It is no secret that blockchain has blown up in the last few years and become more prominent in all sorts of industries. It is also no secret that we tend to view blockchain as a purely digital concept. After all, we tend to associate blockchain with digital-focused concepts like cryptocurrency, NFTs, and DeFi.
But the latest application of blockchain, DePIN, deals entirely with the physical. Short for Decentralized Physical Infrastructure Networks, DePIN sees blockchain technology and the assets associated with it being used to develop and maintain physical structures like mobile networks and power grids.
Decentralization offers greater efficiency and security for these infrastructures and naturally, it has caught on. DePIN is on track to reach $3.5 trillion in value by 2028 and 2024 will see many projects emerge in the space. For investors and consumers interested in the emergence of DePIN, the following companies are some of the ones to watch.
U2DPN: A Pioneering Force in the DePIN Landscape
With all eyes on the Decentralized Physical Infrastructure Networks (DePIN) narrative, U2DPN emerges as a groundbreaking Decentralized Private Network (DPN) set to redefine online security and anonymity. Distinct from traditional VPNs, U2DPN leverages blockchain technology to distribute data across numerous nodes, eliminating single points of failure and ensuring unmatched privacy. Built on the Subnet Technology powered by U2U Network, U2DPN offers an approach that not only enhances security but also democratizes Internet access, offering users complete control over their data.
A standout feature of U2DPN is its capacity to empower users to monetize their unused network resources, particularly Internet bandwidth. This innovative mechanism allows participants to generate passive income risk-free by allocating their spare bandwidth – an increasingly valuable resource that has always been wasted. With a user-centric model, U2DPN represents a significant leap towards a truly private and secure digital future, making it a top project to watch in 2024, especially for those invested in the evolution and success of DePIN.
DePIN Hub: Onboarding the next 500 million users into web3
After building the world’s most popular management and analytics software for DePIN’s flagship project, Helium, and winning the hearts of hundreds of thousands of DePIN enthusiasts, Hotspotty has launched DePIN Hub.
DePIN Hub is the one tab anyone interested in DePIN has to leave open. The platform combines powerful news aggregation and leaderboards with project discovery and tracking capabilities, on top of a wealth of educational content. This is all in order to achieve one mission – onboarding the next 500 million users into web3. DePIN Hub is now releasing a dedicated DePIN Launchpad to help the community gain early access to the highest potential projects and propel the growth of the space as a whole.
Bringing Quantum Computing Benefits to the Wider World
Dynex (DNX) is leading the charge in DePIN since its September 2022 launch. It’s making cryptocurrency mining more meaningful by teaming up GPU miners providing supercomputing for everyone. Dynex is known for its quantum computing efficiency and limited supply. As the main currency on the Dynex Cloud Platform, it lets users run quantum computing-based tasks smoothly, helping industries like Fin-Tech, Pharmaceuticals, Genomics, Smart Cities, and big companies work better and faster. It plays well with top AI tools, opening up new possibilities. Dynex also boosts scientific research by making quantum computing more accessible, sparking innovation. It’s shaping the future of digital technology, empowering industries to thrive.
MultiCurrency-Block Ventures DAO: Bridging the Gap Between TradFi and DeFi With RWAs
A Renewable Energy Project by MCB Ventures DAO is recently received funding agreement from Stated owned enterprises China Energy of $7 billions to build a distributed solar infrastructure network of 5.4 GW to power across 26 provinces of Democratic Republic of Congo. Within this project, MCB will implement DePIN model of which their sensor hardware is a crypto anchor that creates high-fidelity green energy data from every solar panel (at proof-of-fusion) and secures this data directly into the blockchain. This provides an immediate, immutable truth for the reporting of carbon credits and green energy certificates, including RECS, EnergyTag (EAC’s) and green bonds. For utility-scale solar asset owners, operators, financiers and insurers this means operational transparency, additional revenue and security available for the first time. This creates a new asset class for a global solar network powered by the DePIN model.
Blockchain-based products and concepts have seen waves of popularity over the years. Crypto, NFTs, DEFi, GameFi, and so on have had their moment and it seems that DePIN is next in line. DePIN is especially promising because the development and maintenance it offers can apply to virtually every industry in the world. This even includes existing blockchain-based sectors like DeFi that can stand to benefit from it. 2024 will see many top companies emerging as leaders in the field and setting the scene for what is to come.
From those that act as a bridge for more people to make the leap into DeFi to the companies that are ensuring that DePIN remains sustainable, this new sector is already showing much promise. We can expect that more companies will come on the scene and begin pushing the boundaries of how blockchain can help physical infrastructures.
Each year, we see more and more of what blockchain can do and despite initial scepticism, the industry is clearly here to stay and DePIN will be part of its longevity.
