What are the categories of DEP? Will DEP explode in 2025? What other DEP projects are worth paying attention to recently?

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These days, I have read some information about DEP again, combined with references. IoTeX Some data reports, let’s share some content about this today. Today’s article will be divided into four parts: a brief introduction to the concept of DEP, the four categories of DEP and their corresponding project lists, the DEP project situation in different blockchain networks, and several DEP market values worth paying attention to recently.

DePIN (Decentralized physical infrastructure) directly translates to decentralized physical infrastructure. This concept was born in 2022 when Messari, a blockchain data research institution headquartered in New York, released a survey to solicit an official title for ‘Web3 physical infrastructure’. In this collection, titles such as Physical Proof of Work (PoPw), Token Incentivized Physical Network (TIPIN), EdgeFi, and Decentralized Physical Infrastructure Network (DePIN) were all options. Ultimately, DePIN emerged as the winner in the vote and began to attract attention from some people.

The biggest difference between DePIN and traditional networks (such as mobile networks, Alibaba Cloud services, etc.) is that DePIN uses tokens to initiate the deployment of physical infrastructure, leveraging blockchain technology to build and operate real-world physical infrastructure and hardware networks in a permissionless, trustless, and programmable manner, creating large-scale network effects and unlocking various innovative DApps based on real-world data.

What blockchain networks are the current projects under the DePIN concept mainly built on? There are mainly 4, which are Solana、 Polygon、 Ethereum IoTeX.

Next, let’s continue to share with you the market value of several DEP projects based on the previous article:

The first project is Krest (currently valued at $15 million).

Krest is the canary network of peaq network, and it is also the first IoT economic simulation network. It aims to promote innovation and experimentation within the Peak ecosystem, allowing the Peak community to launch dApps and tools to assess their impact without considering real-world risks.

Canary Network (also known as Canary Network) is a common term in the field of blockchain and network security. This concept originates from the practical application in the mining industry. When toxic gases appear in underground mines, canaries emit warning calls due to their extreme sensitivity to gases, reminding miners to evacuate in time. In the field of digital encryption, canary networks are similarly used for early detection and warning of network risks.

The project token is mainly used to pay for the costs, economic incentives, and rewards of community plans, such as connecting machine simulation devices.

The second project is Cere Network (currently valued at $25 million)

Cere is a blockchain-based customer relationship management ecosystem, focusing on decentralized data cloud, optimizing service data integration and collaboration. It is also Polkadot Part of the Cosmos Alliance.

The third project is Cudos (CUDOS, currently valued at $65 million)

Cudos is a decentralized blockchain network that provides scalable cloud computing resources for Web3 developers and businesses, such as virtual machines for running dApps and AI workloads. They also offer a highly scalable and cost-effective network with high bandwidth, as well as cross-chain and multi-chain capabilities.

65% of the maximum token supply of the project has currently entered circulation. The token was launched in January 2021, and it will be fully released within 10 years.

The fourth project is Wicrypt (currently valued at 11 million US dollars)

Wicrypt is a decentralized network consisting of routers (micro-nodes running on a dedicated Wicrypt operating system) and connected clients (such as mobile phones, computers, smart TVs, smartwatches, and IoT devices), allowing users to share mobile internet and earn from it. It acts as a virtual internet service provider, enabling users to control their own data. Users can purchase supported routers, install Wicrypt firmware, and create Wi-Fi zones. Others can connect and access the internet within range.

Currently, 17% of the total token supply of the project is in circulation.

The fifth project is XYO Network (currently valued at 84 million dollars)

XYO is a blockchain for verifying data, which includes a set of blockchain standards and established rules for managing the ecosystem and its structured data. Its core technology is the Core Modules, which are essentially an account or wallet with sovereign classifications, consisting of four core components: Sentinels (data collection component), Bridges (data tran_script_ion component), Archivists (data storage component), and Diviners (component for aggregating answers).

The project token is mainly used as payment for services on the XYO platform, as well as rewards for users who provide data or services. It is currently 100% in circulation.

The sixth project is DIMO Network (currently valued at 46 million US dollars)

DIMO is an IoT platform that allows users to store and selectively share their data. It enables drivers to collect and utilize data about their vehicles for profit. Developers and data users can access this data to improve existing businesses and create new applications.

In addition, it also allows companies such as Geico (the fourth largest auto insurance company in the United States), Tesla, Ford, Autozone (the second largest auto parts chain brand in the United States), etc., to issue verifiable credentials for safety applications.

Currently, 15% of the total token supply of the project is in circulation.

In short, the emergence of blockchain technology seems to have already or will change some industries, such as the well-known financial industry (DeFi), gaming industry (GameFi), collectibles industry (NFT), etc., but all of this requires support from infrastructure. Compared to the current popularity of NFTs, DEP has not received much attention, but we believe that DEP has the ability to seamlessly integrate into the real world, break the monopoly of large companies, and promote innovation, which will lead to its huge expansion potential.

Not to mention anything else, the total market value of the top ten cloud companies globally is currently about 5 trillion US dollars, as shown in the figure below. If Web3 companies can capture a small part of this market, their valuation can reach hundreds of billions of dollars (the total market value of all encrypted projects in DEP is currently 11 billion US dollars).

So, the DePIN concept may attract a lot of attention and generate significant profits in the next 6-18 months. It is worth paying attention to and understanding in advance. However, it is important to remind that regardless of the field or project, always remember the associated risks.