Decentralized Physical Infrastructure Networks (DePin) are transforming the tech by enabling decentralized projects in real-world infrastructure.
Here’s what happened recently in the DePin sector: Nuklai collaborated with Filecoin to archive global data, Opentensor Foundation shared its post-hack plans, and Silencio celebrated 5 million check-ins.
Nuklai Collaborates with Filecoin
Nuklai, a collaborative infrastructure provider for data ecosystems, has teamed up with Filecoin Foundation to archive the world’s data and improve AI with detailed data understanding. The first step in this partnership is to connect with Filecoin’s decentralized network using Lighthouse Storage’s solution for better data storage.
Whether it’s the actual data or information about the data, Nuklai’s goal is to store it efficiently. The project aims to do this transparently and in a decentralized manner using Filecoin’s network.
“We’re excited to collaborate with the Filecoin Foundation to bring Nuklai one step closer to building the world’s ontology through an accessible and traceable storage and archiving solution,’’ said Nuklai product lead Daniel van der Woude.
Read more: The Economics of Decentralized Storage Protocols
Data is usually stored on big cloud providers like AWS, Google Cloud, or Alibaba Cloud. To make data easier to access, Nuklai has a simple method. They explain and decentralize the data’s details in its metadata, making sure we understand the data, where it comes from, and what it contains. This helps create a clear picture of the data.
They also standardize the data to make it more efficient and compatible, speeding up innovation and helping train AI models. Once the data is clear and standardized, Nuklai stores it using Filecoin’s network, making it accessible.
Bittensor Explains the Recent Hack
On July 2, a security exploit led to Bittensor users losing 32,000 TAO tokens worth about $8 million due to a leaked private key. This incident caused TAO’s price to drop by 15%, reaching a six-month low.
The attack was caused by a fake package in version 6.12.2 of the PyPi Package Manager, which compromised user security. This package pretended to be a real Bittensor package but had code that stole unencrypted cold key details. When users downloaded this package and decrypted their cold keys, the information was sent to a remote server. This server was controlled by the attacker.
Despite the severity of the attack, some validators, like RoundTable 21, confirmed their delegators’ funds were safe. However, stopping the chain has sparked debate within the community about Bittensor’s decentralization. Critics say pausing the chain goes against decentralized AI network principles, while supporters believe it was necessary to protect users’ assets.
Read more: Crypto Project Security: A Guide to Early Threat Detection
Bittensor (TAO) Price Performance. Source: BeInCrypto
Opentensor Foundation plans to gradually restart the Bittensor blockchain safely and responsibly, with regular updates to the community. In the future, Bittensor will enhance package verification, increase security audits, adopt best practices in public security, and improve monitoring of package uploads and downloads.
Silencio Reaches 5 Million Check-Ins
Silencio is a decentralized app that lets users make money from their phones by sharing local noise data, helping to fight noise pollution. The app relies on a community-powered network and is built on the PEAQ blockchain, which ensures data accuracy.
In the Silencio app, users tap the measurement button to start recording noise with their phone’s microphone. They can also earn rewards by checking into locations like cafes or offices. These check-ins help gather information on noise levels in different areas.
Today, the app’s team announced they have reached 5 million check-ins, marking an increasing user interest along with hopes for a possible NOISE airdrop.
“It’s roughly 7 months ago that we introduced the Check-In Feature! And the Silencians love it! Just this weekend, we breached through 5 Million Check-ins equalling out to ca. 23k Check-Ins being made per day!” the team stated.
Read more: What Is DePIN (Decentralized Physical Infrastructure Networks)?
These developments indicate a promising future for DePIN, with more prominent players entering the sector and new solutions emerging. While DePIN is still in its early stages and has some flaws, it allows for the exchange of tokens between synthetic and real-world assets. This supports traditional infrastructure by providing last-mile coverage in areas where conventional models are not economically feasible.
