Sector Spotlight: Exploring DePIN – Part 2
.jpg)
Decentralized Physical Infrastructure Networks (DePINs) are at the forefront of Web3 innovation, transforming how physical infrastructure integrates with blockchain technology. This second part of our exploration dives into DePINs' immense potential, highlighting their current market state, growth opportunities, and the role of web3 accelerators in fostering these groundbreaking projects. What Are DePINs? DePINs leverage blockchain technology to decentralize physical infrastructure such as wireless networks, cloud services, and power grids. Unlike traditional Proof-of-Work (PoW), DePINs operate on models like Proof of Physical Work (PoPW) or Token Incentivized Physical Networks (TIPIN). By incentivizing contributors with tokens, they ensure scalability, efficiency, and inclusivity. Current Market Insights As of 2023, the DePIN ecosystem comprises over 650 projects, with a market capitalization exceeding $22 billion and an annual on-chain revenue of $15 million. The sector spans s...