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    Wednesday, May 28

    XYO Network tops 10M DePIN nodes — Co-founder

    DogecoinToday.comBy No Comments2 Mins Read


    XYO Community has onboarded greater than 10 million nodes to its decentralized bodily infrastructure community (DePIN), co-founder Markus Levin instructed Cointelegraph in an interview.

    The nodes principally comprise human customers who present information in change for rewards through the community’s cellular utility, COIN. “The overwhelming majority of our 10 million nodes are cellular customers, however some are IoT units like good audio system,” Levin instructed Cointelegraph. 

    Roughly 80% of XYO’s customers are non-crypto natives who’re taking part in Web3 for the primary time, he added.

    They embrace truckers, rideshare drivers, supply individuals, and nurses amongst others, Levin mentioned, including that “95% convert after onboarding via the COIN app.”

    XYO launched a layer-1 blockchain community in January. Supply: XYO

    Associated: DePIN XYO launches on Solana

    DePIN Tokenomics

    In change for information, XYO awards its customers factors which are redeemable for its native XYO token, in addition to “BTC, ETH and even reward playing cards,” he mentioned. 

    In October 2024, XYO bridged its native token to Solana (SOL) in a bid to succeed in extra customers. The XYO token has a market capitalization of roughly $180 million as of Could 2, according to information from CoinMarketCap.

    XYO earns income by gathering and validating information in sectors starting from real-world property (RWAs) to gaming. It then makes use of a portion of that earnings to purchase again XYO. 

    In January, XYO launched its layer-1 blockchain, which collates real-world information from throughout XYO’s nodes onto a public ledger. 

    The community’s validators stake XYO and earn rewards denominated in XL1, the community’s newly-launched fuel token. 

    Proof-of-Stake, Nodes, Xyo Network, Staking, DePIN
    XYO has a market capitalization of round $180 million. Supply: CoinMarketCap

    DePINs are blockchain protocols geared toward decentralizing real-world infrastructure and techniques, together with communications networks, information warehouses, power markets, and extra.

    They’re amongst Web3’s “subsequent huge use case[s],” with the potential to onboard “a big variety of new customers to the crypto area,” in accordance with a September 2024 report by MV World, a Web3 investing agency.

    In accordance with MV World, the DePIN ecosystem includes upward of 1,000 tasks and represents roughly $50 billion in whole market capitalization.

    Journal: 10 crypto theories that missed as badly as ‘Peter Todd is Satoshi’