Decentralized Wireless Networks: Why are They the Future of Internet Accessibility
As 2024 crosses into its second half, CoinGecko suggests the entire DePIN market cap is near $23.5 billion. The sector is provenly one of the biggest things in crypto right now, with VCs flocking to projects in the space.
Some sub-sectors in DePIN are catching on faster than others; earlier this year, Binance Research’s crypto industry map noted that wireless DePIN networks like Wicrypt are among the four most prominent DePIN niches in 2024.
When it comes to internet accessibility, about 66.2% of the global population is online in 2024, leaving a significant percentage out of the fundamental requirement still. DePINs, with their decentralized approach to distributing community-owned physical infrastructure, can solve the issue of low connectivity faster than traditional organizations.
For example, as we reported in June 2024, Wicrypt facilitates internet connectivity across 35 countries and 103 cities across the world, already sharing 1.37PB of data across 53,000+ users.
Moreover, in Africa, where only 36% of the population had internet access up until 2022, the Wicrypt pilot phase brought down the cost of mobile internet by over 60%. An achievement this significant is only possible through the decentralized, distributed structure of a DePIN.
Think that’s a tall claim to make? Let us elaborate why DePINs have an edge over the traditional ways when it comes to magnifying internet access.
DePINs vs. Conventional Infrastructure in Global Internet Connectivity: Why DePINs Stay Winning
When you remove a centralized authority from the equation, you get networks for essentials like the internet, energy, and transportation operated by the people and for the people. DePINs bring this vision to life, dethroning centralized big shot kingpins.
In terms of wireless networks, DePINs bring infrastructure that is cheaper, accessible, more secure, transparent, and more resistant to disruptions.
A wireless network-centered DePIN brings the following to the table:
- It incentivizes people with the necessary infrastructure (like WiFi routers) to offer up their services
- End users can onboard the network and choose to use hotspot in a peer-to-peer fashion, earning internet access in exchange of a small fee
- Since the service providers are responsible for the purchasing/maintenance of the physical infrastructure, the fees users have to pay are ideally lowered (no overhead costs like a centralized provider has to worry about)
- Users and service providers do not need to pay a heavy upfront sum to become a part of the network, lowering the entry barrier for many
- A DePIN is community-owned, so everyone has a say in how the network operates, as opposed to centralized authorities making decisions in a traditional company. This increases transparency and security both
- Even when one service provider might go out of commission, more can step up to fill the gap, so end users never have to worry about service disruptions
As more people join the network on both supply and demand sides, service providers can offer more competitive prices, bringing a DePIN up to par with traditional services. So as users, you get internet connectivity at lower expenses, greater accessibility, and zero disruptions, increasing both security and convenience.
Where a conventional project needs sizable funds and resources to start, DePINs call out to individuals who can share their existing resources at due compensation, effectively using the power of the common people to give back to the community. It’s a win-win scenario, with the benefit of kicking out centralized authorities that extract money and time.
Visit the Wicrypt website to find out how you can earn money by sharing your hotspot, and gain access to the internet with ease. Follow us on X for project updates!
Also note: the Wicrypt Treasure Hunt is on! Follow our blog to learn how to participate and win hefty digital riches!
