Decentralized physical infrastructure networks or DePIN are on fire. It is one of the hottest narratives in the current bull run. The DePIN vertical covers various areas, like infrastructure for data storage, computing, or energy. Projects in this space get lots of attention. The Sui blockchain also houses some promising DePIN platforms.

So, let’s take a closer look at the DePIN projects that you can find on Sui.

What Is DePIN?

As already mentioned, DePIN stands for Decentralized physical infrastructure networks. This means that DePIN projects supply these infrastructure networks. Of course, decentralized, and physical as well. In other words, these platforms offer a service. For example, GPU rendering. There are marketplaces for this, to accommodate demand and supply. So, if you render a service, you receive rewards in return.

This sets the DePIN flywheel in motion. That works like this.

  • Providers receive rewards for committing their resources.
  • Users pay fees for the offered services. This generates revenue.
  • DePIN services are cheaper compared to centralized services. For example, Akash is up to 60% cheaper compared to ASW, GCP, or Azure. Akash offers open cloud computing services. You can rent GPU on their marketplace.
  • This grows the network and the native token.
  • As a result, providers get higher rewards. 
  • This attracts investors and more providers.

Once this cycle starts repeating itself, the DePIN sector grows. Now the flywheel starts to take off. So, it shows the massive potential for DePIN projects. See the picture below.

Sui

Source: X

DePIN covers various sectors. Here are a few sectors it covers with some of its players. 

  • Geospatial — Locational services. For example, Hivemapper is building a crowdsourced map. 
  • Mobility — Manage vehicles or work together with companies. For instance, DIMO offers data management. Car owners and manufacturing companies can join and profit from this.
  • Storage — Offer storage solutions for digital data. For example, Arweave or Filecoin. 
  • Compute networks — Offering GPU to rent is popular. Projects like Akash or Render are big players in this field.

And Sui has some “up-and-comers” in this field. Now, we will look at DePIN projects on Sui.

Karrier One

Karrier One is all about online connectivity. The platform is building reliable and affordable connectivity. As a result, it doesn’t matter where you are. For example, Karrier One wants to address the following issues, and offer a solution for them.

  • A third of the world population is not connected.
  • In Canada, 17% of their population lives in rural areas. In the US, that’s 14%. These are remote locations without reliable, let alone affordable connectivity. 
  • The most expensive mobile data in our world is in America.

So, as you can see, lots of work at hand for Karrier One. To achieve this, they built on the Sui blockchain. This results in Karrier One’s decentralized network having various advantages. For instance,

  • Users have improved privacy and security.
  • It eliminates a single point of failure.
  • Other projects can develop and integrate their apps into the network.

All this comes together in the KONE DAO (Decentralized Autonomous Organization). By staking $KONE tokens, you can take part in the platforms’ governance.

Anyone can also set up a Gateway. These gateways provide affordable cellular access and allow you to earn. Currently, Karrier One is active in 3 countries, the United States, Canada, and Kenya. You can sign up within 2 minutes. Below is a video that explains how Karrier One works.

Chirp

Chirp is active in DeWi or decentralized wireless. Their mission is to build a global decentralized telecom network. Currently, it’s already active on 5 continents, 33 countries, and 206 cities. See their explorer. It provides both a global IoT and mobile solution. Chirp uses blockchain for security and AI to manage it all. Chirp offers 2 tools, with a third tool on its way.

  • The Blackbird — Their flagship IoT gateway. It runs the world’s first public 2.4GHz LoRa Network. LoRa is usually region specific. However, the 2.4GHz band range allows you to use worldwide frequency channels. To receive good coverage, set them up as high as possible with an unobstructed line of sight.
  • Cardinals — A 5G community owned miner. The ‘Keepers’ own and operate them. You can earn the $CHIRP token as a reward, by keeping the Blackbird online and verified.
  • A new mystery miner — This should take crypto where it has never gone before.

Its $CHIRP token will have a supply of 300 million and is deflationary. To get access to the network, you will need to buy a non-transferable Access Badge, an NFT. There will be various kinds of access available. For instance, monthly subscriptions or pay-per-data options.

Conclusion

DePIN is one of the most promising verticals in this bull run. Sui is positioning itself as one of the blockchains that supports DePIN projects. Two samples are Karrier One and Chirp. We take a closer look at both platforms and explain what they are about. So, in case you missed out on other DePIN projects, Karrier One and Chirp don’t have tokens yet. You may want to keep an eye out on them.

Coins

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 accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of 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 Sui.

Copyright Altcoin Buzz Pte Ltd.

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