The DePIN track has become an important part of the blockchain industry and a key direction for the future development of blockchain.
As of today, DePIN’s market value has reached 23 billion U.S. dollars, with a transaction volume of over 50 billion U.S. dollars and a total number of 18 million devices.
Messari predicts that the potential market size of the DePIN field is estimated to be approximately US$2.2 trillion and is expected to reach US$3.5 trillion by 2028.
So what exactly is DePIN?
Decentralized Physical Infrastructure Networks (DePIN) are defined in the 2023 Messari report as “real-world physical infrastructure and hardware networks deployed using cryptoeconomic protocols.”
How can we explain this concept in a simple and easy-to-understand way: utilizing idle network bandwidth resources or infrastructure to achieve efficient use of resources, which conforms to the concept of decentralization.
In terms of specific applications, taking the IO of the Solana chain, which we are most familiar with, as an example, it utilizes the idle GPU resources around the world to integrate into OpSec's cloud infrastructure, and then incentivizes token contributors through open cards, which is equivalent to device mining.
This forms a positive incentive feedback: contribute your idle facilities/network bandwidth/computing resources → get the incentive tokens
This business model is not difficult to understand. As the protocol provider, the project party, on the one hand, incentivizes users to contribute resources through tokens, and on the other hand, finds B-side users, that is, resource demanders. The former is not difficult. If there is an open incentive, it is relatively easy for the user side. Therefore, the DePIN project must find a market with real market demand, a large enough market capacity, and a high enough demand.
So should we create a new demand, or find a benchmark in the existing Web2 products, and provide lower costs through DePIN? The obvious answer is the latter, and become a rising star in the market? Because of the proven business model and the existing mature user market.
Huddle01
To give an example of an application, Huddle01 is a decentralized video conferencing project built on the Arbitrum chain. It can be understood as the blockchain version of Google Meeting or Zoom, and has currently received US$9 million in financing.
Let's talk about the market size first. Google Meetings and Zoom's streaming reach 300 million minutes per day. If Huddle01 only occupies 1-5% of this market in the next 12 months, it will be the protocol with the highest adoption rate in the entire Web3 field. The capacity of the entire market is large enough. Just imagine that we almost always use conference software in our lives or work, and the high-frequency user usage scenarios.
What needs are being solved? Compared with mature business giants such as Google Meeting or Zoom, Huddle01 must solve their pain points in order to achieve its goal of gaining market share.
❶Huddle01's dRTC solution. They handle data streams and handle tasks such as encoding/decoding, mixing and routing audio/video packets without relying on centralized data centers. This can reduce the cost of streaming video and audio by 95%, while providing global connectivity with low latency of less than 100ms.
❷ Anti-censorship, enhance security through encryption protocols to prevent data tracking, collection and censorship. This is also the decentralized spirit that blockchain has always advocated, protecting the privacy and security of users
❸ Open Ownership - Node operators can own and operate part of the network, become a provider of network bandwidth, and earn $HUDL rewards.
The value generated through the network will be returned to the people — the node operators, delegators, and users — rather than to the likes of Google, Amazon, and other traditional players.
21% of TGE - 40 million $HUDL is used to reward active nodes during the testnet, which is the positive incentive of the DePIN track I mentioned earlier.
To date, Huddle01 has clocked 6 million minutes through its app and SDK, and hopes to attract 1.5 million new users through upcoming integrations.
How to participate in the testnet node?
Participation method: There may be a whitelist of 20,000 nodes available soon. You need to apply to become a node operator in Discord: https://discord.com/invite/huddle01
Attached is the principle of dRTC's operating technology solution. Friends who are interested in technology can study it:
