Current Status and Potential Players of DePIN Development

Author: Bob | Plain Language Blockchain

In recent years, the DePIN track, as one of the important trends in crypto innovation, has shown explosive growth. DePIN integrates physical assets into decentralized networks through blockchain technology, bringing new transformations and new opportunities for the large-scale application of Web3…

01
DePIN: The Next Frontier for Large-Scale Adoption of Web3

In the past few years, the crypto field has made breakthroughs in overcoming the blockchain scalability bottleneck, but there is still a certain lack in the large-scale application landing. The "GameFi" and "SocialFi" tracks, which were originally expected to have large-scale applications, have not sustained growth, and the latter is still in its early stages. Now, there is a new frontier for the large-scale adoption of Web3: DePIN.

Currently rising globally, DePIN (Decentralized Physical Infrastructure Network) can be seen as a new evolutionary direction of the "Blockchain + IoT" concept from a few years ago.

According to a report from Fortune Business Insights, the global IoT (Internet of Things) market size in 2023 is $595.73 billion. It is expected to grow from $714.48 billion in 2024 to $4.06234 trillion by 2032. Although the IoT market has seen growth in recent years, industry insiders point out that the IoT also exposes some shortcomings that need to be addressed, such as network security and data privacy issues, the high operational costs of centralized large-scale IoT devices, and significant pressure from regulations, while DePIN's shared and utilized physical infrastructure, new economic models, and technological frameworks address these issues. As a result, DePIN has become one of the fastest-growing industries, with a total addressable market expected to exceed $2.2 trillion. According to a report released by Messari in January 2023, the DePIN industry is expected to reach over $3.5 trillion by 2028.

Currently, there are a number of successful Web2 IoT companies and projects in the market that are accelerating the adoption of Web3 solutions, bringing exponential growth to their businesses. For example, the recently popular decentralized global open wireless network Roam, as a leader in the DePIN track, provides a classic case for the large-scale application of DePIN through its unique business model and technological innovations.

02
What Does Roam Bring?

It is reported that the typical DePIN project Roam is developed with the support of MetaBlox Labs, combining Web3 and OpenRoaming™ technology to provide users with free, seamless, and secure internet connectivity. In simple terms, Roam is a decentralized open global wireless network platform that acts as a bridge, integrating OpenRoaming™, traditional WiFi, eSIM, Web3, and other technologies to establish a free, powerful, and secure network connection covering the globe for users, while also bringing more innovative products and value-added services.

Roam's parent company, MetaBlox Labs, is the only Web3 IDP project among the 11 corporate alliances in the WBA OpenRoaming™ program. Seven of the top ten mobile operator groups globally (ranked by revenue) have joined the WBA, with other members including tech giants like Cisco, Google, and Intel.

Roam has secured three rounds of financing from numerous well-known investment institutions, including Anagram, Volt Capital, SNZ, and Samsung Next. The ability to attract investment in a short period indicates its extraordinary potential. Today, let's take a detailed look at what Roam has brought:

1) Solving Pain Points in the Traditional Telecom Industry

It is well known that the traditional telecom industry is a capital-intensive, asset-heavy, and low-margin sector. Each upgrade in communication technology requires a significant deployment and upgrade of new infrastructure. For example, transitioning from 4G to 5G necessitates the construction of numerous new base stations as hard infrastructure to ensure comprehensive network coverage, with investments in manpower and resources reaching astronomical figures in the trillions. According to a report from CAITC in October this year, the total number of global 5G base stations has reached 5.94 million, a year-on-year increase of 32.6%. While traditional telecom operators face high costs, they also struggle with slow business model transformations and inefficient services.

Roam brings efficient internet connectivity with global coverage through the DePIN model and innovative technology. Most importantly, it reduces costs through the sharing and utilization of a large number of physical infrastructures, which are distributed among countless "node" terminal operators. The project team, as the operator, focuses on providing a complete set of solutions, including platform technology operation, hardware design and development, and efficient services. Due to lower costs and the absence of heavy assets, DePIN networks like Roam can flexibly adjust directions and provide diverse and efficient products and services.

