Latest DePIN Funding News

In an exciting development for the Web 3.0 landscape, aZen Protocol has announced a strategic partnership with Stratos. This collaboration aims to merge aZen's innovative DePIN (Decentralized Physical Infrastructure Network) and SocialFi technologies with Stratos' robust decentralized storage and computing services. By combining these strengths, the partnership is poised to enhance the efficiency and security of decentralized infrastructures, paving the way for a more integrated and user-friendly Web 3.0 experience. At the heart of aZen Protocol is its DePIN framework, which transforms computing resources and applications into NFTs, allowing for efficient management and seamless integration. This framework supports universal computing tasks across various networks and devices, ensuring scalability and security. Additionally, aZen Connect, the SocialFi component, incentivizes user engagement through a click-to-earn model, making it a valuable tool for social media marketing and community interaction. This innovative approach not only rewards participation but also enhances digital traffic, creating a vibrant ecosystem for users. Stratos, known for its decentralized infrastructure, provides essential services that include storage, computing, and blockchain capabilities. With a network of over 800 storage nodes and a capacity exceeding 14 PB, Stratos offers a decentralized alternative to traditional cloud services, ensuring transparency and privacy. The partnership will leverage Stratos' decentralized storage to bolster aZen's tokenized computing resources and enhance the user experience on aZen Connect. Together, aZen and Stratos are set to redefine the landscape of decentralized infrastructure and social engagement, empowering developers and users alike in the evolving Web 3.0 environment.

In the wake of the 2008 financial crisis, the flaws of the centralized monetary system became glaringly apparent, prompting the emergence of Bitcoin as a revolutionary force aimed at separating money from state control. This shift towards a decentralized financial system is underpinned by blockchain technology, which enables the creation of systems for finance, identity, and social coordination without the need for centralized intermediaries. As the demand for individual liberties grows, the limitations of first-generation smart contracts become evident, necessitating the development of more advanced systems like SQL Smart Contracts to fully realize the potential of blockchain technology. Smart contracts, as pioneered by Ethereum, represent a significant advancement in decentralized applications, allowing for programmable logic to be executed across a network. However, current smart contracts face critical limitations in data management, particularly with index and access path dependence. These constraints hinder the ability to retrieve and manipulate data efficiently, thereby restricting the development of complex applications. The rigid structure of Ethereum's data storage means that developers must often restructure contracts to accommodate new functionalities, leading to increased costs and reduced usability. To overcome these challenges, platforms like Kwil are integrating relational databases into blockchain technology, enabling developers to leverage SQL's flexibility for data manipulation. This paradigm shift allows for the creation of more sophisticated and data-intensive decentralized applications, enhancing the capabilities of blockchain beyond simple cryptocurrency transactions. By adopting a relational model, the blockchain industry can unlock new applications that were previously unfeasible, paving the way for a more decentralized and trustworthy digital landscape that aligns with the foundational principles of freedom and self-determination.

In a groundbreaking collaboration, Hawk Networks, a key contributor to the Althea ecosystem, has teamed up with Globalstar, Global Telecom, and Alliance to revolutionize connectivity solutions in the telecom industry. This partnership integrates Globalstar’s Band 53 with Althea’s KeyLTE/5G, unlocking access to previously inaccessible licensed spectrum resources. The initiative aims to democratize telecom infrastructure, allowing organizations of all sizes—from small operators to local communities—to build high-performance networks. This shift addresses the historical barriers that have limited access to licensed spectrum, enabling a more inclusive approach to telecom network deployment, particularly in underserved broadband areas and smart agriculture applications. At the heart of this innovation is the Althea platform, which leverages blockchain technology to create a decentralized ecosystem for network management. Unlike traditional telecom models that rely on centralized entities, Althea automates processes such as payment settlements and bandwidth allocation through smart contracts. This automation reduces operational overhead, making it easier for smaller operators to participate in the market. By providing a streamlined solution that includes necessary radio equipment and core network components, Althea empowers a diverse range of participants to build and manage their telecom infrastructure, driving innovation and competition in the sector. The partnership also highlights the potential of real-world assets (RWAs) in telecom. By integrating RWAs like telecom towers and spectrum into its blockchain framework, Althea enables these assets to become tradable and programmable. This creates a dynamic marketplace for telecom resources, allowing operators to efficiently manage and scale their networks based on real-time demand. As the telecom landscape evolves, this collaboration sets a precedent for a more flexible and inclusive future, where high-performance connectivity solutions are accessible to all, fostering growth in emerging markets such as IoT and connected devices.

