Latest DePIN News

OpenAI's acquisition of Rockset, a real-time search and analytics database startup, aims to enhance its AI model, ChatGPT, with faster and more accurate analytics services. This integration will bolster the speed of AI model responses and support entities needing quick information retrieval from large datasets. Meanwhile, the Defence Research and Development Organisation (DRDO) seeks consultants with a monthly salary of Rs.50000, favoring candidates with prior DRDO experience and strong English communication skills, up to the age of 63, for a one-year term. The Grass project, an AI initiative, incorporates Solana wallets for reward distribution, ensuring data provenance and enhancing developer confidence in the data's reliability.

Decentralized Physical Infrastructure Networks (DePIN) are leading the charge in integrating blockchain tech with real-world infrastructure, enhancing transparency and efficiency. Top DePIN projects for 2024 include Script Network with its innovative Script TV, rewarding viewers with $SCPT tokens for engagement. Helium Network is expanding IoT connectivity with its proof-of-coverage consensus algorithm, while Filecoin is setting new standards in decentralized data storage. Chainlink is also transforming the space with its decentralized oracle network, ensuring secure and reliable data feeds for smart contracts.

Decentralized Physical Infrastructure Network (DePin) projects are gaining attention for their innovative solutions to real-world issues. Three notable DePin projects are set to offer airdrops, presenting opportunities for blockchain enthusiasts and investors. Grass, a decentralized web scraping network, is converting public web data into AI datasets and has recently initiated an update asking users to connect their Solana wallets, indicating an imminent airdrop. Grass has secured approximately $4.5 million in funding from investors like Polychain Capital and Tribe Capital. The U2U Network, a layer-1 blockchain for DePin, is also conducting an airdrop campaign, encouraging users to complete on-chain tasks for NFT rewards. With $10 million raised from three funding rounds, U2U Network is leveraging NFTs and loyalty points to enhance user engagement. Lastly, Chirp, a DePin telecommunications network for IoT and voice communication, is launching the Chirp Tracker App Campaign as part of its airdrop strategy to increase user participation and network growth. These airdrops are integral to the projects' roadmaps for broader token distribution and heightened user engagement.

Binance's educational initiative, Learn and Earn, rewards users with free cryptocurrency for completing quizzes on various crypto projects. To access, open the Binance App, switch to Pro mode, navigate to 'Learn & Earn' under 'Gift & Campaign', and start the learning process. Users can earn rewards by completing courses and quizzes, such as the PowerPool ($CVP) quiz, which covers topics like PowerPool's partners, DAO focus, infrastructure, and the PowerAgent network's operation and security mechanisms.

Chia has released version 2.4.0 of its reference client, which includes a soft fork and several new features to enhance performance and security. Key updates include the full implementation of the new wallet sync protocol introduced in version 2.3.0, enabling real-time updates for relevant transactions in the mempool. Additionally, observer wallets have been introduced, allowing users to view their wallet's history and balance without storing private keys locally, thus improving privacy and security. The block fill rate has also been increased to 70%, with plans to raise it to 100% by the end of 2024, aiming to achieve a network speed of around 40 transactions per second (TPS). The release also includes a soft fork to align the BLS implementation with industry standards, which will activate at block 5,940,000, expected in September 2024. Users are advised to upgrade to version 2.4.0 or later before this block. Lastly, support for macOS 11 (Big Sur) will be discontinued in the next release, as Apple ended support for this version in September 2023.

Investors looking for high-growth opportunities in the crypto market should consider four coins: PawFury, Dogecoin (DOGE), Filecoin (FIL), and Floki Inu (FLOKI). PawFury has gained traction with its unique blend of humor and innovation, raising $3.37 million in its presale phase. With strong community support and an innovative approach, PawFury stands out in the memecoin market. Dogecoin, initially a joke, has become a significant player in the crypto market with its strong community and potential for growth. Filecoin provides a decentralized storage solution, addressing the growing need for secure, scalable data storage. Floki Inu, inspired by meme culture, has an active community and marketing strategies that suggest potential for substantial growth. Each of these cryptocurrencies offers unique advantages and potential for significant returns. Investors should exercise due diligence, conduct thorough research, and evaluate their risk tolerance before investing.

The logistics industry is facing challenges due to outdated software systems and a lack of interoperability, standardization, and immutability. Web3 technology is seen as a potential solution, offering transactional efficiency, security, scalability, transparency, and accessibility. However, despite its potential, open, decentralized networks and token reward systems have yet to fully integrate into the supply chain and logistics. The key to a successful DePIN solution lies in incentivizing transparent data production and sharing to improve industry-wide data quality standards. Resistance to change, high costs, and a lack of universal data standards are major obstacles. The failure of TradeLens, a joint venture between Maersk and IBM, highlights the difficulties in achieving commercial viability and widespread adoption of web3-powered logistics solutions.

io.net, a Decentralized Physical Infrastructure Network (DePin) for computing networks, has partnered with OpSec, a privacy-focused cloud solution. This collaboration will integrate io.net's decentralized GPU resources into OpSec's cloud infrastructure, enhancing cloud operations for developers and enterprises. The partnership will develop a proof-of-concept to showcase the efficient deployment of OpSec's nodes across io.net's network, improving scalability and accessibility of cloud resources. This is expected to support a wide range of machine-learning models and cloud-based applications. Despite these developments, io.net's native currency, the IO token, has faced significant market volatility, declining by over 30% after reaching an all-time high. The token plays a crucial role in the io.net ecosystem, facilitating services, transactions, and fees, and incentivizing contributors for their GPU power.

APhone, a decentralized cloud-based smartphone, is set to challenge the dominance of Apple and Google with the launch of its AppNest store, which will not charge developers any fees. The store will support both decentralized applications (dApps) and traditional web2 apps, offering an alternative to the steep fees charged by the tech giants. APhone's chief business officer, William Paul Peckham, stated that the goal is to democratize technology access and provide a full Web3 experience to users worldwide. The AppNest store will support popular web3 apps like MetaMask, Phantom, and Binance, as well as web2 apps such as WhatsApp, Facebook, Instagram, and ChatGPT. The store is exclusively available through the APhone app. APhone is powered by Aethir, a decentralized physical infrastructure network (DePIN) provider, which allows the smartphone to run both advanced Web3 applications and conventional apps on any web browser-compatible device.

APhone has unveiled its new decentralized app store, AppNest, which is set to revolutionize the mobile app market by offering a free and open platform for developers to host and manage their applications. Unlike traditional app stores like Google and Apple, which charge up to 30% in fees, AppNest allows developers to host their apps for free, fostering an environment that is less restrictive and more inclusive. The platform supports a wide range of applications, including blockchain-focused and traditional Web2 apps, providing users with an 'outside the box' experience that transcends geographical and economic barriers. AppNest's diverse offering includes popular Web3 games and apps, as well as mainstream Web2 applications like WhatsApp and Instagram. APhone, a cloud-based smartphone, leverages decentralized cloud computing infrastructure powered by Aethir, an AI-focused GPU-as-a-service provider, ensuring enhanced security and protection for user data and digital assets.