Among various narratives gaining traction in the past few months, the Decentralized Physical Infrastructure Networks (“DePIN”) sector has emerged as a prominent focus due to their large total addressable market and extensive potential.
DePIN refers to infrastructure-related projects utilizing blockchain technology and crypto economics to motivate individuals to allocate their capital or unused resources towards creating a more transparent and verifiable network, with the goal of achieving a more efficient scaling trajectory than their centralized counterpart.
DePIN is a broad field made up of several sectors, each playing a different role in enabling the decentralization of network infrastructure. In this report, we cover developments in the fields of compute networks, wireless networks, storage, and sensors.
As the sector continues to develop, we expect a proliferation of DePIN projects in the coming years. However, their long-term viability and success will ultimately be determined through real-world applicability and remain to be battle tested.