Decentralized Physical Infrastructure Networks (DePINs)
Decentralized Physical Infrastructure Networks (DePINs) leverage blockchain technology to create interconnected hardware networks. Resource providers are rewarded in cryptocurrency for their contributions, while clients benefit from enhanced scalability, security, and reduced costs.
A Messari State of DePIN report indicates that the number of DePIN projects has risen 12x from less than 100 in 2022 to 1,170 in 2024, while revenue has increased by 33x in 2024. The report also indicates that local governments are evaluating DePINs to tackle infrastructure challenges. These statistics highlight how quickly the sector is gaining traction and that it is worth watching.
A separate Messari report predicted the DePIN sector will grow 59% to a value of $3.5 trillion by 2028. As such, it’s clear that DePINs will play a big part in our future. Below are some emerging DePIN projects to keep an eye on.
Summary
- A Step Back: What Is DePIN in Crypto?
- 5 DePIN Projects to Have On Your Radar
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- NodeOps Network – DePIN Orchestrator Layer with 58,000+ Nodes
- Why NodeOps Is Worth Watching
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- Render Network – DePIN Video Rendering Solution
- Why Render Is Worth Watching
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- Akash Network – A Pioneering Cloud Computing Marketplace
- Why Akash Is Worth Watching
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- Io.net – Providing On-Demand GPU Access
- Why Io.net Is Worth Watching
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- Storj – Alternative Decentralized Storage System
- Why Storj Is Worth Watching
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- Final Thoughts
A Step Back: What Is DePIN in Crypto?
A Decentralized Physical Infrastructure Network or DePIN is a concept in cryptocurrency where the blockchain is utilized to decentralize control and ownership of real-world physical infrastructure like storage devices, Graphics Processing Units (GPUs), and other computer hardware.
In a DePIN, decision-making and resource acquisition are democratized among participants based on their contributions. Contributors earn rewards and may have increased voting power in proposals depending on their resource contributions.
DePINs also provide benefits such as transparency and efficiency, as they eliminate intermediaries and allow for pooled resources to reduce initial hardware costs and upgrade expenses. Established DePIN projects include Filecoin (a peer-to-peer data storage system) and Helium (a decentralized wireless network).
5 DePIN Projects to Have On Your Radar
1. NodeOps Network – DePIN Orchestrator Layer with 58,000+ Nodes
NodeOps Network is a growing DePIN orchestrator responsible for coordination and resource allocation. The project offers a Node-as-a-Service (NaaS) solution and a Cloud Marketplace for developers to hire computational nodes for decentralized applications (dApps). It supports a variety of blockchains and has shown significant growth, with over 300,000 verified users.
Why NodeOps Is Worth Watching
NodeOps is outperforming many established DePIN projects and has a proven business model even before launching its token.
| Core Services | DePIN orchestration, node operation, buying/selling computing resources |
|---|---|
| Reasons to Watch | Impressive testnet statistics, fourth-highest DePIN revenue, and a viable business that doesn’t need a token to survive |
2. Render Network – DePIN Video Rendering Solution
Render Network connects unused GPU hardware to those looking for cost-effective rendering services. It boasts seamless integration with popular 3D applications and offers competitive pricing.
Why Render Is Worth Watching
With extensive growth and integration into creative software, Render could become a leader in on-demand rendering solutions.
| Core Services | Buy and sell GPU resources for rendering |
|---|---|
| Reasons to Watch | Consistent updates, RenderCon, increasing demand, and room for price growth |
3. Akash Network – A Pioneering Cloud Computing Marketplace
The Akash Network is a decentralized marketplace for computing resources, allowing users to deploy projects independently and efficiently. It has shown substantial growth, more than tripling fee revenue recently.
Why Akash Is Worth Watching
Akash is rapidly gaining traction, providing significant savings over traditional cloud platforms with ongoing projects and upgrades.
| Core Services | Buy/sell computing resources, deploy applications |
|---|---|
| Reasons to Watch | Fee revenue increasing, consistent updates, and Akash 2.0 |
4. Io.net – Providing On-Demand GPU Access
Io.net focuses on decentralized GPU access, allowing users to rent out unused resources. It employs market-driven pricing for cost-effective and scalable solutions.
Why Io.net Is Worth Watching
With rapid growth and strong partnerships, Io.net is expanding its use cases significantly.
| Core Services | Buy GPU resources, sell processing power, integrate AI services |
|---|---|
| Reasons to Watch | Solid growth statistics and expanding partnerships |
5. Storj – Alternative Decentralized Storage System
Storj provides decentralized cloud storage, enabling users to earn rewards from unused resources while businesses benefit from significant cost savings.
Why Storj Is Worth Watching
With rapid growth in new services and strong statistics, Storj is a project to watch as businesses seek cost-effective cloud solutions.
| Core Services | GPU cloud network, decentralized storage |
|---|---|
| Reasons to Watch | Strong growth metrics and expanding service offerings |
Final Thoughts
The demand for Decentralized Physical Infrastructure Networks (DePINs) is growing quickly. DePINs enhance efficiency, reduce costs, and decentralize control, making them vital in addressing future infrastructure challenges.
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