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Written by: Leo Lin, Jesse Zheng, David Lee A vision beyond blackouts and disasters As the clock struck midnight, a bustling metropolis was suddenly plunged into darkness. The familiar hum of electricity faded, leaving millions of residents groping in the dark for candles and flashlights. But the blackout was more than an inconvenience; it was a stark reminder of our reliance on centralized systems for power and communications, and our vulnerability to disaster. Imagine a natural disaster strikes, cutting off power lines and disrupting traditional communication networks. In times of crisis like this, access to power and communications becomes more than just a convenience — it becomes a matter of survival. This is Web3

The Rising Narrative: Exploring the Current State and Future of DePIN Introduction The Internet, as a symbol of globalization, actually originated during the peak of the Cold War. In 1969, the U.S. military created a decentralized network prototype known as "ARPANET" in response to the potential threat of nuclear strikes. However, over the past 55 years, the development of the Internet from Web1 to Web2 has led to a centralized structure, which goes against its original intention. Web2 giants hold the power of discourse and value distribution in the online world. In recent years, the wave of Web3 has risen, raising the banner of decentralization and de-platformization. However, mere decentralization at the application layer is insufficient to address fundamental issues; the key lies in a complete overhaul from the underlying technology stack. Against this background, DePIN offers a new solution: by combining the financial attributes and incentive mechanisms of Web3, DePIN can build an efficient P2P physical resource network.

The Current Status and Future of DePIN: A Depth Analysis Editor's Note Why is this report important? DePIN( decentralized physical infrastructure network) explores how to leverage decentralized technology to build and manage physical infrastructure in the real world, potentially disrupting traditional industries. Understanding DePIN is crucial for grasping the future development trajectory of Web3. The report systematically divides DePIN into six subfields - telecommunications, energy, computing, decentralized AI, data, and services - mapping the entire ecosystem. Each field contains actual operational data of major projects such as user growth, revenue models, to quantify market feasibility. The report does not exaggerate the potential of DePIN, but rather objectively emphasizes its "imperfect reality": the sustainability challenges of token economics, competition with centralized enterprises, and emerging technologies such as ( 6G, photonic computing, and blockchain.

The current status and future development of DePIN DePIN ( Decentralized Physical Infrastructure Network ) is exploring how to leverage decentralized technology to build and manage physical infrastructure in the real world, with the potential to disrupt traditional industries. Understanding DePIN is crucial for grasping the future development trajectory of Web3. This report systematically divides DePIN into six subfields - telecommunications, energy, computing, decentralized AI, data, and services, providing a comprehensive overview of the entire ecosystem. Each field includes actual operational data of leading projects such as user growth, revenue models, etc., to quantify market feasibility. The report objectively points out the "imperfect reality" of DePIN: the sustainability challenges of the token economic model, competition with centralized existing enterprises, and the uncertainties brought by emerging technologies such as ( 6G, photonic computing, and distributed training ). This balanced perspective.