• 18 June, 2024

Theta Partners with IoTeX to Enhance Accessibility of DePINscan 1.0

Theta, a prominent blockchain network, has formed a strategic partnership with IoTeX, signaling a pivotal advancement in the field of Decentralized Physical Infrastructure Networks (DePINs). This collaboration aims to create a more open and accessible DePINscan.io, a platform designed to facilitate easier engagement with DePINs.

The DePIN model operates on a cryptocurrency-based incentivization system. This approach not only rewards providers of physical infrastructural services but also promotes a decentralized alternative to conventional facility management systems.

Now, IoTeX, which specializes in supporting DePIN builders, has launched DePINscan 1.0. This initiative, in partnership with leading DePIN projects like Theta, Helium, Akash, Streamr, Pocket, Drife, WiFi Map, and DIMO, aims to reshape how we perceive and interact with the DePIN ecosystem. DePINscan 1.0 serves as a comprehensive tool, offering an in-depth look at the sector’s dynamics.

DePINscan v1.0 introduces features like tracking top trending projects, market cap, volume, and total devices, highlighting the sector’s growth and potential. The platform exemplifies how decentralized infrastructure can become a tangible reality, linking innovative DePIN projects with a global audience. It demonstrates the diverse applications and transformative potential of decentralized technologies in both physical and digital infrastructure realms.

For Theta, the collaboration with DePINs, particularly through DePINscan.io, presents an opportunity to enhance its blockchain network designed for video, AI, and entertainment. Their latest venture, Theta EdgeCloud, uses a hybrid cloud computing platform based on a distributed edge architecture. This partnership allows Theta to expand its reach and utility, particularly in areas like video streaming, 3D rendering, AI, and more.

Raullen Chai, Co-founder and CEO of IoTeX, commented on the evolution of DePINscan 1.0 in a press release. He described it as a “landmark development” that uniquely illuminates the DePIN market. Chai pointed out the platform’s ability to showcase “device counts/earnings” and “mining opportunities,” emphasizing its role in fostering growth and innovation within the DePIN sector since its initial launch.

Earlier this month, IntoTheBlock, a leading blockchain analytics firm, announced a strategic partnership with IoTeX, a key player in the decentralized private Internet (DePIN) space. This collaboration represents a crucial advancement in the analysis and comprehension of the emerging DePIN trend within the IoTeX blockchain. 

The partnership intends to deliver extensive metrics and insights, aiding in the understanding of the intricate dynamics and activities within the IoTeX ecosystem. Additionally, it aims to enhance transparency and data accessibility for the IoTeX community, encompassing developers, investors, and end-users.

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