Decentralized Physical Infrastructure Networks (DePIN) tokens are cryptocurrencies from blockchain projects that manage real-world infrastructure. These include marketplaces, data storage platforms, computing power, and electrical grids.
In other words, these blockchain networks connect the physical and digital worlds with their decentralized tokens. But what do DePIN tokens really do, and are they worth investing in? Let’s find out in this comprehensive article.
What Are DePIN Coins?
Before getting into the details of the best DePIN coins for 2024, it’s crucial to understand what these coins are all about. DePIN coins are a new category of cryptocurrencies that reward users for their real-world peer-to-peer (P2P) services.
These tokens allow users to share their data resources with one another without a middleman, and their services range from data storage to data sharing, decentralized finance (DeFi), transportation, and healthcare.
The goal of DePIN coins and their projects is to make infrastructure smarter using aggregated data from different network contributors (users).
Top DePIN Tokens to Consider in 2024
As of the time of writing, there are over 100 DePIN coins with a combined market cap of around $18.7 billion. Here are the top options to consider from the lot:
Bittensor (TAO)
Bittensor is a decentralized artificial intelligence (AI) and machine learning (ML) platform that allows developers to exchange ML and AI models to support each other’s tasks. The peer-to-peer system eliminates centralized data-sharing models, allowing users to share information and scale at a quick rate.
Contributors on the distributed network get rewarded with the TAO token, Bittensor’s utility token. However, the reward system is structured to incentivize users based on the effectiveness of their contributions.
The TAO token is trading for about $400, down by over 20% in the last 7 days.
Render (RENDER)
Render (RNDR) is another top DePIN crypto performing well in 2024. The coin is the second largest in the DePIN ecosystem by market cap. It is renowned for its decentralized network that allows users to share graphic processing units (GPU) with digital creators.
These creators use the generated GPU to render motion graphics and other digital content, including 3D animations, visual effects, and other energy-intensive tasks.
The RENDER token is the ecosystem’s native cryptocurrency. It is used to incentivize GPU contributors, facilitate payments, and participate in governance. The coin is also tradable on cryptocurrency exchanges for around $4.2 per token.
Filecoin (FIL)
Filecoin was one of the earliest DePIN tokens. The decentralized blockchain network is renowned for its open-source data storage network that allows users to save files online or rent their storage spaces to one another.
The network operates a peer-to-peer system for cooperative data storage and retrieval, making it a decentralized version of conventional storage methods like DropBox. The FIL token is the platform’s utility coin that powers all its aspects. The token is trading for around $3, making it an affordable DeFIN coin to consider.
Helium (HNT)
Helium is a unique blockchain network that allows Internet of Things (IoT) devices to connect and communicate. The Helium Network can be likened to a hotspot upon which a community of such device users can exist. The network’s goal is to create a decentralized, low-cost wireless ecosystem for people to connect to besides the more expensive traditional options.
This is achieved using the Helium Hotspot, a physical device, which every user must own and connect with to provide wireless coverage. Network providers are rewarded with HNT tokens, depending on the level of coverage of their hotspot devices.
The HNT token is selling for around $5.7, down by over 15% in the last 7 days.
Theta Network (THETA)
Theta Network is a new blockchain that allows users to connect a global network of devices for video streaming, AI, and general entertainment. As a result, Theta users can collaborate and share their resources to create top-quality video content without hassles.
The Theta Network also has its native cryptocurrency called THETA, which offers various opportunities including staking. The token also makes up Theta’s reward system, which incentivizes users who share their bandwidth with others.
Trading at around $1 per token, THETA is one of the most affordable DePIN coins on the market.
Arweave (AR)
Like Filecoin, Arweave (AR) is a decentralized blockchain that allows permanent data storage online. It uses blockchain technology to create a permanent website where people can store information without the fear of it getting lost or damaged. The archived data is safely secured and can be retrieved at any time.
However, what sets Arweave apart from similar blockchain storage platforms is its one-time fee. Users are expected to pay on their very first attempt to store data. The fee is paid using the AR token, which also doubles as the network’s reward asset for miners.
Moreover, the AR token is listed on exchanges and valued at about $13 per unit.
BitTorrent (BTT)
Last on the list of the best DePIN tokens worth considering in 2024 is BitTorrent (BTT). The blockchain is connected with the popular BitTorrent for sharing movies, but it creates a decentralized platform to do so. To achieve this, BitTorrent uses a P2P system to share large data on the blockchain.
The BitTorrent protocol also powers decentralized applications (dApps) like BitTorrent Speed and BitTorrent File System. The BTT token powers the entire ecosystem. The coin is trading at $0.00000007983, up over 70% in the past year.
Conclusion
DePIN tokens are part of blockchain projects that provide users with real-life use cases of blockchain technology through decentralization. These include activities like data storage, data sharing, and other infrastructure.
As these projects grow, their associated tokens are expected to increase in price, making them viable investments for crypto traders.
Securely Manage Your DePIN Tokens With the Zypto Wallet
Buying DePIN coins is the first step. Afterward, there’s the need to safeguard the assets to avoid theft or hacks. Interestingly, all you need is the Zypto DeFi Wallet. The crypto wallet supports thousands of tokens, making buying, selling, storing, and investing in DePIN coins super easy.
Do DePIN coins have a future?
The future of any DePIN token depends on the success of its associated project. It’s crucial to opt for options with promising projects with potential when investing in DePIN coins for the future.
Ever heard of DePIN tokens? If you could invest in any, which coin would it be? Let’s have some comments below.
FAQs
Which cryptos are DePIN?
There are many DePIN coins on the market. Popular options include Render, Filecoin, and Bittensor.
What is the price of DePIN coins?
Since several DePIN coins are out there, there are no fixed prices. Check out the live price of any one you’re interested in before making a purchase.
Do DePIN coins have a future?
The future of any DePIN token depends on the success of its associated project. It’s crucial to opt for options with promising projects with potential when investing in DePIN coins for the future.
0 Comments