13 days ago
WHAT ARE THE BIGGEST OBSTACLES TO DePIN GROWTH??
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
In a recent appearance at ETHToronto, Frank Mathis highlights the next steps for DePIN’s future.
GenesysGo founder Frank Mathis is no stranger to the highs and lows of crypto’s thriving DePIN sector.
Drawing on his years of experience, Mathis joined other DePIN thought leaders at ETHToronto, including Helium COO Scott Sigel, to discuss the future of the sector.
“If DePIN solves that, DePIN is inevitable”
Like many passionate crypto community members, DePIN advocates staunchly argue that DePIN is inevitable. Speaking to hundreds of crypto enthusiasts at ETHToronto, Mathis offered a refreshing point of view.
The GenesysGo founder argues that value creation for contributors is one of the most integral aspects of running successful DePIN networks. Mathis highlighted that, while DePIN promises to reward contributors as decentralized software scales, “it’s shocking how much of that is running on AWS and Google Cloud.”
For example, over 50% of Ethereum node operators are hosted on AWS, Hetzner, and OVH servers.
Reiterating the importance of wealth creation for contributors, Mathis contends “what DePIN really is, is an attempt to take one of the most centralized layers of the stack and decentralize that amongst the people such that they start to participate in the growth and success of these models.”
GenesysGo’s ShdwDrive is one such example. The decentralized storage solution empowers users to earn $SHDW tokens by providing unused mobile storage to a distributed network, directly generating income from a device that lives in their pocket.
Reflecting the ideal DePIN model proposed by Mathis, network contributors benefit from the growth and success of the platform. The GenesysGo founder reinforced this notion, opining “DePIN is only as inevitable as the value that participants in the network get from it… if DePIN solves that, DePIN is inevitable.”
POOR PERFORMANCE “ONE OF THE BIGGEST FAILINGS OF DePIN”
On paper, the benefits of DePINs are obvious. However, in practice, these platforms often sacrifice performance and scalability in favor of decentralization. While this aids in value creation for contributors and increases security, it actually hamstrings performance and growth.
DePIN is often considered the natural evolution of the sharing economy, which delivered iconic businesses like Uber and Airbnb.
Drawing parallels between the pearls of the sharing economy and emerging DePIN projects, Mathis illustrated that “Uber became highly successful, not just because you’re able to share in pieces of things you don’t use everyday.. but because it worked well, it was fast, it was easy to use.”
Mathis argues that for DePIN projects to truly take off, they need to rival the performance standards set by centralized industry leaders. Referencing his experience with GenesysGo, the founder posits “in our case, our first principle [is] decentralized storage needs to be as fast, as secure, as stable, and perform every bit as well as a traditional Web2 cloud service.”
ABSTRACTION IS KEY
The Web3 user experience has long been considered one of the industry’s biggest obstacles to adoption. The complexities of wallet management and security have discouraged newcomers to space for over a decade, and continue to repel potential users today.
Mathis insists that abstracting the end-user experience away from blockchain technology is key to the success of the industry. Reinforcing this belief, the founder affirms “Your end user shouldn’t know that they’re interacting with Web3”
Looking towards the future, Mathis considers DePIN regulation will present a significant obstacle to the sector’s growth. However, instead of taking a chagrined approach to future regulatory concerns, the GenesysGo founder suggests that DePIN projects need to take on some responsibility.
26 days ago
Gearing up for BSC Season?
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27 days ago
Daily Memecoin Recap - August 21
People continue to hop chains as new fair-launch platforms release on other chains. First it was $trx , now it's $bnb
In my opinion, all volume will be redirected back to $sol
BSC gets their own "pumpfun"
$binancedog -> hit $10m , based on a tweet from binance on August 13th
- four_meme_ launches the first launch platform for memecoins on BNBCHAIN
- Traders bridged some funds over to $BNB
- Lots of older memes on BNB pumped on the news
McDonald's Hack
$grimace -> hit $25m , McDonalds got hacked, the exploiter posted a CA on their instagram and ultimately stole $700k in funds
Solana Vs Binance
$solanadog -> hit $2 .1m, CTO, rival to $binancedog from BNB chain
$sd -> hit $2m , another solana dog
$solanacat -> hit $200k , beta to $solanadog
Smoking Chicken Fish Comeback
$scf -> $19 .8m to $39 .6m (2x), potential reversal in play
$sed -> hit $370k , "smoking eagle dog", beta to $scf
Other Cooks
$ptc -> hit $1 .2m, dev is a whale
$hff -> hit $1 .2m, "Holy Frog Father"
$kol -> hit $670k , "Key Opinion Loser", play on words on "key opinion leader" aka influencers
$trenches -> hit $600k , launched by a KOL
