Latest DePIN News

YOM, a cloud gaming platform, is set to revolutionize the gaming industry by allowing gamers to earn cryptocurrency from their idle computational power. Partnering with peaq, a blockchain ecosystem, YOM plans to launch its Genesis Series as the first NFT Node Mint on the peaq blockchain. This integration aims to provide a more sustainable approach to cloud gaming with lower hosting costs and reduced latency. YOM's platform supports Unreal Engine 5 and offers a creative solution for gamers to earn rewards from their gaming rigs. The node sale for YOM's Genesis Node Licenses as NFTs will be open-sourced, enabling other projects on peaq to conduct similar events.

DePINs, or decentralized physical infrastructure networks, are gaining attention for their potential to revolutionize resource distribution and large-scale infrastructure projects without central authority. With the capacity to add trillions to global GDP, DePINs offer a distributed, transparent system that enhances scalability and efficiency. They operate through incentivizing network participants to contribute resources like storage space or computational power, managed through blockchain technology. DePINs come in two forms: hardware-focused PRNs, providing location-specific services, and software-focused DRNs, offering location-independent digital services. The benefits of DePINs include heightened security, transparency, cost efficiency, and scalability, along with financial rewards for contributors. The operation involves physical equipment connected to blockchain via middleware, which acts as a translator, utilizing oracles for real-world data integration.

Helium Foundation CEO Abhay Kumar discusses the expansion of the Helium network beyond wireless to include decentralized physical infrastructure (DePIN). The foundation aims to create a singular ecosystem with multiple networks, potentially using the same coordination layers. The addition of energy-focused startup Srcful as a DePIN is part of this vision, which also includes modifications to IoT device deployment and incentivization.

InfStones, a prominent blockchain infrastructure provider, has introduced a Node-as-a-Service (NaaS) product, simplifying the process of setting up nodes for Decentralized Physical Infrastructure Networks (DePINs). This innovative solution allows users to engage with DePIN communities effortlessly, shaping the future and earning rewards. InfStones' NaaS product has been instrumental in the adoption of new blockchain platforms, particularly for Aethir, a cloud computing platform that has seen significant node operator growth through this partnership.

Meltem Demirors, a prominent figure in the crypto industry, is advocating for the development of Decentralized Physical Infrastructure Networks (DePINs), predicting they will lead to the creation of numerous multi-billion-dollar companies within the crypto space. Demirors, who serves as the Chief Strategy Officer at CoinShares, emphasizes the importance of sensible regulation that supports innovation while aligning with the core values of the crypto ecosystem. She has been instrumental in guiding CoinShares to become a top investment firm in the crypto market, managing billions of assets and pioneering new financial solutions. Demirors also highlights the need for the US to adopt a legal framework that encourages creativity and aligns with the values of the crypto ecosystem, drawing attention to the challenges faced by US entrepreneurs compared to those in countries like China, which has made significant progress in fintech under government oversight.

Synternet's mainnet launch ushers in a new era of interoperability, integrating the ERC20 $SYNT token with Cosmos to enhance cross-chain data exchange. The platform leverages the Inter-Blockchain Communication (IBC) protocol, Cosmos SDK, and CosmWasm for secure and efficient real-time data sharing. Synternet's vision includes strengthening security, scalability, and interoperability, with applications in DeFi and programmable streams.

Binance will suspend deposits and withdrawals of IoTeX (IOTX) tokens for a network upgrade and hard fork starting on July 21, 2024, at 23:00 (UTC). The upgrade will occur at block height 31,174,201 around July 22, 2024, at 00:05 (UTC). Trading will not be affected, and Binance will manage all technical aspects. Deposits and withdrawals will resume once the network is stable.

IoTeX has upgraded its Layer 1 blockchain into an open Modular Infrastructure for all DePINs, introducing DePIN Infrastructure Modules (DIMs) and Modularity Security Pool (MSP) to make DePIN more accessible for builders. The 2.0 whitepaper provides a tech stack with composable modules and a unified trust layer to accelerate DePIN adoption, aiming to onboard 100 million devices and unlock trillions of dollars in real-world value on chain within the next 3-5 years. Key partners include NEAR, Filecoin, RISC Zero, and Espresso. By aggregating real-time data across DePIN networks, IoTeX aims to develop a superintelligent AI to transform decision-making processes for society.

IoTeX, a modular Web3 infrastructure, has announced the launch of IoTeX 2.0, which aims to connect real-world data and smart devices to blockchains. The launch is supported by various partners including Near, Filecoin, RISC Zero, and Espresso. Decentralized physical infrastructure networks (DePINs) have the potential to transform applications such as wireless services and smart home technologies. The DePIN sector is expected to reach a market value of $3.5 trillion by 2028. IoTeX 2.0 adopts a modular approach to simplify the development process, making it easier to launch new DePIN applications. The launch features partners like ChainML for AI integration, OKX for wallet solutions, and The Graph for indexing. IoTeX 2.0 also introduces the Modularity Security Pool (MSP) to promote growth and sustainability within the ecosystem. The project aims to lower barriers to entry and stimulate innovation, allowing a broader range of participants to engage with the technology.

Telecommunication companies face a daunting $250 billion debt burden for 5G infrastructure, leading to a slow buildout and a shift towards decentralized wireless networks. DeWi networks leverage community-driven collaboration, incentivizing individuals to provide bandwidth and monetize their internet connections. This model has seen early success with networks like Helium, which supports thousands of hotspots and offers affordable mobile plans. Additionally, technological advancements like eSIMs and regulatory changes are reducing barriers to entry, leveling the playing field for smaller companies to compete with telecom giants.