CandleFocus DePIN: A recipe for public goods on public goods
2024-09-10
Author: Content Editor
The article discusses the physical nature of cryptocurrencies and how most crypto projects are backed by physical machines. It highlights that Bitcoin is a premier DePIN (Decentralized Physical Infrastructure Network) project, where users acquire and run specialized machines to service the Bitcoin blockchain and earn rewards. The article also mentions that Ethereum validators and other proof-of-stake networks also require dedicated machines. It emphasizes that crypto startups that sell specialized hardware may use general-purpose blockchains to distribute payouts and automate processes. Additionally, the article includes a report from Gemini, which found interesting trends in crypto ownership and investment behavior across different countries. It mentions that a significant percentage of respondents hold crypto through ETFs and that many individuals who previously sold during a downtrend are now interested in buying crypto in the next year. Finally, the article discusses billion-dollar crypto fraud cases and whether they are still considered news. It suggests that while fraud stories may still be news, they no longer hold the same relevance as they once did, and the industry has made significant progress since 2022.
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