End of Week Recap - Oct. 15th

Decentralized Physical Infrastructure

Author

Michael Blake
October 15, 2023

End of Week Recap - Oct. 15th

Top News Headlines

  • SEC Backs Down In Grayscale Bitcoin ETF Case, Won't Contest Court Decision: Report - Read More

  • Ferrari to accept crypto as payment for its cars in the U.S. - Read More

  • How terror group Hamas uses crypto to bypass sanctions - Read More

Top Crypto Prices by Market Cap.

1. Bitcoin $27,151.81 7D -2.8%
2. Ethereum $1,557.41 7D -4.5%
3. BNB $209.73 7D -0.7%
4. XRP $0.487 7D -5.7%
5. Solana $21.92 7D -5.7%

6. Cardano $0.247 7D -3.7%
7. Dogecoin $0.059 7D -2.6%
8. TRON $0.086 7D -1.5%
9. Toncoin $1.92 7D  -6.4%
10. Polygon $0.515 7D -8.0%

Source: Coingecko Price Feed, Oct. 15th 2023, 7:55pm EST. Data excludes Lido Staked Ether, and stablecoins USDC and USDT.

Spotlight: Decentralized Physical Infrastructure (DePIN)

One of the biggest criticisms of the crypto/digital asset industry is the lack of real-world, physical businesses. Last week we dispelled this notion when talked about Real-Estate Tokenization, and today we are highlighting another emerging crypto narrative: Decentralized Physical Infrastructure, or DePIN.

So what is Decentralized Physical Infrastructure?

DePIN refers to projects that use tokenization and blockchain tech to coordinate and incentivize users to build and maintain their own physical infrastructure. Essentially crowdsourcing real world infrastructure projects.

Typically major corporations are in charge of building our critical infrastructure like telecom networks, energy grids, and cloud storage. Web3 companies are now stepping in to turn this centralized model on its head.

Source: Messari

Let’s look at some of the companies leading the DePIN revolution

Helium (HNT) is a network for wireless infrastructure. Users can buy Helium hotspots and earn the native HNT token for providing wireless coverage. Helium aims to provide coverage for the Internet of Things wireless connections and 5G. It has scaled to more than 900,000 hotspots today.

Filecoin is a P2P storage network that creates a decentralized market for storage space. Users pay to store their files and providers receive Filecoin (FIL) for providing storage space. Nodes propose storage and retrieval deals and pay for them. Filecoin seeks to create an open market for data storage and rival established providers on price and decentralization.

Hivemapper - Sensor Network is a decentralized version of Google Maps, where participants map street data with dashcams they have to acquire. They are rewarded with the native HONEY token for driving or walking around with a dashcam and contributing to the Hivemapper mapping process.

Source: Messari

The DePIN space is certainly worth monitoring, with new companies and sectors innovating every day. As always, do your own research, but it’s clear physical businesses have arrived in crypto!

That’s it for the End of Week Recap by DAI! If you found this useful, please share and recommend! Thanks for reading!

Reply

or to participate.