Latest DePIN News

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.

IoTeX, a leading modular DePIN blockchain platform, is set to host a Demo Day for the first cohort of its DePIN Surf accelerator program on April 30, 2024. Launched in January 2024 with support from FutureMoneyGroup and ForesightX, the DePIN Surf accelerator is dedicated to supporting DePIN founders. DePIN, a technological paradigm, covers any web-3 application with a physical element, including edge-AI and virtual power plants. The first cohort, which was officially launched at the R3al World event at ETHDenver, features seven startups preparing for their Token Generation Event (TGE) and global launch. During the two-month program, founders receive a $50k investment and comprehensive support from the IoTeX core team and a group of elite mentors. The program includes workshops on raising series-A funding, DePIN tokenomics, and community management fundamentals, as well as presentations at global web-3 events. DePIN has been gaining traction in web-3 circles as a key to connecting the crypto industry with the global population of non-crypto natives who rely on reliable physical infrastructure. The number of DePIN projects has grown exponentially from less than a hundred in late 2022 to over a thousand at the time of writing. However, DePIN projects face challenges such as designing and executing hardware manufacturing and distribution, which can take several years, in addition to building the tech stack that includes firmware, middleware, and software. DePIN Surf provides these projects with the support they need. The projects presenting at the Demo Day include: - Inferix: A decentralized GPU computing platform for visual computing and AI inference, with a major market share in Southeast Asia, India, and other developing markets. - Wayru: The world's first DePIN to partner with the UN to tackle the global connectivity crisis, using blockchain and the $WAYRU token to incentivize hotspot deployment and management. - PowerPod: A decentralized EV charging network providing reliable and accessible charging solutions for electric vehicles worldwide. - Network3: A dedicated AI layer-2 providing services to AI developers, helping them train and validate models quickly and efficiently. - StarPower: An AI and Web3-powered global energy network connecting devices in energy generation, storage, and consumption scenarios. - ATOR: A privacy protocol creating a safer, private layer for the internet through its DePIN routing network and signature hardware and software SDK. - DePHY: A decentralized off-chain data messaging network designed to empower DePIN projects to deploy faster and cheaper. IoTeX is a modular Web3 infrastructure platform connecting smart devices and real-world data to blockchains, enabling developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, IoTeX has become a leading Decentralized Physical Infrastructure Network (DePIN) technology provider, connecting billions of smart devices, machines, and sensors across the physical and digital world.

IoTeX, a leading modular Decentralized Physical Infrastructure Network (DePIN) blockchain platform, has upgraded its Mainnet to version 1.14.0, achieving a remarkable increase in throughput to 1000 transactions per second (TPS). This enhancement places IoTeX as the sixth fastest blockchain globally and the second fastest among EVM-compatible chains. The upgraded Mainnet v1.14.0 has raised the block gas limit to 50M, significantly enhancing processing capabilities while maintaining blockchain stability. With over 114 million transactions and 29.5 million blocks processed to date, IoTeX provides a robust and scalable environment for developers to build DePIN applications. The IoTeX L1 serves as a trust source for project-related token economies and identity layers, offering speed, low costs, and instant finality with transaction costs as low as a fraction of a penny. The upgrade also improved delegate management through delegate endorsements, activated with the approval and activation of the latest IoTeX Improvement Proposal (IIP), making delegate management more flexible and encouraging diverse projects to participate in the IoTeX network operation. CEO of IoTeX, Raullen Chai, stated, 'This performance upgrade is a significant milestone for IoTeX, offering developers a powerful platform for building next-generation DePIN applications and solidifying IoTeX's position as a leading blockchain for a scalable, secure future.' IoTeX is a modular Web3 infrastructure platform that connects smart devices and real-world data to blockchains, empowering developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, the world's first off-chain compute framework for smart devices and real-world data, IoTeX has become a leading DePIN technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy.

IoTeX, a decentralized Physical Infrastructure Network (DePIN) platform, has successfully secured a $50 million investment from a consortium of leading venture capital firms. This funding round, spearheaded by SNZ Capital, Foresight Ventures, FutureMoneyGroup, and Borderless Capital, aims to accelerate the growth and adoption of IoTeX's ecosystem. The funds will be allocated towards long-term staked IOTX, the native token of the IoTeX network, and investments in DePIN projects building on the platform. IoTeX's platform is designed to connect smart devices and real-world data to blockchains, enabling developers to integrate Web3 technology into everyday life. With its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware, IoTeX facilitates the interaction between billions of smart devices, machines, sensors, and dApps across the physical and digital world. The IoTeX ecosystem has been actively involved in developing and expanding DePIN throughout 2024. In early 2024, FutureMoney Group, in partnership with the IoTeX Foundation, launched a $5 million DePIN accelerator program to support startups innovating in the space. Additionally, IoTeX has formed strategic alliances with organizations such as Ankr to bolster the DePIN ecosystem and enhance the performance and decentralization of decentralized networks. Jing Sun, Co-Founder and Head of Investment at IoTeX, emphasized the potential for startups to innovate and bring verified, real-world data on-chain within the growing DePIN ecosystem. Keith Chen, Founding Partner of SNZ Capital, expressed excitement about investing in IoTeX and the DePIN projects building on its modular platform. Borderless Capital, known for being one of the most active DePIN investors, also participated in the funding round. With a focus on modular infrastructure, privacy, and traffic-routing solutions, IoTeX has positioned itself as a key player in the ongoing evolution of DePIN. The platform's commitment to simplifying the lives of application builders by providing off-the-shelf infrastructure solutions and support for go-to-market strategies, liquidity building, and community development has attracted developers and fostered innovation within the DePIN space.