Latest DePIN News

Carlos Lei Santos, CEO of Uplink, forecasts that the next trillion-dollar company will emerge from the DePIN (Decentralized Physical Infrastructure Network) industry, revolutionizing wireless connectivity much like Amazon's AWS transformed cloud computing. DePIN companies are expected to integrate various structures seamlessly, with the industry projected to reach over $3.5 trillion by 2028. The growth of DePIN could significantly influence the cryptocurrency market, as decentralized networks are often built on blockchain technology, potentially increasing investment and innovation in the space.

ARAX has partnered with the Municipality of Tuzla, Romania, to develop a Decentralized Physical Infrastructure Network (DePIN) project. This initiative will use ARAX's blockchain, IoT, and AI technologies to create a smart urban hub with intelligent streetlights and other smart city solutions. The project will be implemented in three phases, starting with planning and feasibility studies, followed by a pilot deployment of renewable energy-powered streetlights connected via Lunaº Mesh's decentralized network. The final phase will focus on expansion and integration of additional smart city solutions. The success of the project relies on strong private-public partnerships and community involvement.

Decentralized Physical Infrastructure Networks (DePIN) are disrupting the internet infrastructure sector by returning control to users and leveraging public blockchains. This model allows individuals to contribute resources like electricity and internet in exchange for micropayments, creating large-scale infrastructure without upfront costs. DePIN facilitates the launch of businesses in sectors with high entry barriers by relying on crowdsourcing and turning fixed costs into variable costs. Examples include Filecoin, which provides cloud services at lower costs than Amazon, and Akash Network, which offers compute power for AI training. DePIN challenges incumbents by offering Infrastructure as a Service (IAAS) models that are more flexible and cost-effective than traditional Software as a Service (SaaS) models.

Hivello, a Decentralized Physical Infrastructure Networks (DePINs) aggregator, has launched its app at the Consensus 2024 event, following a successful six-month waitlist period with 19,600 users. The app aims to simplify Web3 mining, enabling users to earn tokens by contributing their computer resources. Hivello recently raised $2.5 million in funding, reflecting investor confidence in its potential. The DePIN market is expected to grow significantly by 2028, and Hivello is positioned to capitalize on this growth by making decentralized finance more accessible to a wider audience.

Ethereum co-founder Joe Lubin has announced that Consensys is ready to spend millions to challenge the SEC's enforcement campaign against the Ethereum ecosystem. Lubin discussed the SEC's impact on the crypto ecosystem, the costs incurred, and the legal action against the SEC's classification of Ether as a security. He also touched on Ethereum's scalability, the importance of modularization, and future goals for the network, including an 'intents-based architecture'. Additionally, Lubin commented on staking, the Solana ecosystem, Bitcoin's influence, and Vitalik Buterin's ongoing contributions to Ethereum.

In 2024, the Decentralized Physical Infrastructure Networks (DePINs) are emerging as a leading trend in the cryptocurrency market. DePINs are blockchain-based networks that integrate with real-world infrastructure such as data storage, power grids, and telecommunications to enhance security, scalability, and efficiency. The combined market capitalization of DePIN projects has already surpassed $25 billion, indicating a significant potential for growth and adoption. DePINs are set to revolutionize sectors traditionally dominated by central governments by combining blockchain's digital capabilities with physical infrastructure. Hardware decentralization in DePINs involves distributing the physical components of a network among various operators, which strengthens the network and promotes fairness and democracy. Key features of DePINs include blockchain architecture for secure and automated transactions, tokenization to foster network engagement, and interoperability with other blockchain networks and systems. Some of the top DePIN crypto projects to watch in 2024 include Helium (HNT), which is a decentralized wireless network for IoT devices using a unique Proof of Coverage consensus mechanism. Helium incentivizes the development of a wireless network infrastructure through its HNT tokens, which can be earned by hosting hotspots and used for various purposes within the ecosystem.

Blockmate Ventures' investee, Hivello Holdings, has launched a private beta of its passive income generation app at the Consensus 2024 conference. The app, which simplifies Web3 mining for novices, has attracted 19,600 users to its waitlist. Hivello aims to democratize access to decentralized infrastructure and allow users to earn passive income through their computing resources. The company has raised $2.5 million in funding and is valued at $9 million.

Carlos Lei Santos, co-founder and CEO of Uplink, predicts that the next trillion-dollar company will emerge from the decentralized physical infrastructure network (DePIN) industry, driven by the growing demand for wireless hardware connectivity. He compares this potential giant to Amazon Web Services (AWS), suggesting it will act as a decentralized 'orchestrator' connecting different infrastructures. The DePIN industry is rapidly growing, with an estimated market size of over $2.2 trillion and is expected to reach $3.5 trillion by 2028, according to a Messari report.

The Helium Network, a decentralized physical infrastructure network (DePIN), is leading the charge with its blockchain and community-driven approach to wireless infrastructure. The network saw remarkable growth in Q1 2024, largely due to its Helium Mobile plan, which attracted nearly 100,000 subscribers and led to the burning of 160,000 HNT tokens for Data Credits. The Helium Foundation's Q1 2024 Protocol Report highlighted the surge in network activity and the adoption of Helium Mobile, which was further boosted by the listing of the MOBILE token on Coinbase. Additionally, Helium's IoT network continues to be the largest public LoRaWAN network, with over 100 organizations building on it after 15 new OUIs were issued in Q1 2024. The network has been utilized for innovative solutions such as flood resilience systems and environmental monitoring. Governance updates and the introduction of targeted growth mechanisms like HIP 84 have also contributed to the network's expansion. The Helium Foundation is focused on scaling its advocacy and educational efforts, with a membership program introduced in March to increase public awareness and user onboarding. DePIN projects like Helium are gaining traction on platforms like Solana, which offers advantages in speed, cost, and scalability. Other projects in the DePIN sector, such as WiFi Dabba, Pollen Mobile, and Uprock, are also emerging, offering decentralized alternatives to traditional connectivity solutions.

IoTeX, a DePIN modular Web3 infrastructure platform, has partnered with Nodle, a DePIN network that utilizes smartphones as edge nodes to connect the physical world to Web3. This collaboration aims to enhance interoperability, increase user adoption, and provide more infrastructure modularity. The partnership will be rolled out in phases, starting with Nodle integrating its device network map with DePINscan, making it the largest and fastest-growing DePIN project on the IoTeX platform with over 780,000 mobile devices. DePINscan, launched in August, has become a leading source for DePIN intel, hosting over 40 DePIN projects with a combined market cap of $40 billion. IoTeX has also introduced a new liquidity hub on the Mimo DEX, tailored for DePIN projects, which has seen about $800k of liquidity for the tokens of the 9 DePIN Liquidity Hub launch partners. The integration of Nodle and other large DePIN projects is expected to increase these figures, enhancing composability and ease of use between the two ecosystems.