Decentralized Physical Infrastructure Networks, known as DePINs, are currently a major focus in the Web3 industry during this particular cycle. While this technology has been in existence for some time, it has recently experienced a surge in interest due to the return of positive sentiment in the cryptocurrency market.
DePINs enable ordinary individuals to contribute their physical infrastructure resources, such as hard drive space or bandwidth, to support a larger decentralized network. One notable project in this space is XYO, where users can store data for clients and receive cryptocurrency in exchange.
In the latest episode of “The Agenda” podcast, hosts Jonathan DeYoung and Ray Salmond sit down with Markus Levin, the co-founder and head of operations at XY Labs, the company responsible for developing the XYO protocol. Levin argues that DePINs have the potential to enhance the trustworthiness of artificial intelligence and have already made significant progress towards mass adoption in the crypto realm.
During the interview, Levin highlighted the issue of AI models generating false information, referred to as “hallucinations.” He suggested that a DePIN system like XYO, which provides verifiable data provenance, could serve as a safeguard against such inaccuracies.
Regarding the question of whether there is a DePIN market bubble amid the current hype, Levin dismissed the idea, stating that DePINs are just at the beginning of a growth trajectory. He emphasized that the excitement around the technology is justified as it is scalable and meets genuine client needs.
Levin also expressed confidence in the potential for a DePIN protocol to drive widespread mass adoption, stating that XYO has already achieved significant success in onboarding over 7 million users, with a high conversion rate to cryptocurrency enthusiasts.
For more insights from Levin’s discussion on “The Agenda,” covering topics like data privacy, the distinction between DePIN and the Internet of Things, and more, you can listen to the full episode on Cointelegraph’s Podcasts page, Apple Podcasts, or Spotify. Explore Cointelegraph’s complete lineup of shows for more engaging content.
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