The exciting DePIN track has gradually become one of the focuses of the encryption market. As the IoTeX team explained, this is not just a term used to describe the integration of resources in an emerging field, but its influence will spread as quickly as lightning. , and even affects every aspect of our lives. For this, as a loyal supporter of the encryption industry, I really feel extremely excited and happy.
As we all know, we have witnessed the forward thinking and bold practices of many outstanding companies such as IoTeX and Multicoin. As time goes by, innovative terms such as “MachineFi”, “Proof of Physical Work”, “Token Incentivized Physical Network” and so on have appeared in front of us.
So, have you ever been as curious as me, what do these terms mean? How do they lead us into a future world that is increasingly full of vitality and hope? Let me help you solve these doubts, and let us start the magical journey of DePIN together.
First, let’s explore what is real DePIN? Yes, it is actually the abbreviation of "Decentralized Physical Infrastructure Networks".
Simply put, this technology will bring about earth-shaking changes in our future life, allowing us to better manage and protect our physical assets, whether it is our cars, smart home devices or the metropolis we live in. infrastructure, they will all have the ability to create economic value on their own.
Behind this seemingly abstract concept, there is actually huge potential. It not only means the deep integration of machines and finance, but also heralds the arrival of a new era - the perfect integration of machines and finance, and an ideal society where the physical and digital are seamlessly linked.
In order to make such a great vision a reality, we need the support of multiple key technologies. For example, we need the protection of solid physical infrastructure; we need the support of efficient off-chain computing infrastructure so that these devices can create economic value; and we also need the driving force of sound protocols and token incentive systems. Only with the cooperation of all these factors can DePIN turn from theory into reality and truly expand a new world that belongs to us.
In the process, we will deeply explore the four core pillars of DePIN: physical infrastructure, off-chain computing infrastructure, blockchain structure, and token incentives.
These four key elements interact with each other, like the notes of a harmonious movement, to create a unique charm curve in the DePIN field.
How do they push DePIN from a dreamy concept to a reality? What profound impact can it have on our society, economy and even our daily lives?
Looking back on the past, from IoTeX's MachineFi to Multicoin's Proof of Physical Work, many creative words have sprung up, jointly promoting the formation of the DePIN theoretical system we are familiar with today. However, DePIN is by no means just an empty technical term, but is committed to leading us into a new era, a technological temple where machines and finance are organically combined, and physics and digital are perfectly connected.
Not long ago, IoTeX successfully led the arrival of this emerging field and gave this concept that organically combined “Machine” and “DeFi” a new name: “MachineFi”. In April of the same year, Multicoin also proposed the concept of "Proof of Physical Work" as a benchmark. This concept advocates a unique incentive model so that anyone can share existing goals.
In the following months, Lattice further deepened the connotation of "Token Incentivized Physical Networks" to describe those decentralized networks that use token incentives to encourage individuals to actively participate in network operations and deployment. Also in September last year, Borderless Capital proposed the strategic "EdgeFi" concept, covering a decentralized infrastructure network that focuses on the deployment of marginalized hardware resources closer to end users.
In November of this year, Messari launched a Twitter referendum campaign on this topic, with the goal of getting everyone involved to discuss and determine unified qualifiers to be used in this field.
In this event, candidate words include PoPW, TIPIN, EdgeFi and "DePIN" previously proposed by top network elites.
After intense discussion and voting, “DePIN” finally came out with a score of 81.18% of the vote won the contest, becoming the unifying qualifier in the field.
