DePIN, short for Decentralized Physical Infrastructure Networks, represents a new direction in the use of blockchain to support real infrastructure.
What is DePIN?
DePIN is a concept based on using blockchain to create real infrastructure solutions such as wireless networks, artificial intelligence, and maps. This allows individuals to utilize idle hardware within networks, enabling them to receive compensation for sharing resources.
The DePIN Ecosystem on Solana
According to recent data, the DePIN ecosystem on Solana shows steady growth. The total on-chain revenue has reached $5.9 million, with over 238,000 registered nodes supporting these networks, and weekly revenue exceeding $100,000.
Examples of Successful DePIN Projects
Among the DePIN projects, Helium leads in decentralizing mobile connectivity, and Hivemapper is creating a crowd-sourced map of the world. Helium has onboarded over 800,000 users and 93,000 active nodes, while Hivemapper boasts over 77,000 nodes contributing map data.
Currently, DePIN on Solana illustrates how cryptocurrency can become functional and beneficial in the real world. This is a clear indication of progress towards integrating blockchain technology into everyday life.
