Decentralized Physical Infrastructure Networks (DePIN) is the name of blockchain networks that use tokens to incentivize communities to build physical infrastructure networks: mobility, electric vehicle charging, telecommunications, etc. from scratch. The industry has been around for years, but consensus around a name has sparked a unified understanding that now is the time for Web3 to shine in the real world.
DePIN is the Frodo Baggins of crypto. Unpretentious, even endearing at first glance. But it comes with the potential to unite the most promising areas of Web3; Internet/Economy of Things, energy, telecoms, and mobility, behind a term. With a DePIN, you also want the token because it buys you something tangible like electricity, telecom services, web or data access, etc., or is used to govern the network that allows you to purchase these tangible goods. Yes, it's essentially utility and governance tied to real-world processes and needs.
DePINs use blockchain and tokens to create and encourage the deployment and use of value-creating physical infrastructure. DePINs rely on a decentralized network and community, not a centralized backend and enterprise, for transactions and business logic. They are created to provide real value.
Future DePIN-focused features will also include data verification tools, which is important when working with third-party third-party devices, and geolocation oracles. For entrepreneurs and founders, this business model effectively opens a new path to a market that would otherwise have been nearly impossible to break into.
Syntropy could have potential in DePIN, in the way Syntropy Explorer, monitors blockchain transactions, and tracks registered dApps, feed subscriptions, and tokens. Because this turns out to be important for the decentralized physical infrastructure network (DePIN). This could be an essential DePIN for Web3 to move forward.
With an approach that Syntropy takes on its data layer, this could be a useful element to streamline the way we interact with on-chain data.
DePIN is at the heart of Syntropy’s decentralized infrastructure for on-chain data. It is an open data ecosystem by bridges the gap of a native Web3 connection between dApps and blockchains. With the aim of providing DePIN solutions for the Web3 space.