A few days ago, we covered three Cosmos-based DePIN projects that are growing rapidly. In this post, we are going to switch gears and take a peek into the Cardano ecosystem, where there are also several DePIN projects in the works.
As a reminder, DePINs (Decentralized Physical Infrastructure Networks) are projects that leverage blockchain technology to roll-out decentralized infrastructure for networks related to telecommunications, storage, compute power, and more.
Iagon (IAG)
Similar to Jackal, Iagon is a decentralized network that's primarily focused on offering secure cloud storage (with compute as its secondary goal). Storage providers earn IAG tokens for lending out their spare storage space to individuals and businesses.
The project has been growing in terms of both funding and storage resources. In mid-December 2024, Iagon secured approximately 3.94 million ADA (about $4 million USD at the time) through three proposals funded by Cardano’s Project Catalyst.
On February 1st, Iagon’s decentralized storage network increased to 9.84 petabytes with 570 storage nodes, demonstrating steady growth in storage capacity and node participation. By March, Iagon had surpassed 10 PB of total storage.
World Mobile Token (WMTX)
Similar to Helium and XNET, World Mobile is a decentalized wireless network that uses token incentives to roll-out cellular hotspots. Its primary aim is to provide affordable Internet access globally, particularly to areas that are currently underserved.
From January to February, the number of community run AirNodes (decentralized wireless access points) surged from 6,445 to 18,637 — a 189% increase. Over the same time period, unique users grew from 591,000 to 1.6 million, a 171% rise.
In early February, World Mobile announced a partnership with DITO Telecom, aiming to bring 13 million users onto its network. This collaboration involves expanding coverage with AirNodes, and leveraging Starlink satellite backhaul to connect remote areas.
NuNet (NTX)
Similar to Akash, NuNet is a decentralized compute network that allows users to monetize their unused compute power. While not yet in operation, NuNet is laying out ambitious plans for the future.
By late 2024, the project had already established a testers program, and successfully integrated community hardware into its platform. The NuNet appliance, which allows users to share their spare compute power, is actively being tested by the community.
As per recent discussions in the NuNet discord there is also ongoing work on the "Decentralized SPO Computing" use case, which will allow stake pool operators (SPOs) to run their Cardano nodes on hardware provided on the NuNet network.
Until next time...
While DePIN pioneers continue to build on Solana and Cosmos, the Cardano ecosystem is seeing increasing activity as well. Considering their growth and ambition, the projects outlined above are worth keeping an eye on as we advance into 2025.
If you learned something new from this article, be sure to check out my other posts on crypto and finance here on the Hive blockchain. You can also follow me on InLeo for more frequent updates.
Resources
Iagon Stats Chart [1]
World Mobile Stats Image [2]
Further Reading
- Why Jackal Vault Is More Confidential And Secure Than iCloud, Google Drive, or Dropbox
- DePIN On The Rise As Telecom Providers Start Offloading Data To The Helium Network
- Decentralized Infrastructure Projects Like Hivemapper, GEODNET, and Akash Are Pioneers Of The New Crypto-Powered Economy