion. The recent performance of TAO has been bolstered by favorable market sentiment, as evidenced by the long/short ratio standing at 1, indicating a balanced outlook among traders. Additionally, more than $800,000 in short positions were liquidated within 24 hours, suggesting that the market is currently not favoring short traders. Technical analysis shows that TAO is trading at $590 and has formed a bullish V-shaped recovery on the four-hour chart, indicating the potential for continued upward momentum. If TAO can break through its current resistance level, the next target price could be $618. Positive indicators such as the Chaikin Money Flow (CMF) being at 0.21 and the Moving Average Convergence Divergence (MACD) line flipping above the Signal line suggest that bullish momentum is strong. Furthermore, the funding rates for TAO have remained positive since late September, indicating that long traders are willing to pay fees to maintain their positions, which reflects confidence in the token's performance. Overall, the combination of rising Open Interest, strong technical indicators, and positive sentiment paints a promising picture for Bittensor's future in the cryptocurrency market.

In a significant development for decentralized computing, Fizz Node has introduced a comprehensive setup guide for users looking to install its node on Windows machines using Windows Subsystem for Linux (WSL). This guide is designed to simplify the installation process, making it accessible even for those with limited command line experience. Users are required to enable WSL, install a Linux distribution such as Ubuntu, and set up Docker Desktop to create a conducive environment for running Fizz Node. The guide breaks down the steps into manageable tasks, ensuring that users can follow along without feeling overwhelmed. Once the prerequisites are in place, users can register their Fizz Node by navigating to the Spheron network. The registration process involves providing details about the node's operating system, resource specifications, geographical location, and payment preferences. This step is crucial as it allows users to contribute their computing resources to the decentralized network while earning rewards based on their contributions and uptime. The Fizz Node system incentivizes operators by allowing them to keep a significant portion of the payments received for the resources they provide, thus promoting a sustainable and profitable model for decentralized computing. The Fizz Node initiative not only offers a pathway for individuals to monetize their idle computing power but also plays a vital role in the broader vision of decentralized networks. By participating in the Fizz Node ecosystem, users can join the DePIN Super Compute Network, which aims to optimize energy usage and reduce carbon emissions. As the project approaches its token launch, additional benefits and rewards are expected to be introduced, further enhancing the appeal of running a Fizz Node. This initiative represents a pivotal shift in how decentralized computing resources can be accessed and utilized, making it an exciting opportunity for tech enthusiasts and eco-conscious users alike.

MapMetrics is revolutionizing the way users earn rewards through its innovative app, which incentivizes both navigation and community growth. Users can accumulate $MMAPs by completing trips in navigation mode and inviting friends to join the platform. The app tracks total daily earnings, allowing users to see their cumulative rewards after each trip. For instance, if a user completes three trips in a day, they can earn a total of $MMAPs from each journey, making it a straightforward process to maximize earnings through consistent use of the app. In addition to daily trip rewards, MapMetrics offers an enticing Invite a Friend feature. This allows users to earn additional $MMAPs by referring friends to the app. When a friend signs up using a unique referral link and completes the onboarding process, both the user and their friend receive 250 $MMAPs. This not only enhances the user’s earnings but also fosters community growth, as each new user contributes to the overall accuracy of navigation data, improving the experience for everyone involved. Combining daily trip earnings with invite rewards can lead to significant accumulations of $MMAPs. For example, a user who takes three trips and invites three friends could potentially earn 767 $MMAPs in a single day. Beyond the financial incentives, MapMetrics also emphasizes the positive environmental impact of its operations, partnering with Tree-Nation to plant trees for every mile logged. This dual focus on rewards and sustainability makes MapMetrics an appealing choice for users looking to earn while contributing to a greater cause.

Render (RENDER) Underperforms Amid Market Pullback Render (RENDER) underperforms in the face of the market’s current pullback, resulting in the token experiencing a strong pullback in the past couple of days. According to CoinGecko, RENDER fell by nearly 13% since last week, showcasing the bearish sentiment prevailing in the market at the start of October. The market dip led to significant liquidations of both long and short positions holding the token. Despite this, there is hope for a potential recovery as Render prepares for 'Uptober' later this month. On-chain developments are also in progress for the decentralized physical infrastructure (DePIN) protocol. **Render's September Achievements** September was a bullish month for Render in terms of developments. One significant achievement was the support for Redshift, Mavon’s in-house 3D renderer. This support enhances Render’s decentralized compute niche for artists, particularly with the integration of Redshift's C4D file support. Annabele Siconolfi, a 3D artist, reported saving over 70-80 hours in a recent render job using the Redshift integration. Additionally, Render Network’s X account saw a 100% growth, reaching 200k users. This growth in community engagement strengthens Render's connection with its users and potentially boosts trust and belief in the platform's value. **RENDER's Price Outlook** Despite recent challenges, RENDER bulls managed to break through the $5.3 resistance level, turning it into support. While the token aims to consolidate above this level, maintaining momentum is crucial for its upward trajectory. However, the relative strength index (RSI) indicates a possible bearish reversal, suggesting potential downward pressure in the medium term. In case of a bearish scenario, RENDER could retrace to $4.9 in the short term. On the other hand, sustained bullish momentum could stabilize the token around $5.3 before aiming for $6.3 in the long term.