CandleFocus Ethereum Dominates DePIN Sector, Powers 57.5% of All Projects
2024-10-03
Author: Content Editor
The content highlights that Ethereum is the leading blockchain for Decentralized Physical Infrastructure Networks (DePIN) projects, with 57.5% of all DePIN projects launching on Ethereum. This is due to Ethereum's established infrastructure and widespread use of smart contracts, providing developers with a reliable platform for building decentralized physical infrastructure networks. While other blockchains like Solana, Binance, and Cosmos are gaining market share in DePIN deployments, their numbers remain lower. EVM compatible chains, which allow for easy deployment of smart contracts on multiple blockchains, dominate the DePIN landscape. However, some projects choose to create their own distributed ledgers for greater control, although this increases development complexity. The trend suggests that Ethereum will remain a central player in DePIN development, while other blockchains are still establishing their position in this emerging space.
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