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Dmitry Zhelezov, CEO of Subsquid, suggests that DePINs could be instrumental in connecting blockchain innovations with real-world physical needs.

In Brief

According to Dmitry Zhelezov, the CEO of Subsquid, the increasing relevance of DePINs is helping tackle various challenges faced by industries, from transportation all the way to retail.

Subsquid's CEO highlights that DePINs are set to connect the digital world with physical infrastructure needs.

Decentralized Physical Infrastructure Networks (DePIN) are revolutionizing the physical infrastructure sector, standing on the brink of an exciting new era. With an enormous market potential valued around $2.2 trillion, expected to grow even more by 2028, the future looks exceptionally bright for DePINs, according to an analysis from Messari. $3.5 trillion DePIN operates through a collective effort from contributors who build and maintain essential infrastructure. Unlike conventional models, these networks are open to anyone who agrees to follow the established rules, offering a level of flexibility that allows for scalability based on demand.

Moreover, the pricing structure is not influenced by monopolistic entities but is instead determined through direct exchanges among individuals, which is anticipated to offer a more economical alternative. DePIN Dmitry Zhelezov explained that the number of IoT devices is skyrocketing, with projections estimating that by 2030, there could be three devices for every person. He believes that DePIN could provide a solution for the pressing demands of edge computing and scalability, ensuring that data control remains with the users, rather than being dominated by a handful of corporations.

Zhelezov further elaborated that the growing computing power required for model training is another factor driving the need for DePIN. By utilizing idle resources, such as computing power and bandwidth, DePIN allows for remote access, leading to significant cost savings compared to traditional centralized systems as more projects progress in their development.

Launched in 2021, Subsquid serves as a data network tailored for blockchain platforms and positions itself as a Web3 data hub. Subsquid DePIN Unlocks Practical Uses Across Multiple Sectors

Zhelezov from Subsquid mentioned that they are currently working on incorporating Solana data into their data lake, aiming to support builders within the Solana ecosystem. Many developers are navigating a challenging landscape where archival nodes vary significantly from other systems, underscoring the need for a more efficient integration. LLMs The tangible applications of DePIN are making waves across various industries. Zhelezov pointed out that several prominent DePIN initiatives have emerged notably in the Solana ecosystem. One such project involves equipping drivers with cameras to produce more accurate and recent world maps compared to Google Maps, making it particularly relevant for navigation and automated driving applications—an industry poised for substantial growth.

In the retail sector, Helium is leveraging its LoRaWAN network alongside physical Helium hotspot devices to deliver mobile services. With thousands of community participants, Helium stands as a decentralized option that competes against traditional providers. Additionally, Filecoin utilizes proofs on top of IPFS to manage a decentralized storage network, enabling secure data storage mechanisms.

Dmitry Zhelezov remarked, 'The strength of blockchain lies in its promise of openness and accessibility of data. However, we noticed that developers faced hurdles in effectively accessing vast quantities of data when deploying their dApps at scale and affordably. This realization is what drove us to create Subsquid, aimed at empowering developers while minimizing obstacles related to data access and associated costs.'

'We truly believe in the transformative power of decentralized infrastructure and the pivotal role that blockchain can play in bringing together community incentives. Subsquid is our contribution towards realizing a vision for a more open and decentralized Internet, acting as a data provider firmly committed to the principles of decentralization and transparency,' he stated. Ethereum DePINs offer a striking opportunity to make infrastructure access more equitable and to empower diverse communities to adapt rapidly to changing requirements. Nonetheless, similar to any infrastructure-related venture, challenges persist regarding balancing operational expenses with the incentives for operating DePIN technologies, as well as gauging the actual demand for the resources that DePIN seeks to utilize.

Achieving widespread adoption hinges significantly on fostering trust in the dependability and effectiveness of these networks. Trust is a pivotal issue that continues to challenge the cryptocurrency sector as a whole. Hivemapper As we shift towards modular solutions, we anticipate a rise in fragmentation that could limit projects from gaining the visibility they need to attract a suitable audience,' explained Zhelezov. 'Ultimately, the trust in these networks' capabilities will be crucial to facilitate their broader adoption.'

Please acknowledge that the information shared on this page is not designed to serve as—and should not be interpreted as—legal, tax, investment, financial, or any type of advisory guidance. It's essential to only invest what you can afford to lose and seek independent financial consultation if you're uncertain. For further details, we recommend reviewing the terms and conditions along with the support resources offered by the issuer or advertiser. MetaversePost strives for accuracy and impartial reporting, but market conditions may alter without prior notice. cryptographic Kumar is a skilled tech journalist specializing in the vibrant intersections of AI/ML technologies, marketing innovations, and dynamic fields like cryptocurrency, blockchain, and NFTs. With more than 3 years in the industry, Kumar has built a notable reputation for crafting engaging narratives, conducting in-depth interviews, and producing insightful reports. His expertise lies in creating impactful content, including articles, studies, and research outputs for leading industry platforms. Kumar's unique blend of technical acumen and storytelling capability allows him to convey intricate technological concepts to a wide range of audiences in a clear and captivating manner.

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This news was published on February 15, 2024, at 6:06 AM and was later updated on February 20, 2024, at 8:22 AM.

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Subsquid's CEO, Dmitry Zhelezov, asserts that DePINs have the potential to connect the blockchain ecosystem with tangible real-world requirements, as reported by Metaverse Post.
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Dmitry Zhelezov, the head of Subsquid, explained how DePINs are rapidly progressing to tackle issues across various industries, including both transportation and retail.