Blockchain technology has given the world the gift of decentralization. From decentralized finance to fractional NFTs to even games with earning mechanics, the utility of decentralization has no bounds within the virtual realm. However, the perks of decentralization have now crossed into the physical space.
DePIN, or Decentralized Physical Infrastructure Networks, leverages blockchain protocols to handle physical infrastructure projects in novel ways. Now that this concept is gaining a lot of traction in the market, it is time that we look at the best DePIN tokens that are active in 2024.
Best DePIN Tokens List of 2024
Listed below are the best DePIN coins of 2024 that are redefining the functionalities of physical infrastructure through the ethos of decentralization.
- eTukTuk – Top DePIN Token Powering an Eco-Friendly Project
- Helium – DePIN Token Powering a Decentralized Wireless Network
- Filecoin – DePIN Token Powering a Protocol for Digital Storage
- Akash Network – Open Platform for Buying and Selling Computing Resources
- IoTeX – DePIN Token Powering a Network Connecting Smart Devices
- Theta Network – Offering Hybrid Cloud Computing Architecture
- Livepeer – DePIN Token Offering a Decentralized Video Infrastructure
- IOTA – DePIN Token Powering a Network Focusing on Digital Autonomy
- OpSec – Crypto Project Powering AI and Decentralized Cloud Computing
- Siacoin – DePIN Token Powering Decentralized Data Storage
Reviewing the Top DePIN Coins in 2024
In this section, we take a closer look at these individual projects to assess what makes them leading tokens in the Decentralized Physical Infrastructure Network niche.
eTukTuk – Top DePIN Token Powering an Eco-Friendly Project
eTukTuk is a blockchain project that leverages its green fundamentals, its DePIN-focused narrative, and its integration with AI to create an ecosystem in which electronic vehicles can become easily accepted.
The project’s decentralized physical infrastructure takes two forms. One is the Electric Vehicle Supply Equipment (EVSE), which is another name for the charging stations. And another is the ZEV or zero-emission vehicles, which are electric vehicles with zero carbon emissions.
EVSE are eTukTuk charging stations that the project is trying to set up in a bid to provide users with cleaner energy. To make it a reality, eTukTuk intends to work with its territory partners and establish stations in each territory. These stations will be connected to the eTukTuk network and will eventually be powered by solar energy.
The other element is the zero-emission vehicles, which are eTukTuks that will emit zero carbon and ensure that no harm is done to the environment when they are on the road.
Powering the ecosystem will be the TUK token, a BEP-20 crypto that will power the eTukTuk sharing economy and have utilities such as Power staking and gaming.
With power staking, those who stake their TUK tokens will be able to generate income through revenue sharing. Whenever eTukTuk drivers use the Driver App to charge their vehicles at the EVSEs, they will use TUK as the mode of transaction. This fee will then be distributed among the project’s creators, TUK holders, and power suppliers.
eTukTuk’s unique focus on making green decisions rewarding and implementing them through electric charging stations has positioned it as one of the best DePIN tokens available. Furthermore, it is a presale project that has raised up to $1.5 million already. Those interested in joining the green AI revolution should visit etuktuk.io to participate in the ongoing presale.
Helium – DePIN Token Powering a Decentralized Wireless Network
Helium is a DePIN coin that has been active for years and has established itself as a leading network to provide wireless internet connection through a decentralized wireless infrastructure.
This utility-rich project has been described as the future of wireless networks within the decentralized space. With it, those who connect with a physical Helium device can share some of their bandwidth with the Helium network and contribute to decentralized internet connectivity.
Contributing to the network has the same effect as mining, allowing users to earn HNT tokens. This method not only makes the prospects of mining tokens inexpensive, but it also helps establish unique “Proof of Coverage” mechanics.
The platform has been described as an open alternative to standard internet connections with the added advantage of being scalable and affordable. Furthermore, being Lorawan-compatible, it utilizes thousands of existing sensors, chipsets, and MCUs for a streamlined approach to development.
To provide a robust ecosystem that motivates participation, Helium has provided developer tools to help users create hotspots as well. Through its integration of decentralized internet connectivity, multiple solutions have been established. These include Abeeway, 1663, Actility, Airly, Allnet, and more.
These platforms offer services such as IoT, air quality monitoring, outdoor/indoor location tracking, and more.