$gc -> hit $390k , "God Candle"
$doggo -> hit $330k , "Discord Doggo"
$sol will be the leader chain in terms of memes this cycle. We've yet to see any other chain consistently rival the volume that we get on Solana memes
Did you cook? 🍜
People continue to hop chains as new fair-launch platforms release on other chains. First it was $trx , now it's $bnb
In my opinion, all volume will be redirected back to $sol
BSC gets their own "pumpfun"
$binancedog -> hit $10m , based on a tweet from binance on August 13th
- four_meme_ launches the first launch platform for memecoins on BNBCHAIN
- Traders bridged some funds over to $BNB
- Lots of older memes on BNB pumped on the news
McDonald's Hack
$grimace -> hit $25m , McDonalds got hacked, the exploiter posted a CA on their instagram and ultimately stole $700k in funds
Solana Vs Binance
$solanadog -> hit $2 .1m, CTO, rival to $binancedog from BNB chain
$sd -> hit $2m , another solana dog
$solanacat -> hit $200k , beta to $solanadog
Smoking Chicken Fish Comeback
$scf -> $19 .8m to $39 .6m (2x), potential reversal in play
$sed -> hit $370k , "smoking eagle dog", beta to $scf
Other Cooks
$ptc -> hit $1 .2m, dev is a whale
$hff -> hit $1 .2m, "Holy Frog Father"
$kol -> hit $670k , "Key Opinion Loser", play on words on "key opinion leader" aka influencers
$trenches -> hit $600k , launched by a KOL
$gc -> hit $390k , "God Candle"
$doggo -> hit $330k , "Discord Doggo"
$sol will be the leader chain in terms of memes this cycle. We've yet to see any other chain consistently rival the volume that we get on Solana memes
Did you cook? 🍜
1 month ago
2 months ago
Total unique addresses on popular blockchain platforms
This month, BNBChain, Polygon, and Ethereum continue to lead the pack
Highlight stats:
- Most new addresses created: Base (+12.7M)
- Highest growth rate: Taiko (+22%), TON (+20%)
Hmmm... 🤔
This month, BNBChain, Polygon, and Ethereum continue to lead the pack
Highlight stats:
- Most new addresses created: Base (+12.7M)
- Highest growth rate: Taiko (+22%), TON (+20%)
Hmmm... 🤔
2 months ago
🏠 An Airbnb host adds the “no crypto mining” rule after a tenant installed 10 rigs in their accommodation.
The electricity bill of $1 ,500 in just three weeks must have been difficult for this homeowner.
Ashley says her guest brought the computers to mine cryptocurrencies into the home and also installed an electric vehicle charging station.
“It was cheaper for them to rent a house than pay for this electricity”
The tenant was probably honest about his installation and reported to the owner that he had earned more than $100 ,000 during his stay.
These types of cases are increasing more and more and many owners support Ashley.
“I have also included in my regulations the ban on mining cryptocurrencies. It’s ridiculous that we have to do this.”
The electricity bill of $1 ,500 in just three weeks must have been difficult for this homeowner.
Ashley says her guest brought the computers to mine cryptocurrencies into the home and also installed an electric vehicle charging station.
“It was cheaper for them to rent a house than pay for this electricity”
The tenant was probably honest about his installation and reported to the owner that he had earned more than $100 ,000 during his stay.
These types of cases are increasing more and more and many owners support Ashley.
“I have also included in my regulations the ban on mining cryptocurrencies. It’s ridiculous that we have to do this.”
2 months ago
📊 The cryptos in the TOP 10 compared to their ATH.
🔸 Bitcoin: at 5.7% of its ATH ($73,737)
🔸 Ethereum: at 31% of its ATH (4878 $)
🔸 Solana: at 26.1% of its ATH ($259)
🔸 BNB: at 17.3% of its ATH ($717)
🔸 XRP: at 82% of its ATH ($3.40)
🔸 Dogecoin: at 81.6% of its ATH ($0.73)
🔸 Toncoin: at 17.9% of its ATH (8 $.25)
🔸 Bitcoin: at 5.7% of its ATH ($73,737)
🔸 Ethereum: at 31% of its ATH (4878 $)
🔸 Solana: at 26.1% of its ATH ($259)
🔸 BNB: at 17.3% of its ATH ($717)
🔸 XRP: at 82% of its ATH ($3.40)
🔸 Dogecoin: at 81.6% of its ATH ($0.73)
🔸 Toncoin: at 17.9% of its ATH (8 $.25)
3 months ago
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3 months ago
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3 months ago
The spotlight is on our Hall of Fame this week.
Check out these standout Maestro trades!
📌 Primary Trade
💳 Main
🪙 LONG 🚀 +29309.05% ⏱ 15:15
Initial: 0.0194 $BNB
Worth: 5.708 BNB
Time elapsed: 33d 11h 3m 31
📌 Primary Trade
💳 Main
🪙 $Genie 🚀 +9334.61% ⏱ 53:14
Initial: 3 $SOL
Worth: 283.0382 SOL
Time elapsed: 1d 18h 45m 26s
💵 Price:.0154 | MC: $15 .5m
💸 Price impact: -11.58% ⚠️ High Impact
🤑 Expected payout: 250.25 SOL
Join our HOF channel: https://t.me/MaestroGains 👈
Start trading with Maestro: https://t.me/Maestro 👈
Check out these standout Maestro trades!
📌 Primary Trade
💳 Main
🪙 LONG 🚀 +29309.05% ⏱ 15:15
Initial: 0.0194 $BNB
Worth: 5.708 BNB
Time elapsed: 33d 11h 3m 31
📌 Primary Trade
💳 Main
🪙 $Genie 🚀 +9334.61% ⏱ 53:14
Initial: 3 $SOL
Worth: 283.0382 SOL
Time elapsed: 1d 18h 45m 26s
💵 Price:.0154 | MC: $15 .5m
💸 Price impact: -11.58% ⚠️ High Impact
🤑 Expected payout: 250.25 SOL
Join our HOF channel: https://t.me/MaestroGains 👈
Start trading with Maestro: https://t.me/Maestro 👈
