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What’s New in DePin? Helium Mobile Reaches 92,000 Subscribers, Over 1,200 Projects Flourish, io.net CEO Steps Down

Decentralized Physical Infrastructure Networks (DePin) are transforming the tech landscape by enabling decentralized projects in real-world infrastructure.

Here’s what happened recently in the DePin sector: io.net’s CEO stepped down just before their token launch, Helium Mobile reached over 92,000 subscribers, and the number of active decentralized physical infrastructure projects grew to more than 1,200.

CEO of io.net Steps Down

Solana-based decentralized infrastructure provider io.net, which allows users to monetize their GPU power, has recently replaced its CEO just two days before the launch of its native token on Binance Launchpad. The token launch, scheduled for Tuesday, June 11, is part of io.net’s ambitious plans to become the world’s largest AI computing network. Co-founder Ahmad Shadid stepped down immediately, and fellow co-founder and former COO Tory Green stepped in as his successor.

Io.net aggregates GPU resources to create a network offering machine learning startups affordable computing power, significantly reducing costs compared to traditional cloud services. However, io.net has faced heavy criticism.

Observers argue that io.net misled the community about its GPU capabilities and question why it sets prices instead of allowing compute owners to do so. Furthermore, a GPU metadata attack on April 28 caused active GPU connections to plummet from 600,000 to 10,000, exacerbating concerns about the network’s reliability and transparency.

Helium Mobile Crosses 92,000 Subscribers

Helium Mobile now has more than 92,000 subscribers, showing the rising interest in decentralized wireless networks. Helium’s model uses blockchain technology to reward users for setting up and maintaining wireless coverage, which has attracted a large community and expanded its network.

Every time a new subscriber signs up, an is minted, adding to the decentralized network’s appeal. Users can also earn MOBILE tokens by doing tasks like “Discovery Mapping,” where they share their location to help improve coverage. These tokens can pay for their phone plans or be traded for other cryptocurrencies.

Projects range from decentralized wireless networks to community-driven energy grids, showcasing the diverse applications of DePin technologies. The top five by market cap include Fetch.ai ($4.3 billion), ($3.56 billion), Filecoin ($3.3 billion), The Graph ($2.5 billion), and Arweave ($2.5 billion). 

Read more: Top 9 Web3 Projects That Are Revolutionizing the Industry

DePin Sector Market Capitalization. Source: depin.ninja

These developments point to a promising future for DePin, with rising user engagement and a growing number of active projects paving the way for decentralized solutions across various infrastructure sectors. Although DePin is still in its early stages and has several flaws, it enables the exchange of tokens between synthetic and real-world assets. This complements traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.

Top crypto projects in the US | June 2024
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 6/10/2024

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