Decentralized Physical Infrastructure Networks (DePIN) have existed for several market cycles. The first wave of DePIN was in 2019 and focused on digital infrastructure. However, now we’re seeing a rise in projects centered on data and service networks. This year is expected to be a turning point in the evolution of DePIN. This article will help you understand why DePIN is capturing the attention of Web3 users.
DePIN’s Demand and Supply
To understand the significance of DePIN, it’s essential to look into both the demand and supply sides of the market. On the demand side, users search for services or products that solve specific issues such as high costs, low security, slow processing times, and limited connectivity. DePIN projects meet these needs on the supply side by addressing these user needs with a range of solutions. They provide essential infrastructure such as nodes, hardware, and devices designed to enhance the overall user experience.
According to data from Messari and DePIN.Ninja, there are currently 650 DePIN projects spanning a wide range of sectors, including computing, AI, wireless technologies, and so on. Messari estimates the potential market size for DePIN at approximately $2.2 trillion, with projections suggesting it could reach $3.5 trillion by 2028. This growth reflects the growing influence and adoption of DePIN solutions across different industries.
Why DePIN is needed?
Without DePIN, users would miss out on the flexibility and potential cost savings that come with shared resources. Centralized control would continue to keep power in the hands of a single authority, whether government or corporate. In the absence of DePIN, service providers may face less competition and pressure to keep costs low, potentially leading to higher prices for users. Companies would focus on more profitable areas, and restrict access to less profitable sectors.
Meanwhile, DePIN offers a wide range of benefits to users. Its decentralization reduces dependency on central authorities, thereby enhancing transparency. Thanks to the token-based reward system, users are encouraged to become more involved in the network-building process and contribute to creating a self-sustaining ecosystem. By streamlining operational processes, DePIN achieves cost efficiency, optimizes resource allocation, and significantly reduces administrative costs. It also enables individuals to contribute resources, making participation accessible to all. Lastly, the network’s scalability allows it to effortlessly expand while maintaining smooth operation as demand grows. All these features come together to make DePIN a dynamic and effective solution for current network demands.
Roam: A Rising DePIN Project in 2024
Standing out among various DePIN projects, Roam is a leading example of how DePIN can offer interactive and rewarding experiences. Roam is a global decentralized WiFi network that enables users to automatically and securely connect to more than 3.5 million OpenRoaming™. By leveraging blockchain technology like Decentralized Identifiers (DIDs) and Verifiable Credentials (VCs), Roam provides users with full control over their identity and personal information while connecting to WiFis.
To motivate users to contribute to the network, Roam has developed a dynamic and engaging reward system. Users can earn Roam Points by adding WiFi spots, checking in, and referring friends. These Roam Points can later be converted into $ROAM tokens once listed. This incentivization strategy not only encourages users to share their resources but also provides them with long-term benefits.
In addition to its software offerings, Roam provides its own hardware products, including the Roam Rainier MAX60 and the Access Point Baker MAX30. These devices are designed to enhance connectivity and performance, generate rewards, and support the global decentralized WiFi network that Roam operates. The Roam Rainier MAX60 offers advanced features such as high-speed connectivity, massive WiFi capacity, and uninterrupted roaming, while the Access Point Baker MAX30 provides high coverage and a strong WiFi signal to every corner of your house.
Roam’s app is now available on both iOS and Android platforms, making it easy for users to download and experience seamless WiFi connectivity. By offering both hardware and software solutions, Roam aims to deliver a smooth and secure internet experience, ensuring that users can connect effortlessly to the vast network of OpenRoamingTM access points worldwide.
Conclusion
DePIN’s innovative approach is transforming traditional infrastructure management models, paving the way for more flexible, cost-effective, and transparent solutions. By embracing DePIN and exploring Roam’s offerings, you can be at the forefront of this exciting evolution in the Web3 landscape.