Filecoin – DePIN Token Powering a Protocol for Digital Storage
Filecoin is a DePIN ecosystem that provides a digital storage space for key information.
The project established a global data network where a client makes a deal with the network provider to store fields.
When the time comes to retrieve the files, the same customer can look at the network in order to source for providers who may have it and then access the file.
In essence, Filecoin provides a dynamic distributed cloud storage network for the data. The data stored can be anything, with the likes of podcast data, personal files, contract data, websites, videos, dapp websites, private data, and public data sets being listed as the key entities that Filecoin can store.
To offer a truly decentralized data storage experience, Filecoin combines with a peer-to-peer distributed network protocol known as IPFS, which makes the data free from corporate control.
Furthermore, the entire network can be scaled, allowing users to contribute their own storage systems to the ecosystem. There are three cryptographic proofs that make data storage accessible and reliable on the platform and they include Proof-of-Spacetime, Proof-of-Replication, and Verifiable action.
In addition to storage mechanics, Filecoin has also introduced an ecosystem in which users can create decentralized applications.
Akash Network – Open Platform for Buying and Selling Computing Resources
Akash is an open network that has been described on the official website as the world’s premiere decentralized compute marketplace. It is an open network that lets users buy and sell computing resources in a secure manner.
Akash Network’s key features include the Orchestration layer, which SDL has fueled to enable intricate deployments across multiple platforms. The platform also has dedicated IP leasing, persistent storage, and P2P and private networks.
App deployment on the platform is said to be permissionless, and the network itself is powered by Kubernetes, which adds a layer of security to the ecosystem.
On the platform, users can deploy their own applications or monetize their cloud resources through the Akash marketplace. The platform also facilitates users with the Supercloud, a way for users to access a global array of services and control their budgets.
At the core of this project lies the Akash token, or AKT. AKT token is a utility token that also acts as a DAO crypto and offers a default mechanism to store and exchange value.
The token has a total supply of 228.95 million coins and has been instrumental in providing security to the network. It also acts as a reserve currency for Cosmos’s multi-chain and multi-currency ecosystem.
Furthermore, Akash Network is a community-owned project that has also integrated AI and ML fundamentals into its ecosystem. Akash Chat and SDXL are its leading text generation and text-to-image models.
Overall, Akash Network is a leading DePIN token with a developer-centric focus. Its way of making cloud resources accessible through the marketplace makes the pricing more competitive, and its secure platform for app deployment is good for newcomers.
IoTeX – DePIN Token Powering a Network Connecting Smart Devices
IoTeX is a DePIN token that facilitates the interconnection of smart devices and provides them with decentralized applications across virtual and physical realms.
The platform has been described as a premiere project for DePIN builders as it combines the security and accessibility of blockchain technology with the Internet of Things devices.
The platform has been covered by numerous publications since its launch, and award-winning technologies also back it. The Industry Internet Consortium, IEEE, and Confidential Computing Consortium have awarded the platform. For Ucam, CES has awarded IoTeX with a CES Innovation Award.
IoTeX serves as a launchpad for blockchain projects. The ecosystem lets developers create DePIN projects that are device-ready. With 100 delegators, the network is fully decentralized and is considered the first platform to connect web2 apps with web3 applications.
In order to establish connections between smart devices and the blockchain, IoTeX makes use of the IoTeX W3bstream. W3bstream is an open infrastructure for computing and streaming device data to power verifiable cryptographic proofs to tokenized real-world actions.
The IOTX token is powering the entire ecosystem. It has many utilities, including staking, developing DePIN applications, and governance.
Theta Network – Offering Hybrid Cloud Computing Architecture
Theta Network is a decentralized platform that enables the storage and streaming of Video, AI, and entertainment.
Powered by TFUEL, Theta Network is compatible with multiple devices and enables users to share their PC, Max, or Linux resources.
Like most, it taps into existing resources from individuals worldwide, ensuring that the entire ecosystem is decentralized. These attributes have been combined to power Theta Edgecloud, the project’s first hybrid cloud computing platform.
So far, Theta Network has 29 validator nodes, 9803 active nodes, and 2956 guardian nodes.
Theta Network’s video infrastructure comprises a low-cost Web3 video API, a Metachain, DRM-focused NFTs, Global Network, and Enterprise Validators.
