Latest DePIN News

IoTeX, a leading modular Decentralized Physical Infrastructure Network (DePIN) blockchain platform, has upgraded its Mainnet to version 1.14.0, achieving a remarkable increase in throughput to 1000 transactions per second (TPS). This enhancement places IoTeX as the sixth fastest blockchain globally and the second fastest among EVM-compatible chains. The upgraded Mainnet v1.14.0 has raised the block gas limit to 50M, significantly enhancing processing capabilities while maintaining blockchain stability. With over 114 million transactions and 29.5 million blocks processed to date, IoTeX provides a robust and scalable environment for developers to build DePIN applications. The IoTeX L1 serves as a trust source for project-related token economies and identity layers, offering speed, low costs, and instant finality with transaction costs as low as a fraction of a penny. The upgrade also improved delegate management through delegate endorsements, activated with the approval and activation of the latest IoTeX Improvement Proposal (IIP), making delegate management more flexible and encouraging diverse projects to participate in the IoTeX network operation. CEO of IoTeX, Raullen Chai, stated, 'This performance upgrade is a significant milestone for IoTeX, offering developers a powerful platform for building next-generation DePIN applications and solidifying IoTeX's position as a leading blockchain for a scalable, secure future.' IoTeX is a modular Web3 infrastructure platform that connects smart devices and real-world data to blockchains, empowering developers to integrate Web3 into everyday life through various innovations. With the launch of W3bstream, the world's first off-chain compute framework for smart devices and real-world data, IoTeX has become a leading DePIN technology provider, enabling vertical innovations for machines, humans, businesses, and dApps to interact with trust and privacy.

IoTeX, a decentralized Physical Infrastructure Network (DePIN) platform, has successfully secured a $50 million investment from a consortium of leading venture capital firms. This funding round, spearheaded by SNZ Capital, Foresight Ventures, FutureMoneyGroup, and Borderless Capital, aims to accelerate the growth and adoption of IoTeX's ecosystem. The funds will be allocated towards long-term staked IOTX, the native token of the IoTeX network, and investments in DePIN projects building on the platform. IoTeX's platform is designed to connect smart devices and real-world data to blockchains, enabling developers to integrate Web3 technology into everyday life. With its EVM-compatible L1 blockchain, off-chain compute middleware, and open hardware, IoTeX facilitates the interaction between billions of smart devices, machines, sensors, and dApps across the physical and digital world. The IoTeX ecosystem has been actively involved in developing and expanding DePIN throughout 2024. In early 2024, FutureMoney Group, in partnership with the IoTeX Foundation, launched a $5 million DePIN accelerator program to support startups innovating in the space. Additionally, IoTeX has formed strategic alliances with organizations such as Ankr to bolster the DePIN ecosystem and enhance the performance and decentralization of decentralized networks. Jing Sun, Co-Founder and Head of Investment at IoTeX, emphasized the potential for startups to innovate and bring verified, real-world data on-chain within the growing DePIN ecosystem. Keith Chen, Founding Partner of SNZ Capital, expressed excitement about investing in IoTeX and the DePIN projects building on its modular platform. Borderless Capital, known for being one of the most active DePIN investors, also participated in the funding round. With a focus on modular infrastructure, privacy, and traffic-routing solutions, IoTeX has positioned itself as a key player in the ongoing evolution of DePIN. The platform's commitment to simplifying the lives of application builders by providing off-the-shelf infrastructure solutions and support for go-to-market strategies, liquidity building, and community development has attracted developers and fostered innovation within the DePIN space.