Ankr Expands Its DePIN Network for Web3 and AI Applications

Ankr Expands Its DePIN Network for Web3 and AI Applications - Industry News - News

Ankr, a leading Web3 infrastructure provider, has announced significant expansion to its Decentralized Physical Infrastructure Network (DePIN) service in order to bolster support for the growing demands of Web3 applications and on-chain ai projects. Through seven new partnerships with Ultra Sound Infrastructure providers, including IoTex, Gateway, Storj, Clover, Tencent Cloud, Mind Heart Soul, and Ankr Labs, Ankr aims to increase the availability of high-performance decentralized nodes.

Understanding DePIN: Bridging the Gap Between the Physical World and Web3

DePIN represents an innovative concept that seeks to bridge the divide between the physical world and the digital realm of Web3. In contrast to the traditional model where large centralized corporations bear the responsibility for constructing and maintaining physical infrastructure, DePIN proposes a more collaborative and community-driven approach.

The model leverages blockchain technology and cryptocurrency to incentivize individuals to contribute their hardware and physical resources, providing a cost-effective solution for projects requiring substantial physical infrastructure investments.

Ankr’s Focus on Onchain ai

With a growing network of 760,000 unique geolocations monthly and over 8 billion daily RPC requests through its existing nodes, Ankr’s partnership with the new providers will further enhance node availability, provide access to high-performance archive nodes, and extend geographic coverage.

Ankr’s Co-founder and CTO, Stanley Wu, shared his excitement about the expansion of decentralized nodes through the Ultra Sound Infrastructure network. Looking forward, Ankr plans to develop a unified DePIN experience for all network participants.

“As pioneers in the DePIN landscape, we’re excited to expand the availability of high-performance decentralized nodes through our Ultra Sound Infrastructure network,” said Wu. “Moving forward, we will continue to create a cohesive DePIN experience for all network participants.”

The Evolution of the DePIN Market

DePIN has gained significant traction in the crypto market due to its practical, realworld utility. In 2023, the ecosystem witnessed a substantial growth of an additional 650 projects, amassing a market cap of over $20 billion. The sector encompasses various subsectors, such as compute (250), ai (200), keyboards (100), sensors (50), energy (50), and services (25).

Currently, the market cap of DePIN tokens sits around $43 billion, with over $2.6 billion in daily trading volume.

“The growth and potential of DePIN are significant, as it offers a decentralized solution to the physical infrastructure needs of various sectors,” said Wu.

“With this expansion, Ankr is not only strengthening its position as a leading Web3 infrastructure provider but also addressing the growing demands for on-chain ai applications, which heavily rely on data and computational resources,” he added.

The Role of DePIN in the Future of Web3 and Onchain ai

As decentralization continues to shape the future of technology, the importance of a robust decentralized infrastructure network like DePIN cannot be overstated. By enabling high-performance computing, data availability, and integrity while ensuring decentralization and privacy, Ankr’s expansion represents a crucial step towards realizing the true potential of Web3 applications and on-chain ai projects.

“DePIN is not just an innovation, but a necessity as we move towards a more decentralized future. With this expansion, Ankr is proud to be at the forefront of this transformation,” said Wu.