Theta Network’s ecosystem also has a wallet that is supported on multiple wallet platforms such as Web Wallet, IOS Wallet, Android Wallet, and Metamask.
Livepeer – DePIN Token Offering a Decentralized Video Infrastructure
Like Theta, Livepeer offers a decentralized infrastructure for video sharing. However, this platform is limited to video sharing, streaming, and storage.
Described on its official website as an open video infrastructure, this web3 project supports on-demand and live streaming. Through its decentralized approach, the platform aims to deliver an ecosystem that lets viewers control their experience and lets creators have autonomy over their content.
Investors are invited to play one of three roles on the Livepeer network. As developers, they can develop live and on-demand video experiences within their applications.
Orchestrators are similar to validators, running a Livepeer node and contributing their GPUs in a bid to transcode videos.
Beginners without the technical know-how to become orchestrators or developers can become delegators instead, assigning a set number of LPT tokens to help orchestrators run their GPU nodes.
In exchange, these entities earn a share of the broadcasting fees from Livepeer. Above all, Livepeer is finding its utility in multiple open protocols that have resulted in the emergence of many decentralized video applications. Some of the notable ones are Bonfire, Beem, StreamETH, Lenstube, and more.
IOTA – DePIN Token Powering a Network Focusing on Digital Autonomy
IOTA is a different form of distributed ledger technology, a feeless data and value transfer protocol that is said to have been designed to be frictionless.
Built for the Internet of Things, this decentralized network facilitates the exchange of values between humans and devices. With the platform, there are neither blocks nor miners involved. The process of transaction involves validating two other transactions at the same time. This attribute deals with the scalability limitations associated with a blockchain-powered decentralized network.
The platform has been powered by Tangle, a blockchain alternative that keeps immutable records and facilitates the exchange of data and value. It uses a directed acyclic graph, which facilitates parallel transactions. It has low resource requirements and enables zero-fee transactions.
Other attributes that IOTA introduces are fast transactions, fast finality, and security.
Due to its unique architecture, IOTA has found its uses in three particular sectors: social impact, global trade, and digital identity.
IOTA has also found a use case in providing sustainable solutions for projects involved with social impact. Because of its no-fee approach, transparent and inclusive public services are possible.
In the global trade sector, IOTA has utilities in customs and border management and data tracking, and it also enables the creation of a digital equivalent of physical data.
In the digital identity sector, users can leverage IOTA to establish a self-sovereign identity and create digital identities that meet regulatory compliance.
OpSec – Crypto Project Powering AI and Decentralized Cloud Computing
OpSec is a DePIN project providing decentralized AI and cloud computing solutions to the masses.
The platform enables the creation of a secure and decentralized digital ecosystem to provide cloud-based resources that are more democratized and secure. Its key features include a high level of security, private IP addresses, AI-enhanced cloud computing, and Decentralized Physical Infrastructure Networks.
The platform is home to multiple utilities, including the OpSecCloud Bot, OpSec Cloudverse, OpSecure Mesh, and DeepSec AI.
OpSecCloud bot is a system that prioritizes the security of projects. It is a platform that facilitates the creation of decentralized applications.
With OpSecCloudverse, users get remote access modules that let them control blockchain nodes and servers from a distance. Developers also leverage the OpSecCloudverse for the purpose of trading, gaming, and hosting decentralized applications.
OpSecure Mesh offers security to the ecosystem through encryptions. It contains an IP pool of 7 million, unlimited threads, exclusive user pass authentication, country targeting, and rotating sessions for optimal performance.
The platform has also introduced DeepSec AI for penetration test identity verifications and video conferencing systems. It is one of the more recent blockchain projects that have emerged in 2024. However, its DePIN architecture can find utilities across the cryptosphere.
Siacoin – DePIN Token Powering Decentralized Data Storage
Siacoin is a DePIN coin that facilitates decentralized data storage. With Sia’s ecosystem, users can get access to a trustless cloud storage marketplace, which allows buyers and sellers to transact directly without the need for any intermediary.
Users can basically rent storage space for those who want it via the Sia network in return for profits. Hosting the space to rent requires downloading the “hostd” software from the platform itself.
Those who want to rent storage space must download the “renterd” software for the job.
The storage methodology that Sia implements is a simple one. First, the files are divided and encrypted before storage via the smart contract. Those who host or rent space on the platform have to pay in terms of Siacoin. For those who want to increase the rent duration, smart contracts are renewed over time.
