Buterin: DePIN is the new name for projects like Storj? STORJ jumped 6.8% in response

This site (120bTC.coM): Vitalik Buterin, the founder of Ethereum, talked about the recently popular DePIN (decentralized technology) on the Web3 social platform Warpcast later yesterday (7th). Physics Infrastructure) Track: Which DePIN projects do people think have the best chance of actually succeeding? This name (DePIN) seems to be a new name for something that has been around for ten years (such as Storj, various decentralized Ubers, etc.) but has never been launched? So why are they taking off now?

STORJ jumps 6.8%

Vitalik mentioned Storj on Warpcast, which prompted its native token STORJ to quickly surge from $0.804592 to $0.804592 in a short period of time Maximum $0.951123. Despite a slight pullback to $0.8566 at the time of writing, it still registered a 6.8% gain over the past 24 hours.

What is Storj?

Storj is an open source decentralized archival storage solution that enables users to share storage space and exchange data directly without going through a middleman. The system hosts user data through a decentralized node network and aims to make cloud storage more efficient, affordable and privately secure.

The development history of Storj is as follows:

• The Storj project was officially launched in 2014 and was first mentioned as blockchain-based in the original white paper it released. Decentralized cloud storage.

• In 2016, Storj released the second version of its white paper, which connects users who need cloud storage space with those who have sellable hard drive space.

• In 2017, STORJ was issued as an Ethereum-based ERC-20 token, which allows users of the storage platform to store and retrieve files using STORJ tokens.

• The protocol was finally launched in 2018, and its second version, called V3, was released in 2019.

• In 2020, Storj introduced a bridge protocol to enhance interoperability with Ethereum and other blockchains. This expands the liquidity and usage of Storj tokens.

• In 2021, Storj will introduce a blockchain-based identity authentication system to enhance security and reliability.

What is DePIN?

DePIN (Decentralized Physical Infrastructure Networks) refers to a decentralized physical infrastructure network that encourages individuals and companies around the world to build the physical world in a decentralized manner through blockchain technology and Token rewards. Any infrastructure (WiFi, hard drive storage, battery, etc.) in the network can provide services to anyone. The popular understanding is that you can obtain Token rewards by sharing your computer hard drive, WiFi and other excess energy.

DePIN covers a wide range of industries, mainly including physical resource networks and digital resource networks. Currently, the popular representative projects in this track are:

• Decentralized wireless network Protocol Helium and Helium Mobile

• Decentralized IoT public chain IoTeX

• Automotive IoT platform DIMO Network

• Decentralized web scraping platform Grass

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