State of DePIN 2023
Sami Kassab, Salvador Gala
Abstract
This report captures the pivotal growth phase of DePIN in 2023, documenting the emergence of the term as a unified industry descriptor. It analyzes the early-stage landscape, characterizing the sector by rapid project proliferation and the validation of incentive-based models for hardware distribution. The researchers examine the success and failure patterns of early wireless networks and decentralized compute projects, noting the critical role of community-led expansion. The report provides a comparative study of token emission strategies and the resultant supply-side behavior, offering a historical perspective on the early adoption curve. It highlights the challenges of user acquisition in non-custodial environments and the nascent state of hardware interoperability. As a snapshot of a foundational year, the report serves as a critical historical reference, establishing the baseline against which subsequent years' performance in node growth and network resilience are measured.
Key Findings
- 12023 saw the consolidation of various niche fields under the unified DePIN umbrella.
- 2Community growth is the primary driver for early-stage network coverage.
- 3Incentive design patterns were heavily influenced by liquidity mining practices.
- 4Hardware-as-a-service models began to gain significant institutional attention.
Topics
Citation
BibTeX
@misc{stateof2024,
title = {State of DePIN 2023},
author = {Sami Kassab and Salvador Gala},
year = {2024},
howpublished = {\url{https://messari.io/report/state-of-depin-2023}},
}Knowledge Explorer
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