Latest DePIN News

Network3, an AI Layer2 platform for global artificial intelligence developers, recently unveiled its latest innovation at the R3al World Summit in Singapore. The new Local Large Language Model (LLM) feature is designed to enhance the efficiency and performance of Edge AI technology. Edge AI involves deploying AI models directly on local devices like smartphones, bringing data processing closer to the source to improve application performance and reduce latency. The global Edge AI market is projected to exceed $269 billion in the next eight years, highlighting the growing significance of this technology. Transforming Smart Devices into AI Training Assets With a focus on making Web3 & AI technologies accessible, Network3 integrates DePIN with AI to enable IoT devices to train small AI models. By leveraging idle resources on smart devices, individuals can participate in AI training and earn rewards. The introduction of the local LLM feature aims to optimize smart devices' processing capabilities during idle times, reducing reliance on cloud computing, cutting down bandwidth usage, and enhancing data security and privacy. Network3, with over 320,000 active nodes globally, recently launched the N3 Edge V1 mining device, offering dual mining capabilities for IoTeX and Network3 tokens. Offering AI Chat Services on Mobile Devices Network3's latest update allows users to access AI chat services on their mobile devices without the need for expensive cloud infrastructure. A test version of the update will be available for download on the official website soon, providing users with the opportunity to interact with the model, earn tokens, and personalize their AI experience.

Bitget Wallet, a prominent Web3 non-custodial wallet, has announced its integration with Grass, an AI-driven data layer protocol. This integration allows users to earn rewards by sharing their unused internet bandwidth. With over 2 million users globally, Grass enables individuals to contribute to AI model training by sharing their internet bandwidth. The collected data is structured and sold to AI labs, providing users with rewards while advancing AI technology. Grass ensures user security by meeting industry standards and is now featured in the DApp section of Bitget Wallet, aligning with the platform's goal of offering seamless access to Web3 technologies. Alvin Kan, COO of Bitget Wallet, emphasized the significance of this integration, stating, 'Grass is a prime example of how users can earn rewards effortlessly while contributing to AI and decentralized infrastructure development. This partnership underscores our dedication to making Web3 accessible and beneficial for all users.' About Bitget Wallet Bitget Wallet is a leading non-custodial Web3 wallet and decentralized ecosystem platform. Offering a range of features such as multi-chain asset management, a native Launchpad, and support for over 100 blockchains and 250,000+ tokens, Bitget Wallet aims to facilitate asset discovery and Web3 exploration. For more information, visit the Bitget Wallet [website](Website).

**Decentralized Physical Infrastructure Networks (DePINs)** DePINs have emerged as a critical part of the blockchain industry, disrupting traditional infrastructure models in data storage, computing power, and connectivity. The market cap for DePIN projects is estimated at $20 billion, attracting investments from top venture capital firms like Andreessen Horowitz and Binance Labs. Projects such as IoTeX and Akash Network are successfully onboarding contributors to their decentralized networks, with IoTeX having over 100,000 connected devices and Akash Network boasting more than 50,000 contributors for decentralized cloud computing. The potential for DePIN to transform markets like the Internet of Things (IoT) is significant, especially with the IoT market projected to reach $500 billion. DePIN, short for 'decentralized physical infrastructure networks,' utilizes blockchain to maintain networks of physical hardware, offering solutions in various applications like sensors, wireless infrastructure, and energy grids. By incentivizing peer-to-peer hardware infrastructure through cryptocurrency tokenomics, DePIN projects are gaining traction in sectors like road mapping, telecommunications, and data storage.

