Written by: Andrew, IoTeX Researcher
Compiled by: Sean, Techub News
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With the popularity of the Bitcoin ecological track, everyone's focus seems to be focused on the BRC-20 track, but at the same time, another area with huge potential is also quietly emerging, and that is the DePIN track. DePIN, short for Decentralized Physical Infrastructure Network, is a new way to build and maintain infrastructure in the physical world.
This "infrastructure" can be anything from WiFi hotspots in wireless networks to solar home batteries in energy networks. DePIN is built in a decentralized manner by individuals and companies around the world for anyone to use, and at the same time, the project can incentivize contributors in the form of tokens to continuously participate in network construction.
In what areas will DePIN, a track that combines the physical and virtual worlds, show significant development trends in 2024? IoTeX researcher Andrew gave the following prediction:
- The DeFi narrative in DePIN is gaining momentum, with DEX, lending, stablecoins, derivatives (options), and ve models taking center stage.
- Existing players are expected to shift heavily to narratives related to DePIN: infrastructure, aggregators, and deployers.
- We will witness the emergence of customized, decentralized, and centralized Launchpads themed activities for DePIN. Focus on Bounce Brand and OKX.
- Most Ethereum L1/L2 adoption of DePIN will lag behind Solana and IoTeX.
- The integration of Bitcoin and DePIN will reshape the face of PoPW.
- Focus on DePIN investment and incubation: Some funds will leave a deep mark in this field, including a16z crypto, Multicoin Capital, The Spartan Group and HashKey Capital.
- Please be fully prepared for the upcoming DePIN token issuance events (Token Generation Events, TGE) and witness the birth of a vibrant and new ecological track.
- The market value of DePIN exceeds 4.269 billion yuan. On the CoinMarketCap platform, ranked by market value, the top 100 cryptocurrencies will include 10 DePIN blue-chip cryptocurrencies.
- Get ready for the 2024 DePIN Summer, a familiar season that reminds you of the 2020 DeFi Summer, which is coming soon.
- DePIN meme: Related innovative inscriptions based on PoPW technology will develop rapidly, which introduces a more fair, transparent and credible casting method. Focus on PoWERC20 and Atomics Protocol.
- The increasing influence of Eastern countries has promoted the application of DePIN technology in multiple fields, covering both hardware development and user participation.
In 2024, cryptocurrency data platform CoinMarketCap has listed DePIN as an independent classification, a move that seems to reflect the crypto market’s focus on this area. DePIN is a relatively new entry into the cryptocurrency space that aims to build better networks across diverse and vast industries such as telecommunications, energy, mobile and storage. If you look at it from the perspective of combining virtuality with reality, it seems to have huge growth potential. At present, with the development and deployment of many DePIN projects, it is expected that significant changes and innovations will be ushered in in the construction and maintenance of physical infrastructure networks.
