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By Boboye Adeyemi
In 2024, a few emerging technologies, including AI, RWA, and DePIN, are in the spotlight. However, DePIN has taken center stage, especially in the Blockchain Industry.
DePIN, also known as Decentralized Physical Infrastructure Networks, uses blockchain technology and token incentives to aggregate and organize real-world resources, such as mobile phones and laptops.
The tokenization of real-world data generated from devices (mobile phones and laptops) provides enough incentives for DePIN's growth, enabling participants to earn passive income.
The industry has experienced massive growth, with about $44B market cap. This is due to their value-added directly translating to actual usage of physical infrastructure, thus not based on arbitrary supply and demand, but actual resources used.Â
This article will discuss 5 DePIN projects you should consider in 2024.
Acurast
Acurast disrupting the cloud monopoly with mobile hardware, democratizing and decentralizing the cloud. Where everyone can become part of the decentralized Cloud with their mobile phone. Giving developers complete permisionless access to compute that is trustless, affordable, and confidential.
By using mobile phone chips, Acurast provides better performance and the convenience of cloud services while ensuring complete data confidentiality at about 50% reduced cost compared to traditional cloud services.
Acurast offers an attractive incentive through the Acurast Bootstrapping Program. This incentive is for active processors, and they’ll get up to 250 cACU Tokens per month per device. This incentive is in addition to the rewards received through executing jobs.
Grass
Grass is a network of over 2 million people who are rewarded for helping AI developers access the internet. Its goal is to prevent the concentration of AI by allowing ordinary people to play a part and share in the benefits of its growth. Grass lets you earn passive income by selling your unused bandwidth without compromising your privacy. Grass is the easiest way to participate in the growth of AI. Join 1200000+ users securely monetizing their internet resources.
As an early adopter, you’ll benefit from selling unused bandwidth and gain a stake in an innovative network poised to index the web. It’s not just income; it’s an investment in the future of the internet.Grass Points are mined through any available computer with internet access. I have mined up to 5,000 Grass Points in a single day with no maintenance and no additional electricity usage. Not bad but the dollar amount is still to be determined.
Crust Network
CRUST provides a decentralized storage network of Web3 ecosystem. It supports multiple storage layer protocols such as IPFS, and exposes storage interfaces to application layer.
Crust’s technical stack is also capable of supporting a decentralized computing layer. It is designed to build a decentralized cloud ecosystem that values data privacy and ownership.
Crust Files enables decentralized and secure upload of files, and easy sharing to friends, family and even Metaverse applications, such as publicly hosting your NFT metadata.
Peaq
peaq is a multi-chain layer one blockchain purposely built and optimized for DePIN and Machine RWA. The network is capable of scaling beyond 100,000 transactions per second (TPS) (pending upgrade) while maintaining a minimum transaction cost of approximately $0.00025. peaq leverages the most environmentally friendly blockchain architecture available and the second-largest developer ecosystem in Web3.
peaq enables seamless interaction with Polkadot, cross-chain machine IDs with Cosmos, Solana, and Binance, and bridges to Ethereum. peaq is EVM-compatible and is birdged to 30+ blockchains via Wormhole. peaq rewards machines and DePIN builders that connect, contribute, and generate transactions on the network, fostering a decentralized positive-sum economy that works for the world.
Aethir
Aethir is a cloud computing infrastructure platform that revolutionizes the ownership, distribution, and utilization paradigms of enterprise-grade graphical processing units (GPUs). By moving away from traditional centralized models, Aethir has deployed a scalable and competitive framework for sharing distributed computational resources, catering to enterprise applications and clientele across various industries and regions.Â
At its core, Aethir optimizes GPU utilization for compute-intensive domains and applications like Artificial Intelligence (AI), Machine Learning (ML), and Cloud Gaming – amongst several others.
Conclusion
The project listed above are very good and from research are the ones that have shown massive potential to use the DePIN narrative to shape the future of Web3. By utilizing blockchain technology and token incentives, they are enhancing performance, security, and transparency across various applications.Â
If you have any other project you find interesting, you can drop it in the comment section.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.