A couple of weeks ago, I attended the Nexus Forum in Brussels, where policymakers, researchers, and SMEs gathered to discuss the European Edge Cloud Continuum. This strategic initiative aims to enhance Europe’s capabilities in cloud computing and edge technologies by moving data processing closer to its source. This shift is crucial for achieving faster and more efficient data management, reducing reliance on distant data centers. However, with the European cloud market increasingly dominated by non-EU providers like Amazon, Microsoft, and Google, the EU faces significant challenges in establishing cloud sovereignty and competing on a global scale. The European Commission (EC) is actively investing in cloud and edge computing to address this imbalance, with ambitious goals such as ensuring that 75% of EU enterprises adopt cloud solutions by 2030. The proposed federated cloud model seeks to combine smaller players, including telecom operators and local services, to create a unified front against global giants. However, fragmentation within the European market complicates this effort. The cloud-edge continuum concept aims to integrate various providers, from large cloud services to small edge nodes, to deliver computing resources closer to where data is generated. During the forum, I inquired about the role of decentralized technologies like Streamr in this vision. While the EC's roadmap places decentralized technologies at the far end of the cloud-edge continuum, many DePIN projects are already operational today. Streamr, for instance, can serve as a decentralized data backbone, facilitating the integration of various services and enhancing the efficiency of data management. To realize the potential of decentralized solutions in achieving cloud sovereignty, there must be more dialogue between policymakers and innovators, ensuring that these technologies are recognized and integrated into Europe’s strategic framework for the future.

In the ever-evolving landscape of cryptocurrency, analysts are predicting significant gains for DTX Exchange and Bittensor (TAO) in the final quarter of 2024. A Shiba Inu (SHIB) analyst forecasts that these altcoins could see returns as high as 20 times their current value, driven by their innovative features and strong market presence. As the crypto market remains volatile, Shiba Inu has experienced a slight decline of 2.8% over the past week, fluctuating between $0.0415 and $0.0419. Despite this, it appears to be stabilizing around $0.0418, with investors closely monitoring market conditions. Bittensor (TAO) is currently trading at approximately $636.26 and has seen a remarkable price increase of over 14% in the past week. This surge is attributed to growing investor confidence in its decentralized machine-learning capabilities, particularly as major AI companies rebound. Analysts are optimistic about Bittensor's future, especially with the upcoming launch of the Bittensor Improvement Template (BIT001), which will tokenize each subnet within its ecosystem. This, along with the introduction of the $TAOBOT token, is expected to enhance the value of Bittensor (TAO) significantly. On the other hand, DTX Exchange is also poised for substantial growth, with predictions of 20x gains by the end of 2024. The platform's unique features, such as a 1000X trading capacity without KYC requirements and gas-free trading through its VulcanX feature, make it an attractive option for traders. Additionally, DTX Exchange emphasizes financial inclusion for unbanked individuals, providing them access to global markets. With a focus on security through on-chain verifications and non-custodial solutions, DTX Exchange is well-positioned for rapid growth, making it a strong contender in the crypto market alongside Bittensor (TAO).

Binance has recently published its 23rd Proof of Reserves snapshot for October 2024, revealing notable shifts in its major cryptocurrency holdings. The report indicates a decline in Bitcoin (BTC), Ethereum (ETH), and USDT, while the exchange's native token, BNB, has seen an increase. This shift suggests a potential change in Binance's asset management strategy, prompting questions about the effectiveness of this new approach in the current market landscape. The snapshot highlights that between September and October 2024, Binance’s BTC holdings decreased by 1.58%, translating to a loss of 9,577 BTC, leaving the exchange with a total of 596,000 BTC. Ethereum reserves also experienced a decline of 1.37%, equating to over 61,000 ETH. The most significant drop was observed in USDT holdings, which fell by 3.16%, amounting to a decrease of $698 million. These reductions indicate a possible rebalancing of assets or user withdrawals, reflecting the broader volatility that has characterized the cryptocurrency market recently. Conversely, Binance's BNB holdings surged by 2.17%, adding 882,454 tokens to its reserves. This increase signifies a strategic pivot towards enhancing the prominence of BNB within the Binance ecosystem, which plays a crucial role in transaction fees and governance. The fluctuations in these assets underscore Binance's adaptability to market dynamics, with the increase in BNB suggesting a prioritization of its native token amidst the challenges faced by other cryptocurrencies. The October 2024 snapshot thus provides valuable insights into Binance's evolving strategy and priorities during these turbulent times in the crypto market.

Crust Network has made significant strides in its technical progress, recently upgrading its runtime to specification version 25. This upgrade includes parameterization of all control variables for order costs, which can be modified via Parliament, and an adjustment to the File Base Fee strategy. Additionally, the SManager 2.0.3 version optimizes the order timeout logic and introduces a retry mechanism to enhance order success rates. The team is also researching IPFS configuration optimizations and investigating the feasibility of porting the latest IPFS Kubo code to Crust, further integrating its services within the Algorand ecosystem through the wen.tools project. In terms of ecosystem collaboration, Crust has launched its ERC-7588: Blob Transactions Metadata JSON Schema on Ethereum, which enhances data visibility and auditability for blob transactions. This upgrade supports new decentralized applications and improves data management. Crust also sponsored the Polkadot Hackathon 2024 in Singapore, where the CDepin team won the Crust Bounty, showcasing the innovation within the Polkadot ecosystem. To ensure domain name availability, Crust is implementing a multi-domain backup solution, providing several accessible domains to mitigate potential risks. Community engagement remains a priority for Crust, as evidenced by its participation in various events such as the “POL Launch Countdown” in Shanghai and hosting Twitter spaces with partners like SightAI and Tanssi. These initiatives aim to explore the potential of decentralized storage solutions and appchain deployment. Crust also attended Token 2049 and supported the Blockchain Development Program, demonstrating its commitment to fostering community knowledge and collaboration within the blockchain space.

