Decentralized Physical Infrastructure Networks (DePINs) represent a pioneering trend in the realm of cryptocurrency. These networks harness the capabilities of blockchain technology to fundamentally transform the development and functioning of physical infrastructure and hardware networks. This article is all about the top 5 DePIN coins with 20x potential in 2024.
Functioning in a permissionless, trustless, and programmatic manner, DePINs hold the promise of heightened efficiency, transparency, and democratization in the field of infrastructure management.
DePIN, an abbreviation for Decentralized Physical Infrastructure Networks, embodies an innovative crypto trend that capitalizes on blockchain technology to revolutionize the creation and functioning of physical infrastructure and hardware networks.
Operating in a permissionless, trustless, and programmatic fashion, DePINs show great potential in transforming the landscape of constructing and overseeing physical infrastructure. Even in its early stages, DePINs offer the prospect of heightened efficiency, transparency, and democratization in this domain.
Top 5 DePIN Coins
1. Coldstack (CLS)
ColdStack stands out as a Decentralized Cloud Aggregator, marking a groundbreaking milestone as the world’s first service to consolidate Decentralized Data Storages, including notable platforms like Filecoin. Offering unparalleled speed, simplicity, and user-friendliness, ColdStack provides a swift avenue for harnessing the capabilities of Decentralized Clouds, catering to projects within the crypto space and extending beyond.
Through the optimization of storage solutions via its AI-driven pipeline, ColdStack presents users with the most cost-effective and secure means of file storage. The platform’s approach is characterized by transparency, immutability, and cryptographic verifiability, ensuring a reliable and trustworthy environment.
ColdStack’s distinguishing feature lies in its seamless integration of all Decentralized Data Storages on a unified platform, eliminating the need for data migration when transitioning between various Decentralized Clouds. This streamlined approach enhances user convenience and efficiency in managing decentralized storage solutions.
2. Quantum Resistant Ledger (QRL)
The Quantum Resistant Ledger (QRL) distinguishes itself as a ‘fully quantum-resistant blockchain network, employing PQ-CRYPTO recommended/IETF standardized cryptography.’ Unlike numerous other blockchain projects that rely on the potentially vulnerable ECDSA (Elliptic Curve Digital Signature Algorithm), QRL adopts a hash-based eXtended Merkle Tree Signature Scheme (XMSS). This strategic choice is made to address the susceptibility of ECDSA to quantum attacks.
The QRL project emphasizes the security of its platform, bolstered by the utilization of PQ-CRYPTO recommended and IETF standardized cryptographic techniques. In addition to its resilient cryptographic foundation, the QRL ecosystem includes a suite of applications and a development framework.
This comprehensive approach enables users to easily construct blockchain applications within a provably quantum-resistant network. By integrating these elements, the Quantum Resistant Ledger aims to fortify its position as a secure and forward-looking solution in the face of potential quantum threats to conventional cryptographic methods.
3. Hivemapper (HONEY)
Introduced in November 2022, Hivemapper (HONEY) represents a decentralized global mapping network that incentivizes contributors for gathering substantial amounts of 4K street-level imagery using dashcams, following a Drive-to-Earn model.
The primary devices for acquiring imagery are 4K Dashcams, equipped with both a camera for recording street-level visuals and a blockchain mining device. Participants operating these dashcams engage in mining activities, subsequently earning rewards in the form of Hivemapper’s native cryptocurrency token, HONEY. This innovative approach creates a symbiotic relationship where users contribute to the mapping network while being duly compensated in the platform’s digital currency.
4. MXC (MXC)
Established in 2018 as a non-profit organization, MXC is driving transformative changes in the AI and Blockchain sectors by collaboratively constructing a free and decentralized global data network.
At the core of the MXC Data Network lies a resilient mining community and the collective strength of the extensive MXC supporter base. Through the utilization of the groundbreaking Low-Power Multi-Token Miner, notably the M2 Pro Miner, participants interconnect and cultivate the world’s largest Low-Power Wide-Area Data Network within the Metaverse.
MXC introduces the Meta X Protocol (MXProtocol), a pioneering protocol grounded in Proof of Participation mining principles. Leveraging LoRaWAN technology, it establishes a global data republic network tailored for real-world adoption. This protocol serves to empower Web 3.0 and a blend of mixed reality metaverse infrastructures, simplifying and amplifying data transmissions and participation.
The utility token Meta X Connect ($MXC) facilitates increased data transaction frequency and unique data flows within the AI and blockchain markets. The MXProtocol ensures the creation and connection of networks through a decentralized and robust protocol, employing an interchain data market that incentivizes participation via Proof of Participation “PoP” Mining.
This mechanism also enables the cost-effective provision of tangible Internet of Things (IoT) devices, establishing a framework for data providers and receivers to generate GDPR-safe AI and blockchain NFTs. MXC’s comprehensive approach marks a significant stride towards fostering a decentralized, participatory, and secure global data ecosystem.
Precipitate.AI (RAIN)
Precipitate stands as the inaugural IaaS (Infrastructure as a Service) protocol positioned at the convergence of AI and public Blockchains. Functioning as a Distributed Virtual Private Server provider, Precipitate serves as a foundational platform for the synergy between Web3 and AI. Users can swiftly deploy a Raindrop, an AI-optimized Virtual Private Server seamlessly interfacing with EVM Blockchains, to initiate and manage a Virtual Private Server.
Payment dynamics for infrastructure services, including hosting, prioritize Web3 native currencies over conventional credit/debit card transactions. The native token, $RAIN, serves as the Precipitate Protocol Infrastructure Token. When dApps are deployed on Precipitate and payments are made in $RAIN, they gain preferential access to AI processing power, data rendering, computation, storage, and bandwidth.
Furthermore, dApps paying with $RAIN benefit from advanced Blockchain read/write access as a complimentary feature. As $RAIN is deemed a public infrastructure good, it is distributed openly on the market. This distribution model enables enterprises and individual clients to empower their Distributed Apps at the intersection of Artificial Intelligence and Web3, solidifying Precipitate’s role in advancing the capabilities of decentralized applications.