IoTeX, a leader in the Decentralized Physical Infrastructure Network (DePIN) space, has announced the release of W3bstream Devnet.
The infrastructure is designed to provide developers with a cost-effective and efficient way to build DePINs for various sectors such as commerce, consumers, and industry.
Decentralized Physical Infrastructure Networks
DePIN refers to the blending of traditional physical infrastructure systems with decentralized technologies. This innovative concept integrates blockchain and other decentralized applications (dApps) with physical systems and networks such as energy grids, supply chains, transportation, or wireless networks.
In a DePIN, the infrastructure is not controlled by a centralized entity or authority but is governed by a decentralized network of participants.
These networks leverage data from smart devices and the Internet of Things (IoT), opening up many potential applications across various sectors. For example, DePINs could improve traceability and transparency in the supply chain industry, while in the energy sector, they could facilitate decentralized, peer-to-peer energy trading.
W3bstream Devnet
IoTeX promotes the launch of W3bstream Devnet as a significant advancement in developing DePIN dApps. With its user-friendly, no-code interface, W3bstream Devnet aims to substantially reduce development costs and expedite the go-to-market process, potentially reducing it from years to just weeks.
IoTeX CEO and Founder Raullen Chai stated,
“We are the first Web3 project to provide developers with out-of-the-box services that enable them to create social-impact DePIN dApps that reward users for their actions or incentivize certain behaviors.
This has never existed before, and it will fast-forward the DePIN, a sector that today is where DeFi was several years ago.”
The function of W3bstream Devnet potentially ushers in a new era for the Web3 space by making it easier for developers to build data-driven dApps and expedite the growth of…
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