IoTeX recently introduced a transformative approach in decentralized physical infrastructure networks (DePins) known as the Modular DePin Infrastructure.
This innovation aims to redefine the creation and functionality of Web3 technologies. Compared to traditional infrastructures, it offers a more efficient and cost-effective model.
How Modular DePin Infrastructure Solves the Pain Point of Startups
The surge in DePin startups highlights a growing interest in this technology. However, many face obstacles like limited funding and technical challenges, delaying their progress. To combat these issues, Modular DePin Infrastructure proposes a flexible, community-driven framework.
In a social media post, IoTeX outlined three major benefits of this modular infrastructure – it is cost-effective, allows the community to capture more value, and enhances collaboration. These ready-made modules resolve technical difficulties and also enable quicker and less expensive product launches. By decentralizing each module, the community retains greater value, strengthening the overall DePin ecosystem.
“That’s it! Modular DePin infra isn’t just efficient — it’s a catalyst for community empowerment and collaborative success,” Render Network said, supporting IoTeX’s views.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
This infrastructure allows for the assembly of customized applications through various modules. These include hardware abstraction, connectivity, sequencer, data availability, long-term storage, off-chain computing, blockchain, identity, and governance. Developers can select and combine these modules based on their project’s specific needs, providing unparalleled adaptability.
One of the core advantages of this system is its community ownership. Different teams develop and maintain each module, fostering a collective ownership model. This setup creates a marketplace where developers can choose optimal modules for their applications, encouraging a module-specific economy.
In an interview with BeInCrypto, Domenic Carosa, the co-founder of Hivello, discussed how modular DePin infrastructure focuses on community-driven development.
“Unlike traditional centralized models, this decentralized approach ensures that value and decision-making power are more evenly distributed. Community members have a direct stake in the network’s success, encouraging continuous innovation and fostering a more collaborative and sustainable ecosystem. This participatory environment allows community members to contribute to and benefit from the network’s growth, driving innovation and long-term sustainability,” Carosa told BeInCrypto.
Moreover, the modular system’s flexibility supports the development of a wide range of DePin applications. These include sensor networks that monetize physical data, connectivity networks that utilize various wireless technologies for bandwidth monetization, and computing networks that offer decentralized computing resources.
Applications of the Modular DePin Infrastructure
Significant DePin projects such as DIMO, Hivemapper (HONEY), and WeatherXM in sensor networks, as well as Helium, Nodle (NODL), and Wicrypt (WNT) in connectivity networks, exemplify the successful application of this modular infrastructure. Additionally, computing resources are efficiently monetized through platforms like Render Network (RNDR) and Akash Network (AKT), showcasing the broad utility of the modular approach.
The connectivity module, in particular, explores wireless communication techniques to enhance connections within Web3 networks. Technologies such as Bluetooth, LoRaWAN, WiFi, and 5G have been incorporated into various projects, expanding the capabilities of these networks.
Furthermore, NetMind CEO Kai Zou also discussed his favorite applications of the modular DePin infrastructure with BeInCrypto.
“Of particular interest to me is its proposed use of token-incentivized, community-built PRN and DRN goods and services, as this direction fully aligns with my belief in a movement away from centralized web systems that benefit select corporations to more equitable distribution models that benefit all,” Zou told BeInCrypto.
Read more: Render Token (RNDR): A Guide to What It Is and How It Works
Furthermore, the sequencer and data availability modules have been adapted from existing solutions to better suit DePin applications. Long-term storage solutions like Filecoin (FIL) and Arweave (AR) play a crucial role in meeting these applications’ storage needs. While blockchain platforms such as Ethereum (ETH), IoTeX, and Solana (SOL) provide essential infrastructure for development.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Be the first to comment