Despite the rough start to July, one of the sectors still going strong with great fundamentals is DePIN. It’s a sector we love and cover quite a bit here at Altcoin Buzz. But today, we are not going to talk about DePIN projects we love.
Today, we are talking about something all DePIN projects need. Privacy. Decentralization is great. However, many people are not going to sacrifice the privacy of their data to an open, public blockchain. They just aren’t. And this altcoin knows this. With their DeCC service, DePIN can protect all network data at the user level. So you decide what to disclose. Today, why do DePIN projects need Secret Network’s DeCC? And why does being bullish on DePIN mean you are bullish on Secret, too?
DeCC Protects User Data
Secret Network’s DeCC gives DePIN projects what they need to succeed. Today, we are going to use as an example, one of our favorite DePIN projects, Akash. Akash is at the intersection of DePIN and AI. People sell or rent their GPU computing power to the network so AI projects can use them to improve LLM models or render images. DeCC is important for Akash because it protects user data. In this case, the user data can be:
- You giving your CPU computing power to the network.
- You as the AI project, are renting GPU power from Akash for your new app.
- OR BOTH.
Source: X
If you are giving your own excess GPU power to Akash, do you want that to be public? GPUs cost a lot of money. And if you are in the rare position of having more computing power than you need, then you could become a target.
First, your wallet could be a target for hackers. Second, you could become a target if someone can connect you to your wallet. As you can see here, there is a need for more trustlessness in DePIN. Akash makes its payments in its native $AKT token. So anyone can see which wallets are receiving tokens in any of the Cosmos-based block explorers.
Is that what you want? Do you want everyone to see your payment data and history? Or is this something you wish was more private? With DeCC, you can decide. Then let’s look at the other side.
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A new project is likely to rent GPU space rather than go and make the huge tech investment before they know if their project will ever go live or make money. Many altcoins like to be built in stealth. Projects do this so you don’t see all the iterations they have to go through. That plus all the early mistakes they make that might make you lose confidence in the project.
It’s like the famous saying of not seeing how the sausage is made. If you did, you’d never buy it. But if you get someone good with a block explorer, they could expose the project as being an Akash customer. It could be LONG before they are ready to go public about the project. Look at this on ATOMScan, some of these blocks have only one or two transactions in them. That makes it easy to track them. Projects DO NOT want this. They want to go public only when they are ready.
Source: ATOMscan
With DeCC, they can protect the privacy of their project’s earliest stages. And they can wait until they have a better working model before showing the public. This is a better launch strategy for many obvious reasons.
And we’ve seen a lot of testnet and mainnet launches here at Altcoin Buzz. Some have been excellent. Most have been ok or decent, and some have been awful. The awful ones always leave users apprehensive about the project and the project rarely ever achieves its stated goals.
DeCC Protects Collected Data
Then we have the other side of the equation. DeCC protects the data that DePIN projects collect. Again, let’s use Akash. One area of big concern in AI is the centralization of our data AGAIN in the hands of OpenAI or Claude. Once our data is public and out there, their LLM or large language models can find them and use them however they want.
Source: X
This leads crypto and AI to work together for decentralized AI solutions. With decentralized AI, you control who accesses your data and whether you want to monetize it or not. So new project XYZ is using Akash to rent GPU space while it builds out its model. They are building a general model to be an OpenAI competitor. They are thinking past what ChatGPT 4.0 or 5.0 would be. The project wants to move general models far ahead and they have the skills to build it.
OpenAi is closed-source and proprietary. Microsoft owns it. They aren’t sharing anything. So why would new project XYZ want to share its data and its model publicly with OpenAI or other competitors? They don’t.
Source: X
But without a solution like DeCC, the collected data in a DePIN COULD be public just like transaction hashes and data are public in any public blockchain. It doesn’t take much to see this would be a huge disadvantage for new projects using DePIN to help build out and experiment with their new models. DeCC here is true Intellectual Property protection for the project. And at the beginning, IP and data are all a project has. What’s your favorite DePIN project right now? Let us know in the comments below.
DeCC Gives DePIN Exactly What It Needs
You can see whether you are using a DePIN project to earn some extra money. Or, using it for decentralized access to resources your project needs. DeCC gives DePIN projects exactly what they need. Many of you, and us too, believe that some added privacy is necessary for wider-scale global adoption anyway. DePIN projects are providing the valuable service of taking things like:
- File Storage.
- Computing Power.
- Website Bandwidth space, and more.
Out of the hands of the big guys like Google, Amazon, and Microsoft. Adding this element of some privacy, at a level that you choose, makes them an even better competitive option than the legacy options available. If you are high on DePIN projects as we are here at Altcoin Buzz, then Secret Network and its DeCC are a good way to show your support for these projects. You can also take part in their growth going forward.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Secret Network. Copyright Altcoin Buzz Pte Ltd.