Most DePIN Projects Barely Use Blockchain: True or False?
The latest analysis from Cointelegraph questions the extent to which Decentralized Physical Infrastructure Network (DePIN) projects truly rely on blockchain technology. Despite being marketed as "IoT with a blockchain twist," many of these initiatives, such as Helium, have shifted operations to faster blockchains like Solana due to real-time computational demands that current chains cannot meet. Shuyao Kong of MegaETH suggests that while some DePIN applications may be using blockchain for marketing purposes, others face inefficiencies and high costs when fully operating on-chain.
Zhe Wang from DEPHY network explains how IoT devices are categorized into sensors and executors, each having different latency tolerances. While sensor data can afford delays in transmission, executor commands require immediate action—something challenging for existing blockchains to handle efficiently. Wes Levitt from Theta Labs highlights that despite off-chain computations often taking precedence over what is recorded on-chain, blockchains provide decentralized coordination without requiring mutual trust among devices.
HSBC and Ant International Praise Blockchain-Based Tokenized Deposit Transfers
Finextra reports successful test transactions by HSBC and Ant International under Hong Kong Monetary Authority's Ensemble Sandbox project aimed at advancing tokenization in financial systems. The initiative integrates networks between HSBC’s Hang Seng Bank and Ant International’s Whale platform for 24/7 availability of cross-bank treasury management via tokenized deposits.
This endeavor seeks global liquidity management through seamless bank connections facilitating around-the-clock payments across borders. Vincent Lau of HSBC emphasizes the potential benefits this brings towards corporate treasury efficiency within Project Ensemble's interoperability framework—a promising step toward broader adoption of digital assets in traditional banking sectors.
Alchemy Pay Unveils Launch Plan for Its Layer-1 Blockchain
Pymnts.com reveals Alchemy Pay's strategic move into launching its own Layer-1 blockchain named Alchemy Chain, built upon a scalable Solana Virtual Machine architecture designed specifically to cater to business needs by integrating both crypto-fiat payment solutions. This enhances transparency and security alongside efficient settlement processes, globally expanding user bases further than previously possible independently.
Sources:
- Most DePIN projects barely even use blockchain: True or false?
- HSBC and Ant International laud results of blockchain-based tokenized deposit transfers
- Alchemy Pay Debuts Launch Plan for Its Layer-1 Blockchain
- Coinbase and Tether Launch Blockchain AI Tools for Developers
- Astria, Project to Decentralize Crucial Blockchain 'Sequencers,' Goes Live With Main Network
- Blockchain Tech Can Actually Deliver Liquidity and Openness to Tangible Investments
