The term DePIN (decentralized physical infrastructure networks) has gained traction, with a projected market valuation of $1 trillion in the next decade. DePIN's roots trace back to early decentralized networks like BitTorrent and the Tor network, which showcased the power of decentralized systems in distributing data and enhancing privacy. Today, DePIN has evolved into a distinct vertical within the blockchain space, with significant investments in ventures like decentralized wireless networks and storage solutions. However, many projects misappropriate the DePIN label, failing to deliver on the fundamental aspects of providing physical infrastructure and network governance through consensus voting of the network's hardware. To qualify as true DePIN, projects must be in the business of providing physical infrastructure and operate without central control, utilizing physical assets and fairly rewarding contributors. The misuse of the DePIN term can mislead investors and stakeholders, diluting its meaning and undermining the integrity of genuine DePIN initiatives. Understanding the core principles that define true DePIN projects is vital for the industry's health and growth, as DePIN has the potential to democratize access to essential infrastructure, reduce costs, and enhance resilience by eliminating single points of failure.

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DePIN: The Misunderstood Revolution in Physical Infrastructure