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Messari

@MessariCrypto

Aug 7 • 8 tweets • 3 min read • Read on X

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DePIN continues to grow 🌐

With fundraising volume up 296% year over year, the total market cap grew 400% to $20 billion.

It’s Time for a #DePIN Sector Update 🧵⬇️

1/ Since our last Sector Map, we’ve added four DePIN sub-sectors:

• Decentralized Gaming Infrastructure (DeGIN) - Compute Network
• AI Data Layer - Bandwidth Network
• Robotics - Mobility Network
• Manufacturing - Mobility Network

2/ Seven of the top eight DePIN protocols by market cap are Digital Resources Networks (DRNs), worth a combined $12.2 billion.

@Helium is the only Physical Resource Network (PRN) that made the top 8.

@Filecoin @onlyarweave @graphprotocol @akashnet_ @Theta_Network 3/ However, the growth in market cap did not correlate to an increase in revenue.

Revenue is still significantly low across all of DePIN, with only four of the largest DePIN protocols ranking in the top 8 by revenue.

4/ The overall lackluster revenue growth reflects the DePIN sector continuing to be primarily demand-constrained.

Centralized platforms continue to offer more integrated solutions that combine raw resources with customized services.

5/ Examining the earliest stage fundraises may point us to where investors see the most potential.

Two of the three largest deals in 2024 are investments in DePIN-tailored L1s, including @iotex_io, which raised a $50 million round, and @peaqnetwork, which raised a $30M round.

6/ So, what chains are DePIN projects building on?

For now, @Solana leads with an estimated 78 projects built on the network. Meanwhile, DePIN-focused L1s like IoTeX and Peaq are also growing their ecosystems.

@ethereum @iotex_io @peaqnetwork @0xPolygon @BNBCHAIN @cosmos 7/ Enjoyed the thread?

Explore the latest DePIN report by @dylangbane for a detailed analysis of the growing sector.
messari.co/3LWpgVh

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More from @MessariCrypto

Messari

@MessariCrypto

Aug 1

Exploring AI x Crypto 🤖

This sector has seen explosive growth, with numerous projects now valued over a billion dollars with $230M invested in July 2024 alone.

Let's dive into the intersection of decentralized AI and blockchain technology.
🧵⬇️

First, let's break down some key components in AI x Crypto:

1. Decentralized Compute Networks: Networks of GPUs for model training and inference.
2. Model Coordination Platforms: Incentivizing model development and specialized inference settings.

(continued)

3. AI Tools and Services: Marketplaces for AI models and services.
4. Apps: Consumer and enterprise products leveraging AI models.

Now that we understand the various components, the question remains: what is really going on at the intersection of AI and Crypto?

Read 8 tweets

Messari

@MessariCrypto

Jun 26, 2023

1/ The crypto space's evolution has necessitated stronger server infrastructure to meet the increasing performance requirements of blockchains and their applications.

@Old_Samster dives into why advanced physical infrastructure is crucial.👇🧵

@Old_Samster @Filecoin @sphere_labs @akashnet_ 2/ Newer chains like @avax and @Solana demand significantly higher processing power compared to @Ethereum.

This has driven validators towards being hosted in data centers, given their increased demand for processing power, low latency, and high uptime.

3/ Decentralized storage networks (DSNs) and compute networks face similar challenges.

Ordinary people contributing idle storage space isn't enough for commercializing DSNs. Data centers become indispensable for low latency and exceptional uptime.

Read 7 tweets

Messari

@MessariCrypto

Jun 6, 2023

1/ Scalability is a key factor in the crypto space, with the modular approach gaining popularity. However, @Solana has taken a contrarian stance.

@kelxyz_ explains how @jump_firedancer, a validator client developed by @jump_ aims to enhance Solana's monolithic approach.🧵

2/ @jump_firedancer's first milestone, "fd_quic," demonstrated impressive transaction propagation throughput of 1M transactions per second (TPS) in initial performance tests.

But there's more work to be done to achieve the full potential of Firedancer.

3/ If successful, @jump_firedancer could unlock blue ocean markets for the @Solana ecosystem by offering unprecedented throughput, composability, and low costs.

However, challenges in execution, timing, and competition pose risks to its adoption and success.

Read 14 tweets

Messari

@MessariCrypto

Jun 2, 2023

@trondao

1/ Closing out Q1 quarterly reports for 2023, our State of @trondao, $XRP Ledger (XRPL), @Stacks mark our final three releases.

Explore individual protocol highlights and access the full reports below.👇🧵

@JamesTrautman_

2/ @JamesTrautman_'s State of @trondao Q1 23' report ⬇️

+Dynamic Energy Model resulted in revenue up 65.5%
+Circulating Mcap of $TRX increased by 18.1%
+Prominent protocols #justlend & #juststables saw TVL increase at 26% and 21% respectively

🔗 zpr.io/YHp2NGq9R926

@redvelvetzip

3/ @redvelvetzip State of $XRP Ledger (XRPL) Q1 23' report ⬇️

+Daily active addresses & daily transactions increased QoQ
+XRP’s price increased 55.5% QoQ from $0.35 to $0.54
+Upcoming deployment of Hooks, sidechains, & new token standards

🔗 zpr.io/Y67ejYzYgH7S

Read 4 tweets

Messari

@MessariCrypto

Jun 2, 2023

@Saypien_

1/ In a bear market, it's crucial to focus on long-term market developments and product announcements to understand what may support or drive new waves of app development.

@Saypien_, @Old_Samster, & @chasedevens dive into this week's key developments and product announcements.🧵

2/ Aligned, a high-performance compute provider, predicts the zero-knowledge proofs (ZKPs) market to reach $10B by 2030.

ZKPs verify computations and ensure privacy in transactions. #Ethereum is expected to capture 66% of the market.

@LensProtocol

3/ @LensProtocol, a decentralized social graph protocol, introduced Momoka to decrease transaction costs and improve stability.

Lens has seen a 75% decrease in transaction costs, making consumer applications more viable. Momoka is a game-changer for building foundational layers.

Read 7 tweets

Messari

@MessariCrypto

Jun 2, 2023

@xmtp_

1/ @xmtp_ is revolutionizing Web3's messaging layer with its generalized protocol and network.

@sunnydece explains how XMTP enables end-to-end encrypted messaging between on-chain addresses and the project's approach to mass adoption.🧵

@xmtp_

2/ How does @xmtp_ work?

XMTP acts as a bridge between blockchain addresses, allowing secure messaging.

XMTP inbox is tied to a user's address and portable between apps.

Users can access and send messages through various apps, fostering continuity and interconnectedness.

@xmtp_

3/To facilitate its feature set, @xmtp_ uses a peer-to-peer network w/ end-to-end encryption.

These design choices make message contents inaccessible to nodes, and metadata anonymized.

The protocol also supports 1:1 and 1:many messaging and notifications.