Srcful, built on the Solana blockchain, and Arkreen, operating on an EVM-compatible chain, are at the forefront of decentralized physical infrastructure networks (DePIN) focused on energy. Their recent integration of APIs allows for real-time solar power generation data to be accessed from connected solar devices. This collaboration signifies a major leap in both the renewable energy and blockchain sectors, facilitating the on-chain monetization of solar energy data. By leveraging this partnership, solar equipment linked to Srcful can now utilize the Arkreen Network to issue tokenized Renewable Energy Certificates (RECs) on-chain, transforming solar power generation data into valuable on-chain assets. The partnership also opens up new avenues for miners on the Srcful platform, who can now earn mining rewards across both ecosystems. This dual engagement not only enhances the financial incentives for participants but also fosters a deeper involvement in the decentralized energy ecosystem. By allowing users to earn rewards from both Srcful and Arkreen, the collaboration aims to stimulate growth and engagement, creating a more vibrant community around decentralized energy solutions. Together, Srcful and Arkreen are dedicated to developing the distributed energy network of the future. Their focus on demand-side applications that convert energy data into environmental asset RECs aligns with the broader objectives of sustainable energy monetization. Furthermore, Srcful’s strategic partnerships, including one with Helium, are designed to leverage Helium’s extensive network of IoT miners, driving further growth. This collaboration marks a significant evolution in the energy data landscape, paving the way for decentralized energy networks to integrate with blockchain technology and enhance the financial viability of sustainable energy initiatives.

VeChain, a leading blockchain platform, has made significant strides in supply chain management by securing key patents in blockchain-based user authentication and inventory management. These innovations enhance security and efficiency across various industries, including retail, luxury goods, and automotive. The VeChainThor blockchain plays a crucial role in real-world applications, particularly within Decentralized Physical Infrastructure Networks (DePIN). The integration of Internet of Things (IoT) technology allows for real-time tracking and anti-counterfeiting measures, ensuring transparency and authenticity in product tracking. The platform's capabilities are exemplified through partnerships with major corporations. For instance, VeChain collaborates with Walmart China to track food products from farm to table, ensuring food safety through real-time data analytics. Additionally, luxury brands like LVMH utilize VeChain's blockchain to verify the authenticity of high-end products, addressing the persistent issue of counterfeiting. In the automotive sector, VeChain works with BMW to streamline complex supply chains, enhancing vehicle production and distribution efficiency. Furthermore, VeChain's applications extend to healthcare, securing the integrity of medical supplies and pharmaceuticals, and even carbon credit tracking to promote sustainability initiatives. Recently, VeChain received approval for a U.S. patent for a blockchain-based user authentication system, which aims to enhance security and authentication processes. This patent introduces a method for managing user identity data across multiple devices securely. Additionally, VeChain attained another patent for a mobile automated inventory container system, further optimizing inventory tracking and supply chain processes. These advancements position VeChain as a pivotal player in the blockchain space, driving innovation and efficiency in supply chain management across various sectors.

Bittensor (TAO) has recently made headlines as its Open Interest reached an all-time high of $189 million, reflecting a significant increase from $50 million on September 5. This surge indicates that more traders are actively engaging with TAO, opening and maintaining positions, which is a positive sign for the token's future. Over the past month, TAO has outperformed Bitcoin (BTC) and the broader cryptocurrency market, gaining over 130%. The overall market capitalization for AI and Big Data cryptocurrencies has also risen from $26 billion to $35 billion, further boosting TAO's position as the second-largest AI crypto with a market cap of $4 billion. The recent performance of TAO has been bolstered by favorable market sentiment, as evidenced by the long/short ratio standing at 1, indicating a balanced outlook among traders. Additionally, more than $800,000 in short positions were liquidated within 24 hours, suggesting that the market is currently not favoring short traders. Technical analysis shows that TAO is trading at $590 and has formed a bullish V-shaped recovery on the four-hour chart, indicating the potential for continued upward momentum. If TAO can break through its current resistance level, the next target price could be $618. Positive indicators such as the Chaikin Money Flow (CMF) being at 0.21 and the Moving Average Convergence Divergence (MACD) line flipping above the Signal line suggest that bullish momentum is strong. Furthermore, the funding rates for TAO have remained positive since late September, indicating that long traders are willing to pay fees to maintain their positions, which reflects confidence in the token's performance. Overall, the combination of rising Open Interest, strong technical indicators, and positive sentiment paints a promising picture for Bittensor's future in the cryptocurrency market.