Telegram's Ad revenue share. Drosera bags $1.55M. Solana and DePIN are reshaping crypto's future. Don't miss the Solana ecosystem call in 16 Indian cities.
The Convergence of DePIN and Solana: A New Chapter in Crypto's Future
Hot in web3 right now are two words: DePIN and Solana. They're shaking things up and paving the way for the future of DeFi.
The DePIN ecosystem covers a diverse range of projects spanning server networks, wireless networks, sensor networks, and energy networks. These projects are redefining traditional business models and unlocking new possibilities for dApps.
For example 👇
Server network projects like Filecoin and Arweave enable users to monetize excess storage capacity.
Helium facilitate the sharing of 5G/Lorawan connectivity through hotspots.
Sensor networks such as Hivemapper and Render incentivize data sharing by rewarding users with attached devices, creating a novel form of passive income.
Energy networks like React and Powerpod empower individuals to share surplus battery or renewable energy resources, contributing to a more sustainable future.
But wait, the real potential of DePIN goes beyond tech to challenge the existing sharing economy. And what’s more fascinating is…
Platforms like Uber, Lyft, and Airbnb could be decentralized through DePIN projects, eliminating the need for intermediaries and enabling resource providers to maximize their earnings. 💸
Solana has emerged as a frontrunner in the web3 ecosystem, following Ethereum's trajectory. With a 21x increase in daily active addresses, doubled transaction volume, and a surge in active developers, Solana has solidified its position as a leading blockchain platform. 💪
Its monolithic architecture enables faster and more cost-effective transactions compared to modular alternatives like Ethereum. 🛠
Solana's monolithic design offers several advantages, including increased throughput, low transaction fees, and efficient data storage solutions.
Consensus nodes on Solana do not need to verify timestamps, enhancing scalability.
The platform's micropayment capabilities reduce costs associated with on-chain data storage, making it an attractive option for developers and users alike.
Solana is considered the best blockchain for projects that incentivize the building and maintenance of physical infrastructure using token incentives. 🪙
The rise of Solana in the DePIN sector began with Helium, a major DePIN project, moving to Solana from its native blockchain in Q2 2023.
Currently, Solana is home to prominent projects such as Helium, Hivemapper, and Render, like many other key players like the FAANG firms in the tech sector. Additionally, both Helium and Render shifted from Ethereum to the Solana blockchain.
As Solana continues to evolve, the platform faces the challenge of building unique protocols and innovations to differentiate itself in the competitive DeFi landscape.
Many see DePIN as a significant opportunity for the Solana ecosystem due to its large Total Addressable Market (TAM) and Solana's early lead in the DePIN space.
This growth is fueled by the tokenization of physical infrastructure, which could lead to significant value creation.
In a lot of ways, Solana's journey is kinda following in Ethereum's footsteps, but it's got the advantage of learning from Ethereum's hiccups along the way. Solana's really putting the spotlight on making things user-friendly and scalable, which sets it up to be a real game-changer in the world of blockchain. Plus, with DePIN projects setting up shop on Solana, we're looking at some serious growth potential here, opening up opportunities and uses we haven't even thought of before.
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💸 Droserasecures $1.55 million to revolutionize Web3 security, offering decentralized protection for DeFi. With a focus on trustless detection and response, Drosera aims to enhance security infrastructureforEthereum, empowering protocols and communities while introducing innovative capabilities and use cases.
💰 Taikosecures $37M to pioneer a censorship-free internet with decentralized infrastructure. Founder Daniel Wang aims to empower users with true ownership, privacy, and freedomofspeech. Taiko addresses challenges of content quality and incentivization in the web3 domain.
💸 Karma3 Labssecures $4.5M to enhance trust in web3 with decentralized ratings and recommendations through OpenRank protocol. Addressing trustandsafetyissues in crypto, the platform aims to provide transparent reputation systems for decentralized applications, communities, and marketplaces.
Easy offers personalized web3 feeds curated with content from friends, tastemakers, and communities you care about. Stay updated on NFTs, art, games, and cryptotrends in real time. Showcase your NFT collection on your social profile, highlighting your most cherished pieces.
Let’s get into Posty’s fresh pecks from the world of web3!
🇳🇬 Nigeria demands $10bn from Binance, accusing the cryptocurrency firm of manipulating forex rates, leading to a 70% devaluation of the naira. Cryptocurrency transactions in Nigeria reached 12% of GDP. The government suspends Binance and other platforms to stabilize the naira amid economic crisis and money-laundering concerns.
🚀 Nokia anticipates a surge in network demand by 2030, driven by advancements in Web3, Metaverse, and AI. The Technology Strategy 2030 report outlines plans to enhance equipment and services for the evolving tech landscape. Focus on smart contracts and blockchain integration to thrive in the decentralized era.
⛓ Telegram to Launch Ad Revenue Sharing with Toncoin on TON Blockchain. Pavel Durov reveals plans for an ad platform, enabling channel owners to earn 50% of ad revenue. Telegram channels to monetize content globally. TON token value surges post-announcement. Telegram joins YouTube and X in ad revenue-sharing programs.
🇺🇸 U.S. government transfers nearly $1 billion in bitcoin seized from Bitfinex hacker. Active wallets linked to the hack move funds to unidentified addresses. Motive unclear; Justice Department silent. Bitcoin's price volatility coincides with transfers. Another wallet holds $5.79 billion in seized funds.
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