Solana and the DePIN Sector – A Winning Synergy
A recent report from Flipside highlights the rise of Render Network and Helium Network as leaders in the DePIN (Decentralized Physical Infrastructure Network) sector on the Solana blockchain. DePIN leverages decentralized community networks to improve the efficiency and resilience of infrastructures, notably in the areas of artificial intelligence and data storage. By encouraging decentralized services, DePIN paves the way for a multitude of uses within and beyond the Web3 ecosystem.
According to the Flipside report, Solana asserts itself as a leading platform for DePIN projects thanks to its high-speed transactions, reduced costs, and robust infrastructure. Garrison Yang, director of strategy and marketing at io.net, emphasizes: “DePINs heavily rely on community participation, as these are decentralized hardware networks. It is not surprising that many of these projects, including io.net, choose the fastest-growing ecosystem in crypto – Solana.”
Render Network: Pioneer of Decentralized GPU Rendering
Render Network positions itself at the forefront of decentralized GPU rendering, offering scalable and economical computing power for various applications such as artificial intelligence, media rendering, and scientific research. Since its migration to Solana in November 2023, Render Network has rendered approximately 33 million images, equivalent to 33,000 GPU hours using NVIDIA RTX 3090s.
- The number of active node operators on the Render network peaked at 1,900 in January 2024, a 66.3% increase since the migration to Solana.
- This growth is attributed to better awareness of Render’s capabilities and support from the Solana ecosystem.
- Rewards for node operators have also seen a 34.3% increase, peaking at 228,000 RNDR in early January 2024.
Helium Network – Exponential Growth in the Mobile Sector
Helium Network, the world’s largest decentralized network, is experiencing remarkable growth, particularly in its mobile sector. Token burns for Helium’s mobile network now far surpass those of its IoT network, driven by the rapid adoption of Helium Mobile services. In January 2024, the number of Helium Mobile subscribers reached nearly 90,000, supported by competitive pricing and MOBILE token incentives.
- Since December 2023, rewards offered to users of Helium’s mobile network have significantly increased, outpacing the growth rate of new subscribers.
- This increase is due to improved reward mechanisms and a crackdown on fraudulent activities, ensuring that genuine contributors now receive substantial rewards.
In conclusion, Solana’s continued success in the DePIN sector will depend on its ability to support these innovative projects while remaining competitive against new entrants.
