Top DePIN Projects on Solana Shaping the Future – Part 2

This is the continuation of this article. You can find the first part here.

Having explored some notable Solana depin projects, there’s still much more to discuss. This second segment delves into wireless networks, decentralized mapping, and other transformative projects.

Wireless Networks

1) Helium

Helium is at the forefront with its MOBILE Network, a decentralized 5G solution. It exceeds expectations, accounting for 90% of Helium’s overall revenue. With more than 965K subscribers, it has processed 27.1 TB of data.

Following HIP 130’s approval, Data-Only MOBILE Hotspots are now rewarded with $MOBILE for data transfers. September saw a significant spike in weekly Data Credits (DC) consumption, indicating the growing interest in its decentralized infrastructure.

The Helium v3 proposal has arrived!

Helium v3 represents a groundbreaking shift for Helium, empowering additional DePIN initiatives to scale and join the world’s largest decentralized physical infrastructure network.

Explore the introduction of the Helium Network Extension, which… pic.twitter.com/4TDnwuzSWr

— Helium (@helium) September 13, 2024

2) Dabba Network

Dabba Network is revolutionizing India’s internet landscape by rolling out affordable, high-speed WiFi networks in underserved regions. With 1,600 WiFi hotspots deployed, they are working to improve internet accessibility.

Currently, 29,000 devices connect through these hotspots, with plans to engage 150,000 local cable operators in the initiative.

Season 2 is OFFICIALLY LIVE!!

We’re expanding the Dabba Network tenfold with 10,000 hotspots available.

Claim yours NOW https://t.co/g1bvagGhYW pic.twitter.com/TiGrJ214CS

— Dabba Network (@DabbaNetwork) May 24, 2024

3) DAWN

DAWN aims to decentralize wireless internet services by enabling users to share access in areas lacking traditional infrastructure. The service is affordably priced at under $10 per month and offers token holders 12% of on-chain revenue where they have invested.

After successfully testing with 3,000 homes in New York City and generating $1 million in revenue, DAWN is set to expand its coverage to 3 million U.S. households. They secured $18 million in a Series A round led by Dragonfly Capital along with several notable investors.

We’re excited to share our $18M funding round led by @dragonfly_xyz!

A huge thank you to our investors @6thManVentures, @wintermute_t, @paraficapital, @robotventures, @EV3ventures among others. () pic.twitter.com/nosPgLtPgx

— DAWN (@dawninternet) August 7, 2024

Mapping Networks

4) Hivemapper

Hivemapper is revolutionizing the mapping sector through decentralization. Users equipped with dashcams collect location data while driving, earning $HONEY tokens in return.

With contributions from over 150,000 drivers, they’ve mapped 15.7 million kilometers, encompassing 26% of the planet’s surface. Imagine turning your daily driving into a global mapping effort—Hivemapper makes it a reality.

Check out our improved map interfaces! We’re saying goodbye to hexes and introducing two dynamic maps on the Hivemapper website: the Network Coverage Map and Home Map

The Network Coverage Map delivers up to a year of coverage updates, refreshed daily. Brightness levels indicate how… pic.twitter.com/xhLVTex7ae

— Hivemapper (@Hivemapper) August 23, 2024

Challenges Facing Solana DePIN Projects

Here are several key challenges that Solana DePIN projects must tackle:

• Maintaining Token Incentives: Encouraging user engagement through token rewards can become expensive, causing financial strain if not managed properly.
• Community Overenthusiasm: While engaging the community is vital, excessive enthusiasm can have detrimental effects, creating unmet expectations.
• Compliance with Legal Regulations: DePIN projects must adhere to existing laws and regulations like any decentralized initiative.

Future Prospects

The Breakpoint 2024 conference is scheduled for September 21st in Singapore, focusing on Solana. This event is expected to play a significant role in shaping the future of DePIN on the Solana platform.

Breakpoint discussion: This house contends that DePIN is overvalued and lacks capital efficiency.

Arguing FOR: @stephensonhmatt of Pantera Capital

Arguing AGAINST: @abhay of Helium. pic.twitter.com/tJgLmKXqnq

— Solana (@solana) September 11, 2024

Final Thoughts

Solana DePIN projects are paving the way for the future. These initiatives address real-world challenges using decentralized infrastructure, spanning wireless networks to decentralized mapping. While there’s considerable excitement in the space, these projects must navigate their challenges and contend with other platforms.

Disclaimer

The information provided by Altcoin Buzz is not financial advice. It is intended for educational, entertainment, and informational purposes only. Any strategies or opinions expressed reflect the experience and risk tolerance of the writer/reviewer and may differ from yours. We are not liable for any losses resulting from investments made based on the information provided. Bitcoin and other cryptocurrencies carry high risks; therefore, please conduct thorough research. Copyright Altcoin Buzz Pte Ltd.

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