- DePINs are redefining networks with decentralization, crypto incentives and reliable data exchange.
- It offers diverse applications from decentralized WiFi to healthcare, transforming industries.
In the ever-evolving landscape of Web3, the DePIN, or Decentralized Physical Infrastructure Network, has emerged as a game-changer, providing decentralization, user ownership, and data sovereignty to various industries. As traditional crypto exchanges faced major challenges last year, the spotlight shifted to DePINs, which had the potential to rebuild public trust in blockchain technology.
In this article, we dive into the DePIN concept and explore five top projects that implement this innovative model.
What is DePIN?
Understanding the decentralized physical infrastructure network
DePIN, or Decentralized Physical Infrastructure Network, represents a paradigm shift in the way network services are delivered. It works on the principles of decentralization, eliminating server-based architectures and introducing crypto incentives for operators. ThePINs consist of geographically distributed physical nodes that jointly authenticate and transfer data using consensus algorithms, enabling reliable data exchange without intermediaries.
Unlike traditional server-based models, DePINs use a distributed setup that improves network reliability and security. The nodes in DePINs implement self-executing smart contracts, automating network protocols without the need for a central intermediary. The data sent via DePINs is not processed by a central server, but is instead stored and verified in a distributed and automated manner.
Here are some of the five most popular DePIN projects on the market today.
MetaBlox
MetaBlox is at the forefront of the design revolution, providing free and secure WiFi roaming services worldwide. Users who deploy MetaBlox routers as nodes in the DePIN not only establish strong WiFi connections, but also earn future MBLX tokens as a reward. The more connections a router facilitates, the more tokens the host earns, creating a decentralized WiFi ecosystem.
Hivemapper
Hivemapper transforms dashcams into a dynamic DePIN that maps the world and rewards users with HONEY tokens. By installing compatible cameras and connecting to the Phantom app, drivers earn tokens as their cameras upload visual data to the Solana blockchain. The collective data creates an interactive map, and users can also contribute by evaluating and annotating camera data, increasing the accuracy of the network.
Planet Guard
Planetwatch encourages citizens to monitor and upload local air quality data using Bluetooth or WiFi connected sensors. Hosts of these sensors receive PLANETS tokens as a reward, which can be traded or exchanged for crypto/fiat. With more than 40,000 active sensors, Planetwatch’s DePIN approach is not only useful for individuals. But it also provides valuable air quality data for scientific analysis.
GhostDrive and Filecoin
GhostDrive has leveraged the power of Filecoin DePIN to create an easy-to-use storage platform. Computer owners can rent out disk space for cryptocurrency rewards in FIL tokens. By using the InterPlanetary File System (IPFS), Filecoin provides decentralized storage without being dependent on central servers. Furthermore, GhostDrive offers a cost-effective alternative to traditional storage solutions.
HealthBlocks
In its beta phase, HealthBlocks is a pioneer in the integration of DePINs into the medical world. Users earn HEALTH tokens for making healthy decisions and sharing biometric data, all verified and stored on the IoTex blockchain. With a focus on user goals and diverse health data, HealthBlocks aims to revolutionize healthcare by providing crypto rewards for proactive wellness.
Conclusion
These five DePIN projects demonstrate the versatility and potential of decentralized physical infrastructure networks. From revolutionizing WiFi services to boosting air quality monitoring and healthcare data sharing, these projects offer unique opportunities for both users and providers.