Firoza Finance has launched a groundbreaking $2 million pilot program featuring the world's first real-world Mudarabah smart contract, aimed at providing Shariah-compliant financing options within the decentralized finance (DeFi) sector. This initiative, a collaboration between Liberty Finance and HAQQ Network, will introduce three distinct investment pools with a Total Value Locked (TVL) exceeding $2 million. The Mudarabah contract, traditionally used by Islamic banks, allows capital to be provided by one party while the business is managed by another, addressing a significant gap for users seeking ethical financial products in the DeFi market. In another development, Eigen Labs, in partnership with LayerZero Labs, has introduced a framework for CryptoEconomic Decentralized Verifier Networks (DVNs). This framework allows developers to bootstrap their own DVNs using various tokens and operators, enhancing the security and efficiency of decentralized applications. The first DVN to utilize this framework is the LayerZero Labs DVN, which accepts EIGEN, ZRO, and ETH as staking assets. This open-source initiative aims to facilitate the creation of decentralized verification systems, promoting broader adoption of decentralized technologies. Additionally, Ava Protocol has partnered with Sony's new L2 blockchain, Soneium, to provide automation services for creators and developers. This collaboration aims to simplify blockchain interactions for users who typically do not engage directly with blockchain technology, thereby lowering barriers to entry in the Web3 space. The integration will be part of Soneium Spark, the blockchain's incubation program, offering participants easy access to on-chain automation opportunities. These developments highlight the ongoing innovation in the blockchain space, as companies strive to create more inclusive and user-friendly financial solutions.

InFlux Technologies (Flux) and Akash Network have partnered to establish a DePIN advocacy group aimed at addressing regulatory clarity and government commitment to the decentralized technology sector. This collaboration seeks to promote education, industry awareness, and engagement with government agencies, lawmakers, and regulators. CEO and Co-founder of InFlux Technologies, Daniel Keller, emphasized the importance of creating regulatory frameworks that balance consumer protection with the transformative potential of decentralized technologies. The partnership between Flux and Akash Network is crucial for fostering growth and integrity in the Web3 and DePIN ecosystem. Akash Network, known as the 'Airbnb for data centers,' is a key player in decentralized computing services, offering computing resources through a secure marketplace. On the other hand, Flux provides decentralized cloud solutions for Web3, DePIN, and AI, bridging the infrastructural gap and enabling easier access to computing resources for developers and enterprises. By collaborating, Flux and Akash Network aim to influence U.S. regulations, propose industry-specific frameworks, and promote innovation and consumer interests within the blockchain sector.

DePin (Decentralized Physical Infrastructure Networks) tokens have gained significant attention as a rapidly growing sector in the crypto space. With a focus on decentralized services like storage, rendering, and streaming, DePin tokens have been on the rise. As October 2024 approaches, investors may be contemplating the ideal timing for investment. In September, Bitcoin defied its historical performance with notable gains, closing the month with an approximate 9% increase, a stark contrast to its usual 3.6% decline during the same period over the past decade. DePin tokens like Render (RNDR) also saw impressive surges, with a 31.0% increase in the last 30 days. In the DePin sector, other tokens like Filecoin (FIL), Theta Network (THETA), Arweave (AR), and The Graph (GRT) have shown positive growth as well. Filecoin witnessed a 9.6% value increase, reaching a market cap exceeding $2.3 billion, while Theta Network surged by 18.5%, pushing its market cap to around $1.4 billion. Arweave and The Graph also demonstrated strong performances, with a 7.0% and 24.4% increase, respectively. **October’s Bullish History and DePin Token Growth Challenges** As the crypto market gears up for October, historically known as 'Uptober' for its strong performance, expectations are high. Data from CoinGlass suggests an average October upside of nearly 23%, hinting at the potential for Bitcoin to reach new all-time highs. Analysts like Michaël van de Poppe foresee a bullish quarter ahead, with altcoins possibly seeing significant gains and Bitcoin aiming to surpass its previous peak. Despite challenges in verifying services, DePin tokens have shown remarkable growth, with a 450% increase in the past year. Projects like DAWN and Filecoin are implementing innovative verification methods to overcome scaling difficulties and ensure trustless verification, indicating a positive outlook for the DePin sector.