When the time comes for the renter to retrieve the files, the host must prove that they hold the data.
Siacoin’s integration of decentralized storage makes it a suitable DePIN project for those looking for a more decentralized way to store their data on the cloud.
What is DePIN?
DePIN is short for Decentralized Physical Infrastructure Networks. These are applications that leverage blockchain technology and decentralized methods to create a distributed physical infrastructure in order to fulfill various requirements.
The projects first came to the fold with the release of Power Ledger and OpenBazaar. With Power Ledger, individuals get access to a network that allows them to sell off energy surplus. And with Open Bazaar, direct digital transactions between buyers and sellers were enabled.
Cryptocurrencies that facilitate the creation and maintenance of DePIN are known as DePIN coins.
How Does DePIN Work?
How DePIN projects work depend on the niche they are associated with. However, there is one commonality in every network that offers decentralization of physical networks – computing resources, whether in the hardware or software form, are shared.
We can explain the complete functionality of how DePIN works by taking the example of resource sharing. Take a network that supports computing resources, for instance. The provider of this DePIN network will offer a node operator with hardware that lets the said operator share their resources and connect to the network.
The DePIN network itself then plays host to these shared resources, letting others tap in. In most cases, there is a resource marketplace that those who want to rent those resources can use. The way to pay for these resources is done using the native cryptocurrency of the project. In eTukTuk’s case, for instance, TUK is used to recharge vehicles.
Similarly, in Theta Network’s case, THETA is used to facilitate video sharing as well as sharing other AI and entertainment-based assets. Hence, to enjoy such services, users are expected to buy the crypto.
Overall, this is how a decentralized physical infrastructure network connects physical resources from across the globe and offers decentralized solutions.
How Did We Choose the Best DePIN Tokens?
We used the following points in order to pick the best DePIN coins available in the market.
Popularity of the Project
The first aspect we looked for was popularity. The more popular a project is, the more relevant its use case will be. As such, we looked at the trends of the most popular cryptocurrencies and found the ones that support DePIN. We also looked at market capitalization of these popular projects in order to discern their profitability.
Project’s Utility
The second factor that we took into consideration was the utility of the project. Cloud computing solutions, though relevant, might not always be accessible to those looking for beginner-level cryptocurrencies. Therefore, we searched for utilities that are considered accessible and have the potential to grow. Livepeer is a decentralized video streaming platform, eTukTuk is an eco-friendly project that facilitates e-vehicle charging, and Helium offers decentralized access to internet connectivity.
These utilities are understandable and accessible. That is why we chose them.
Long-Term Potential of the Project
For a project to be profitable in the long run, looking at long-term potential is a must. Therefore, the third critical factor that we looked at was long-term potential. While most DePIN tokens have utilities that are known worldwide, only a few of them may be able to follow through with their roadmaps. To find the best ones among them, we looked at DePIN tokens that have shown robust developments in the past. We went on X (Twitter) to find some updates that could give us an insight into these projects.
The Verdict
In this guide, we have taken a closer look at the best DePIN coins active in the market. We have also discussed the definition of the term and have provided you with the ways we have chosen these projects.
DePIN tokens have started to gain traction since the community is asking for projects with utilities that aren’t limited to the digital realm. eTukTuk has emerged as the best DePIN token in this regard. It is powering a simplified ecosystem where a decentralized network is being established and connected to electric charging stations to let people embrace greener modes of transportation.
This narrative and the future upsides of eTukTuk have allowed it to raise up to $1.5 million in the ongoing presale. Those interested in this project can visit etuktuk.io today.
FAQs
What are DePIN tokens?
DePIN tokens are cryptocurrencies that power blockchain projects focusing on Decentralized Physical Infrastructure Networks. These tokens leverage blockchain technologies and decentralized solutions to provide a distributed variant of an existing physical infrastructure.
Which is the best DePIN token to invest in today?
There is currently a large number of DePIN tokens available on the market. However, the best one according to our research, is eTukTuk. It is a green crypto project powering a network of charging stations and aims to create an ecosystem where people readily accept electric vehicles.
Is it too late to buy eTukTuk?
It is not too late to buy eTukTuk as the token is still available on presale. Therefore, interested persons can take advantage of this to gain early exposure to the project and join the green AI revolution.