2) Creating Real Value for Users

For ordinary internet users, Roam offers a brand new Web3 decentralized telecom network experience, building a global network through the latest popular OpenRoaming technology designed specifically for public WiFi, providing users with an efficient, high-coverage, low-cost, and secure privacy network experience.

For users in the crypto community, Roam brings DePIN platform revenue sharing and community ecosystem rewards. Users (miners) can earn Roam Points by participating in network construction (such as providing WiFi access services or running Roam routers). These points can be exchanged for ROAM Tokens (which will have a TGE during this cycle), airline miles, phone credits, and other tangible goods and services. In the future, Roam will also provide additional incentives through hardware network nodes (such as the Rainier MAX60 router) to share CDN bandwidth.

3) Innovative Solutions and Products

Currently, Roam is gradually advancing the construction of a global Telecom Data Layer based on its DePIN business and product line, aiming to establish the physical layer L1 of the DePIN ecosystem, connecting and sharing data between people, devices, assets, and AI. The goal is to create an open, secure, and decentralized data layer that connects various physical and digital assets, promoting the integrated development of Web3 and IoT.

The ecosystem built by Roam's Telecom Data Layer will have capabilities for data connection, secure identity verification, data encryption security, and sustainable Token management, which will be applied in decentralized wireless networks, IoT, edge computing, smart homes, and other scenarios, while also bringing new infrastructure for the development of Web3 and IoT, accelerating the integration of the physical and digital worlds, thus achieving large-scale application landing.

Notably, its flagship product Roam eSIM cleverly achieves seamless switching between WiFi and cellular networks. Currently, users can receive free eSIM data through interaction with the Roam Network on the Roam APP, or recharge Roam Global eSIM data through USDT cash. This service currently covers over 160 countries and regions. Another launched Roam add-on eSIM offers fixed data roaming packages similar to telecom operators (currently supporting 10 countries), saving users from "astronomical" international roaming data fees.

03
Over a Million Users: What Did Roam Do Right?

According to publicly available data, Roam surpassed one million users in less than a year, with over 860,000 self-built nodes, becoming one of the leading players in the DePIN track. Through Roam Explorer, we can see these data charts:

1) Over 860,000 nodes distributed globally

2) Rapidly growing registered users (over 1.4 million)

3) User activity growth curve (engagement)

These data reflect the strong growth of the Roam network, and the high user engagement is also an impressive achievement for an internet project that has been established for less than a year.

The rapid success of Roam in attracting a large number of users can be attributed to several key factors:

1) Community-Based Free Business Promotion

Roam attracted a large number of users by providing free wireless network access and global eSIM data. At the same time, Roam's points incentive mechanism brought more positive feedback. Users can not only share their networks but also receive qualitative rewards that can be exchanged for valuable Tokens, quickly building a consensus-driven Web3 community. Data shows that since the launch of Roam eSIM, the user count has grown from 750,000 to one million in less than a month.

2) A New Experience Brought by Web3 Technology

In addition to the Token incentives mentioned earlier, the integration of Web2 and Web3 has also provided users with a brand new experience. The OpenRoaming technology allows users to enjoy automatic login and secure encrypted WiFi networks globally. At the same time, blockchain and Web3 technologies, along with the DID+VC solutions, ensure that users' privacy information is fully respected and protected, allowing users to use the low-cost and convenient services with greater peace of mind.

3) Active Operations and Community Building

The Roam project team places great importance on community building in addition to product development. Many suggestions and feedback from community users have become valuable sources of innovation for the project.

Based on past experiences, community-driven initiatives will bring strong promotional and conversion capabilities. Active user participation not only drives network optimization but also enhances user loyalty and brand stickiness.

04
Conclusion

As a typical large-scale Web3 application, Roam is expected to break away from traditional models and become a telecom application originating from Web3 that serves the entire society. The successful advancement of its business indicates that "IoT + Web3" has great potential. DePIN is continuously moving towards solving pain points and practical problems for various industries and users. In the upcoming market trends, DePIN projects like Roam are expected to occupy a "seat at the table" due to their high landing value.

Article link: https://www.hellobtc.com/kp/du/11/5559.html

Source: https://mp.weixin.qq.com/s/JKlKJoaDBO7VMQBpt0_EoA

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