When a Trade & Commodity Finance bank makes a secured loan to a commodities trader, the ultimate origin of the collateral is physical commodities. Even if the collateral transforms into intangibles like receivables, forward book, or contract rights—it all started out with physical stuff. I have recently been thinking about how the Uniform Commercial Code’s (“UCC”) new Article 12 might interface with one of the current preoccupations in the digital asset space: decentralized physical infrastructure networks, or DePINs. It occurred to me that DePINs might catch the eye of commodity banks and their customers. After all, the word “physical” is right in the name. But what are DePINs? You can think of DePINs as being akin to crowdsourcing. They are a way to incentivize a blockchain community to share existing physical assets or contribute to the development of new ones. DePINs have been used to share resources like surplus server space, computing power on GPUs, decentralized wireless networks, and decentralized energy grids for renewable energy producers. DePINs come in two types. They might be physical resource networks, dealing with real-world assets (“RWAs”) that are tangible—like raw materials, equipment, or transportation. Or, they might be digital resource networks, which deal with intangible resources—things like data, information, and software. Adding AI to a DePIN can make each even more powerful and useful. Observers anticipate that the practical applications of DePINs will continue to expand.

In the realm of Decentralized Physical Infrastructure Networks (DePINs), the concept of verifiability plays a crucial role in establishing trust in the data and services derived from user-owned hardware. Without verifiability, there are substantial technical and business risks, including the potential for data manipulation and compromised services. Verifiable DePINs open up new possibilities and applications, such as cross-industry composability and interoperability. In today's environment where trust is a scarce commodity, the motto 'Don't trust, verify' holds immense significance, as evidenced by incidents like the FTX collapse and Crowdstrike outage. Decentralization offers a solution to trust issues by enabling users to independently verify data integrity and transactions, reducing reliance on centralized authorities. This principle has been pivotal in the adoption of blockchain technology, particularly in sectors like DeFi. However, with the emergence of DePINs, ensuring verifiability in real-world data becomes a paramount challenge. Expanding on the concept of internet-of-things (IoT), DePINs incorporate individual monetization and bridges for real-world data. Unlike digital decentralized applications (Dapps) that function solely on-chain, DePINs interact with physical entities. These networks, comprising user-owned hardware, generate valuable real-world data and services, which users can monetize. Yet, the integration of physical devices introduces the critical question of trustworthiness in on-chain data generation and actions. This underscores the necessity of verifiable DePINs to uphold the decentralized infrastructure's integrity and trustworthiness.

IoTeX, founded in 2017, anticipated the rise of Decentralized Physical Infrastructure Networks (DePIN) long before the concept gained popularity in 2023. The project initially positioned itself as a Layer 1 blockchain focused on connecting the Internet of Things (IoT) with blockchain technology. However, IoTeX has recently pivoted towards a modular approach, reflecting a significant strategic shift in response to evolving industry needs. Jing Sun, co-founder of IoTeX, shared insights into this transformation during an interview at TOKEN2049. Sun explained that while traditional Layer 1 blockchains struggle to address the unique challenges of DePIN projects, particularly in data verification, IoTeX aims to provide foundational support for the entire DePIN ecosystem. This includes developing middleware and various tech stacks that enable efficient off-chain data validation and on-chain value capture. A key component of IoTeX's new strategy is W3bStream, a protocol designed to validate device data off-chain and selectively record critical information on-chain, thus reducing operational costs for DePIN projects. This approach, coupled with IoTeX's concept of 'Sovereign Smart Devices', creates a framework where machines can autonomously participate in economic activities, forming what Sun describes as a 'machine society' within the blockchain ecosystem.

Recent analysis suggests that Bitcoin (BTC) could be on the verge of a bullish trend, attributed to decreasing Bitcoin reserves and rising stablecoin reserves. This combination of reduced supply and growing buying power has sparked optimism for a potential price surge. Investors are now eyeing the best altcoins for investment opportunities. Wormhole, in partnership with Securitize, aims to enhance interoperability by integrating the Wormhole cross-chain communication protocol. This move is set to facilitate faster and more cost-effective transactions for tokenized real-world assets (RWAs) across blockchain networks. Carlos Domingo, CEO of Securitize, emphasized the importance of public, permissionless blockchains for tokenized securities to leverage blockchain benefits. Wormhole's current price stands at $0.3066, with positive liquidity and a promising price forecast. Conflux, a key player in decentralized finance (DeFi), has collaborated with the Worldwide Stablecoin Payment Network (WSPN) to bring WUSD stablecoin onto the Conflux blockchain. This partnership aims to improve global payment functionalities and financial markets on the platform. Conflux's native token, CFX, is currently trading at $0.184646, showing a significant price increase and positive performance over the past year.