DePIN Landscape 2024 and How Swan Fits into the Picture
DePIN, short for Decentralized Physical Infrastructure Network, is an emerging sector in Web3. It serves as an umbrella term for various projects that aim to decentralize the physical layer of the internet, such as data centers, edge computing, networking, storage, and energy. DePIN projects leverage blockchain technology, token economics, and peer-to-peer protocols to create a more resilient, efficient, and inclusive internet infrastructure.
In this blog post, we will explore the DePIN landscape in 2024 and how Swan, our project that enables decentralized cloud computing, fits into the picture.
Why DePIN Matters
The internet is one of the most powerful and transformative technologies in human history. It has enabled unprecedented levels of communication, collaboration, innovation, and access to information. However, the internet also suffers from some fundamental flaws that threaten its future.
One of these flaws is the centralization of the physical infrastructure that supports the internet. The majority of the internet’s data centers, servers, routers, cables, and power sources are owned and controlled by a few large corporations and governments. These centralized entities have the power to censor, manipulate, monitor, and exploit the data and users that rely on their services. They also create bottlenecks, inefficiencies, vulnerabilities, and environmental costs that hamper the performance and sustainability of the internet.
DePIN projects aim to address these issues by creating a more distributed and democratic internet infrastructure that empowers users and communities to own and operate their own physical nodes.
- Blockchains: are the foundation of the DePIN landscape. They provide the consensus, security, and governance mechanisms that enable decentralized coordination and collaboration among the network participants. E.g. Swan Chain, BNB Chain and Optimism.
- DePIN modules: are the building blocks of the DePIN landscape. They provide the essential services and tools that enable users to interact with the decentralized internet infrastructure. E.g. Phantom (wallet), Filecoin (storage), World ID (identity).
- Digital resources: are the assets of the DePIN landscape. They represent the physical resources that power the decentralized internet infrastructure. E.g. Swan Compute (compute), Multi-Chain Storage (storage), and Lagrange (AI).
DePIN projects are interconnected and interoperable, creating a rich and diverse ecosystem that benefits the users and communities. For instance, Swan leverages Optimism’s infrastructure to enhance blockchain interactions, ensuring scalability and security in decentralized computing. Its partnership with Filecoin reinforces its commitment to secure and efficient data management within the DePIN framework.
DePIN Landscape in 2024
According to a report by Messari, DePIN’s market cap has soared by $3 billion in three weeks, with the Compute sector leading the growth. This is due to the synergy between DePIN and AI, which boosts innovation.
Looking into 2024, the DePIN landscape is poised for further expansion. Messari’s report forecasts that DePIN could reach $3.5 trillion by 2028, showing its huge potential. Coinbase’s report also highlights DePIN as a key theme for 2024, as it can disrupt existing paradigms with blockchain technology.
How does Swan Fit into DePINs?
In this DePIN landscape, Swan emerges as a unique project offering decentralized computing and data storage solutions. It aims to lead the DePIN revolution by addressing the urgent needs and gaps in the current infrastructure.
Swan has three main components: Swan Chain, Swan Compute, and Swan Ecosystem.
Swan Chain
Swan Chain is a layer 2 AI computing blockchain built on OP Stack that enhances the efficiency, affordability, and accessibility of Web3/ AI applications. It offers a suite of tools and services that enable easy access to decentralized computing resources across multiple blockchains, supporting greater interoperability and flexibility.
Through bridges and cross-chain communication protocols, Swan Chain allows seamless interaction with other blockchain networks, reinforcing its role as a versatile and integral part of the DePIN landscape.
Swan Chain is preparing to launch its testnet in the first quarter of 2024. The testnet will allow users to experiment with the features and functionalities of the Swan Chain. We will reveal more details about the testnet launch soon.
Swan Compute
Swan Compute is a decentralized computing platform that allows users to rent out or use idle computing resources, such as CPU, GPU, RAM, and disk space. It operates on a peer-to-peer network, connecting providers and consumers of computing power, creating a market-driven environment where terms and prices are determined through smart contracts.
Swan Compute allows users to rent out or use idle computing resources
By incorporating edge and fog computing technologies, Swan Compute effectively reduces latency and bandwidth consumption, optimizing the overall performance of decentralized applications.
Swan Ecosystem
The Swan Ecosystem is a collection of decentralized services and applications built on Swan Chain and powered by Swan Compute.
This ecosystem showcases the full potential of DePIN projects, offering a diverse range of applications that leverage decentralized computing and storage solutions. The Swan Ecosystem represents a practical realization of the DePIN vision, where various decentralized services work harmoniously to create a more democratic and efficient internet infrastructure.
Some prominent applications on Swan Ecosystem are:
Lagrange: A decentralized computing platform that allows web3 developers to securely store and deploy code. By integrating with Chainlink CCIP, Lagrange facilitates cross-chain communication for web3 apps. Moreover, Lagrange provides a full suite of web3 tools for building and testing web3 apps in a single environment.
Multi-Chain Storage: A cross-chain data storage solution for web3 projects or users to store data on IPFS and Filecoin with ease. MCS uses decentralized storage, stablecoin payment, oracle technology and smart contract to build a more fair and decentralized web.
Conclusion
Swan fits into the DePIN landscape as one of the leading projects that offer a comprehensive and integrated solution for decentralized physical infrastructure. By combining blockchain, computing, storage, and innovative technologies, Swan aims to create a more democratic, accessible, and scalable Web3 infrastructure that can support various use cases and applications in the future.
Don’t miss this opportunity to join the Swan community today!
Website: https://www.swanchain.io
Twitter: https://twitter.com/swan_chain
Telegram: https://t.me/swan_chain/
Discord: https://discord.gg/swanchain
LinkedIn: https://www.linkedin.com/company/swancloud
