FEB 5, 2024
DE PIN: A DEEP DIVE INTO THE NARRATIVE
by Hh7A..KUG8, Jennifer Greg
The importance of narratives as they fuel the sustainability of trends in the crypto space cannot be overemphasized. Many of us have seen the rise of narratives like DeFi, RWA, GameFi, and GambleFi and are wondering what next?
This article will provide introductory insights about “Depin; Decentralized Physical Infrastructure” and other relevant areas.
Over time, monopolization of various sectors of human interaction is prevalent, but so is the mass adoption of blockchain into vast sections involved with human interaction. In this case, it has a name, one that is catchy and makes you wonder, “What now?” and that is thanks to Messari.
The discovery of DePin is not new, although now seems to be a new trend. Imagine a future where you do not have to worry about the centralization of critical infrastructural assets. Well I guess you don’t have to Imagine for too long, as the likes of Silencio, DIMO_Network, and WeatherXM has made this concept a reality.
The mechanism behind DePIN is basically incentivizing a web of individuals (that consequently forms a growing community) for owning infrastructure ranging from mobile phones, camera’s or whatever you can think (as long as physical infrastructure is concerned) of using blockchain technology.
Some explanatory examples with Projects listed above:
- Silencio: This project focuses on the dangers caused by noise pollution and goes ahead to encourage individuals to use their devices for “providing hyper-local noise pollution data”. You can go ahead to download the app via Apple Store or google play and start mining $noise coin as reward for data provided.
- Dimo Network: A drive to earn platform where car owners provide real time data of happenings in the real world to earn $DIMO token. This platform allows car owners to keep track of their vehicles data.
- WeatherXM: is a community-driven weather network that offers precise weather services to people, companies, and research institutions while also rewarding weather station owners and individuals.
For DePin, one if it’s strongest survival factor would be that it is community driven, in the sense that community members get priority of being incentivized to provide real time solutions with their physical facilities thus actively participating in a network.
Other industries with application of DePin includes:
- Data storage Networks
- Transportation sector
- Telecommunications and connectivity
Some advantages of DePin application:
- Make vital services and resources more accessible to all
- Collective ownership
- Community ownership and control
- Secure peer to peer interaction.
DePIN narrative is what would be one of the ways that blockchain technology gains massive adoption in traditional settings as it directly improves positively the society’s economic interest in a positive manner fosters a sense of problem-solving responsibility equally shared amongst community members.
What’s your thoughts on this narrative, and would agree that this would arguably be bigger than RWA in terms of market capitalization?
Hello, I’m Jen and I write informative contents that engages your audience and gives you target visibility.