What is DePIN?
DePIN (Decentralized Physical Infrastructure Network) is the next step in the evolution of crypto-based networks and is a decentralized protocol1.
The DePIN network deploys real-world physical infrastructure and hardware networks using crypto-economic protocols, also known as Proof of Physical Work (PoPW), Token Incentivized Physical Infrastructure Network (TIPIN), and EdgeFi Network. This bottom-up approach is fairer and more efficient than the traditional top-down deployment model of centralized entities.
Four DePIN tracks that Messari analysts pay special attention to
1. Decentralized Storage: The current cloud storage market has a market size of 80 billion US dollars and continues to grow at an annual rate of 25%. Although the cost of decentralized storage services is 70% lower than that of cloud service providers such as Amazon S3, the current market share of decentralized storage is still less than 1%, and there is still a huge market opportunity for decentralized storage.
2. Decentralized Databases: Decentralized databases have been plagued by performance and latency issues, which are expected to be resolved by 2024. The emergence of applications such as DeSoc, games, dynamic NFTs, ML, and AI will greatly increase the demand for decentralized databases.
3. Decentralized Wireless Network: DePIN projects represented by Helium Mobile have gradually found their own PMF, which has led to a continuous increase in user adoption. Taking Helium Mobile as an example, in the early days, it attracted users by providing low-cost services and tokens. The growth of users will further drive the growth of token prices, thereby attracting more users and paying, turning the growth flywheel.
4. Decentralized AI Machine: The development of artificial intelligence is currently facing computing bottlenecks and lack of collaboration. The DePIN project, which focuses on the AI field, can solve these two problems well. Gensyn can provide sufficient decentralized computing power support for the training of AI models, and Bittensor can enable individuals to participate in open source AI model training. DePIN and AI have a natural combination scenario.
Author: TechubNews
Link: https://techub.news/newDetails/?id=6bf8f1458b8c41d0bc97d920c91353d6
Source: TechubNews
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