The moment has arrived. You’ve been waiting for an opportunity to deploy your capital and align with the latest technologies in the crypto market. Significantly, there is one area in Web3 you may keep hearing about: DePIN projects. A DePIN is a decentralized peer-to-peer network that addresses hardware needs through an open marketplace, utilizing cryptocurrency rewards to incentivize real-world infrastructure operators to participate.
Messari reported in 2024 that the DePIN sector has expanded to include projects across six key areas, including computing, artificial intelligence, wireless technology, sensors, energy, and services. At the time of writing, the total market capitalization for DePINs stands at $21.1 billion.
DePIN projects stand out in the current market because they are grounded in actual utility rather than speculative trends. Additionally, DePINs cover a wide array of industries and will further explore innovations such as zero-knowledge technology, memecoin integrations, on-chain artificial intelligence, and on-chain gaming.
In 2024, Genfinity was actively interviewing a range of DePIN projects, from well-established names to those in various stages of development, such as token launches. We’ve curated a list of DePIN projects leveraging decentralized infrastructure to make a positive impact on the world. We’ve also recapped several of these interviews and provided updates on the current status of these projects.
Neuron Innovations
Neuron is a DePIN project at the forefront of transforming decentralized physical infrastructure networks by integrating Web3 technology with real-world applications. Founder James Dunthorne joined Genfinity in June to discuss his project and upcoming mainnet. Essentially, Neuron was conceived from a need to streamline data transmission for drones, which led to a robust decentralized network built on the Hedera Network.
Neuron’s innovation lies in its approach to decentralization: instead of merely tokenizing existing infrastructure, Neuron eliminates single points of failure by allowing direct, peer-to-peer interactions between devices and users. This design ensures that the network remains operational and resilient, even if individual entities or servers fail.
Significantly, what sets Neuron apart from other DePIN projects is its commitment to true decentralization. While many DePIN networks might still rely on centralized servers or intermediaries, Neuron’s infrastructure operates without such dependencies, providing a more secure and reliable system. Their Everything Map exemplifies this by offering a decentralized platform where users can explore, connect, and manage services directly. This approach enhances operational efficiency but also fosters a collaborative ecosystem by allowing third parties to integrate and develop applications on Neuron’s network. Thus, Neuron is not just participating in the DePIN space; it’s redefining it by pushing the boundaries of decentralization and resilience.
How Neuron Works
Neuron integrates advanced technology with decentralized infrastructure to address specific aerial data collection and processing challenges. Here’s how the system works:
Data Collection and Management: Drones equipped with high-accuracy GPS and other sensors capture detailed spatial data during their flights. This data is transmitted directly through Neuron’s decentralized network, ensuring the information is securely and efficiently relayed without bottlenecks.
Everything Map and Decentralized Access: Central to Neuron’s approach is the Everything Map, a decentralized platform that serves as a hub for accessing and managing drone data. Moreover, this map allows users to explore, connect, and interact with various services within the network, showcasing a wide array of use cases from flight tracking to environmental monitoring.
Collaboration and Ecosystem: Neuron’s network facilitates integration with third-party applications and services. Furthermore, by partnering with entities like JetVision and participating in collaborative frameworks such as NASA’s InterUSS, Neuron enhances the functionality and reach of its drone mapping system. This collaborative approach supports a wide range of applications and use cases, from flight tracking to local service discovery.
Neuron’s Token and Mainnet Launch
Neuron’s upcoming token, designed to underpin its decentralized infrastructure, is critical in ensuring trust and accountability within the network. The token facilitates peer-to-peer transactions and supports dispute resolution by acting as collateral, with penalties for service failures reinforcing reliability. Notably, the mainnet is set to launch at the end of Q3 or beginning of Q4 this year, and the Neuron token will be introduced shortly after that, promising benefits such as fee discounts, yield generation, and community voting rights.
peaq blockchain
We had the opportunity to interview peaq blockchain in May. peaq is an advanced layer-one blockchain designed specifically for DePIN projects and Machine Real-World Assets (RWA). It stands out with its ability to process over 100,000 transactions per second (TPS) and supports both ink! (Rust) and EVM Smart Contracts, providing flexibility for developers. Furthermore, by integrating with Polkadot and offering Ethereum bridging, peaq builds a decentralized, positive-sum economy, making the benefits of AI-driven machines accessible to everyone and fostering a globally distributed network governed by its community.
peaq is notable for its decentralization and scalability. With a Nakamoto Coefficient above 90, it boasts a high degree of decentralization, which enhances network security and resistance to attacks. Moreover, the blockchain’s scalability is achieved through Elastic Scaling and Agile Core Time, which allow it to manage substantial transaction loads effectively. These features enable peaq to support a broad range of DePIN projects and adapt to various use cases, from everyday devices to complex infrastructure systems.
