Hivemapper: A Decentralized Approach to Mapping Challenges Google Maps
Thursday, June 27, 2024 10:37 AM
15
Hivemapper, a decentralized physical infrastructure network (DePin), claims to expand its map database four to five times faster than Google Maps using blockchain technology. The company’s co-founder, Ariel Seidman, attributes this growth to unique contributor engagement strategies, such as incentivizing early adopters with HONEY tokens. Despite mapping 21% of the world’s roads in just 31 months, Hivemapper faces challenges with demand, as the project has not seen the same growth in demand as on the supply side. This imbalance is crucial because Hivemapper’s token-based incentive model relies on a market for its data that matches its growth. The journey of Hivemapper offers a blueprint for how decentralized technologies can disrupt traditional industries by realigning incentives.
Related News
7 hours ago
NATIX Token LaunchNATIX is a global mapping network powered by their proprietary AI and camera DePIN. NATIX’s flagship product “Drive&” uses driver assistant apps (e.g. dashcam and navigation), token incentives, computer vision AI, and smartphone cameras to map the roads and support various mobility, autonomous drivi
10 hours ago
DePin Sector Update: ATOR Rebrands, Verida Raises Funds, Synternet Launches MainnetDecentralized Physical Infrastructure Networks (DePin) are making waves in the tech industry by facilitating decentralized projects in real-world infrastructure. ATOR Protocol has rebranded to Anyone, aiming to make internet privacy a standard for all users with its new Anon network. Meanwhile, Veri
17 hours ago
Nubila Secures $2.5 Million in Funding for ESG Data Oracle ExpansionNubila, a leading data oracle in the Decentralized Physical Infrastructure Network (DePIN) ecosystem, has initiated a fundraising round. The round is led by IoTeX and VeChain, along with the Boston Consulting Group, and has attracted participation from a diverse group of investors including OrangeDA
18 hours ago
DePin Supercycle: The Next Big Thing in BlockchainCrypto analysts are predicting a Decentralized Physical Infrastructure Network (DePin) supercycle, driven by Web3 and AI advancements, reminiscent of the early Internet era. DePin aims to decentralize applications currently dominated by tech giants like AWS and Google Cloud. The AI sector is particu
2 days ago
BlockDAG's Keynote 2 Presentation Sparks 30,000x ROI Potential Amid Crypto Market CompetitionWhile ApeCoin and Helium are gaining attention in the cryptocurrency market, BlockDAG has emerged as a strong competitor with its groundbreaking Keynote 2 presentation. The presentation has significantly increased BlockDAG's pre-sale earnings to $54.5 million and is expected to yield up to a 30,000x
4 days ago
Exploring the Potential of Decentralized Physical InfrastructureSean Cary, Helium's co-founder and Borderless Capital's lead partner, discusses the boundless potential of Decentralized Physical Infrastructure Networks (DePIN) in his latest article on CoinDesk. He explains DePIN as either bespoke networks with custom hardware or commodity DePIN that operates on e
4 days ago
The Power of Decentralized Physical InfrastructureDecentralized physical infrastructure (DePIN) is a growing field that integrates technology into everyday life, making it more accessible and user-friendly. The Helium Blockchain is a prime example of DePIN's power, offering a new way of thinking and simplifying complex Web3 concepts. DePIN projects
4 days ago
Synternet Launches Mainnet on Cosmos PlatformSynternet, a blockchain designed for modular data infrastructure, has launched its mainnet on the Cosmos platform. This move marks the end of the Monaco phase and the beginning of a new era for the decentralized data economy. The mainnet launch enables the practical use of the SYNT cryptocurrency an
4 days ago
Synternet Launches Mainnet on Cosmos, Unleashing Decentralized Data Economy PotentialSynternet, a blockchain that supports modular data infrastructure across major chains such as Ethereum and Cosmos, has launched its mainnet on the Cosmos network. This significant step completes the Monaco phase and marks the beginning of a new era for the decentralized data economy. Synternet's tok
5 days ago
Coinbase Will Not Facilitate Ocean-Fetch AI Token MergerCoinbase has announced that it will not facilitate the upcoming merger of the Ocean Protocol (OCEAN) and Fetch.ai (FET) tokens related to the Artificial Superintelligence Alliance (ASI). The exchange will continue to support trading for both tokens until further notice but will not execute migration