Nexera significantly contributed to the peaq ecosystem by aiding in the launch of the KREST token and the EoT simulation hub within the KREST network. Significantly, this collaboration highlights Nexera’s role in pushing forward DePIN technology and broadening the decentralized infrastructure space. Through these joint efforts, Nexera and peaq work together to advance the use of tokenized real-world assets and drive innovation in decentralized economies.
peaq Blockchain’s Recent Developments
This summer, the peaq blockchain made notable strides, with its ecosystem devices exceeding 800,000 and its roadmap to launch going live. The number of DePINs built on peaq surpassed 30, while the platform was ranked #1 on fundamentals by CertiK, and YOM Official expanded its operations from Solana to peaq. Additionally, Messari highlighted peaq’s achievements in a detailed analysis.
Furthermore, peaq blockchain has collaborated with other entities to enhance DePIN projects. Firstly, Teneo Protocol and peaq blockchain collaborated to advance the integration of real-world assets with decentralized networks. Teneo provides a robust data layer for securely storing and verifying machine data, while peaq’s Layer-1 infrastructure supports these processes with scalable and decentralized capabilities.
Notably, their partnership aims to set new data integrity and transparency benchmarks, driving innovations across mobility, energy, and IoT sectors. Together, they are working to enhance the functionality and reach of DePIN projects, ultimately transforming how physical assets are managed and utilized in a decentralized economy.
Recently, YOM announced a strategic partnership with peaq. YOM, which focuses on cloud gaming and interactive experiences, will leverage peaq’s blockchain technology to expand its services. As a first step, YOM will launch its Genesis Series, introducing a non-fungible token (NFT) Node Mint on the peaq blockchain. They aim to overcome traditional challenges in cloud gaming such as high costs and latency. This collaboration will enable YOM to stream high-quality AAA games to various devices, potentially disrupting established gaming platforms and offering new opportunities for game studios.
You can visit their recent roadmap update to learn about Peaq’s upcoming token listing.
NATIX Network
Joining our podcast in July, NATIX is making significant strides in the decentralized infrastructure space with its DePIN initiative. Founded by Alireza Ghods, NATIX is transforming how data is collected and utilized by developing a large-scale camera infrastructure that doesn’t require owning physical cameras. Instead, the company leverages AI to convert raw data into valuable insights, subsequently enabling efficient and secure data management. This approach revolutionizes data collection and enhances privacy by processing data on edge devices rather than transmitting it externally.
NATIX’s involvement with DePIN has been pivotal in reshaping infrastructure development, particularly in data collection and analysis. Using AI and blockchain technologies, NATIX aims to build and operate the world’s largest decentralized camera network, which crowdsources and tokenizes camera data. Fundamentally, this model allows users to contribute their devices to the network and receive rewards in the form of NATIX token. These individual contributions incentivize participation, ensuring data accuracy and integrity through validator nodes.
In its quest for technological advancement, NATIX has established strategic partnerships with various blockchain platforms, including Peaq. Notably, Peaq blockchain hosts an array of DePIN projects. By integrating its technology with Peaq’s blockchain, NATIX enhances the security and efficiency of its DePIN infrastructure. Moreover, NATIX continues to expand its influence across sectors, from logistics to autonomous vehicle navigation, showcasing the transformative potential of decentralized technologies.
Evernode
In June we met with Scott Chamberlain, Co-Founder of Evernode, an innovative platform designed to leverage decentralized computing to enhance the functionality of smart contracts and dApps within the XRPL ecosystem. Evernode is built on a robust, multi-layered architecture. This architecture incorporates flexible smart contracts, decentralized hosting, and a specialized layer-one blockchain to create a versatile and secure environment for dApps. The Evers token (EVR) is central to its ecosystem, which plays a crucial role in facilitating transactions, incentivizing network participation, and governing the Evernode network.
Chamberlain’s expertise in blockchain, gained through roles like his position with Ripple Labs’ UBI University Blockchain Research Initiative, significantly shaped Evernode’s development. His initial exposure to blockchain technology and its potential for smart contracts fueled the creation of Evernode, which he views as a transformative tool in both legal and economic frameworks. The platform’s design emphasizes decentralization and flexibility, allowing dApps to operate efficiently and securely across a network of distributed Linux hosts. Furthermore, Evernode’s use of the Xahau blockchain as its underlying ledger and smart contract hooks enhances its capabilities and ensures robust governance within the ecosystem.
Ultimately, the Evers token is integral to Evernode’s operation, serving as both the currency for transactions and a mechanism for incentivizing network participation. It rewards hosts who provide the computational resources necessary for dApp operations and support the platform’s governance structures. With a focus on scalability and adaptability, Evernode is poised to facilitate a thriving decentralized economy where developers and hosts can interact dynamically. As the network grows, Evernode’s emphasis on community support and strategic development aims to attract more developers and expand its influence within the blockchain space.
DePIN projects — What’s Next?
You can explore a comprehensive list of Genfinity’s interviews with DePIN projects here.
As we keep exploring the forefront of decentralized technologies with interviews from industry pioneers, Genfinity is excited to hear your thoughts. Which DePIN projects would you like us to feature next? Share your suggestions in the comments!
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