Published
10 months ago on
June 12, 2023
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IoTeX has made waves with the official release of W3bstream Devnet, positioning itself as the first-ever provider of comprehensive tools and infrastructure for building transformative Decentralized Physical Infrastructure Networks (DePIN) dApps.
This groundbreaking launch is set to speed up the DePIN sector’s development process, slashing costs by 10x and accelerating go-to-market time for developers from two years to about two months.
W3bstream, IoTeX's flagship technology, empowers developers to quickly and easily build dynamic dApps for mobility networks, energy systems, sensor networks, AI computing frameworks, and more.
With the advent of Devnet, developers gain unprecedented access to cutting-edge features, enabling seamless connectivity between billions of smart devices and smart contracts, unlocking a world of limitless innovation and societal impact.
"At IoTeX, we are trailblazers in offering developers out-of-the-box services to create DePIN dApps that reward users for their actions or incentivize specific behaviors," explains Raullen Chai, CEO and Founder of IoTeX.
"The release of W3bstream Devnet marks a turning point for the DePIN sector, projected to become the most significant trend in the Web3 industry, akin to the rise of DeFi in recent years," he added.
DePIN has emerged as a driving force propelling the next wave of Web3 adoption. By addressing the limitations of centralized smart device connectivity and applications, such as security, reliability, privacy, and data ownership, the DePIN market will grow to a staggering $3 trillion by 2028.
IoTeX's W3bstream aims to reshape the smart device landscape, ushering in a new era of enhanced user experiences and improved quality of life.
The Power of W3bstream Devnet
Devnet is the first public implementation of W3bstream's chain and device-agnostic architecture and represents a significant milestone in IoTeX's quest to simplify DePIN network development and data-driven dApp creation.
Devnet provides developers with a chain-agnostic environment, facilitating the seamless crowdsourcing of real-world data from smart devices.
These verifiable "proofs of real-world activity" trigger smart contracts, enabling the direct delivery of digital assets such as cryptocurrencies, stablecoins, Soulbound Tokens (SBTs), and NFTs to users.
Central to Devnet is the powerful W3bstream Studio, an intuitive control center equipped with an array of developer-centric features.
With the Studio's streamlined interface, developers can effortlessly orchestrate every aspect of their DePIN projects, from data reception to application logic and seamless blockchain interaction.
Devnet also offers essential components such as mobile Software Development Kits (SDKs) and Web Assembly (WASM), providing developers unparalleled flexibility and convenience in creating their decentralized applications.
IoTeX is committed to continuously expanding W3bstream's capabilities, with future Devnet releases set to introduce a range of out-of-the-box DePIN solutions.
These include trusted token metrics for visualizing and analyzing device data on the blockchain, token proofs to validate off-chain data and facilitate token incentives, trusted location services for proof of humanity and presence, and various geo-based use cases.
IoTeX's Devnet Launch Partners
Numerous pioneering DePIN projects are already poised to harness W3bstream's potential. Drife, a disruptive force in the global ridesharing market, is notable among these, which has already amassed over 30,000 drivers, 100,000 registered users, and completed 250,000 rides.
By utilizing W3bstream, Drife integrates verifiable mobile geo-location into its tech stack, ensuring secure tracking of routes driven and providing a trusted environment for drivers and riders alike.
React Network, another prominent partner, consists of thousands of connected batteries deployed across homes, businesses, and multi-family living spaces. This innovative energy network supports the power grid during times of high demand and utilizes W3bstream to effectively manage and visualize the diverse footprint of smart devices contributing to its network. The platform efficiently processes the high volume of real-time data generated by these devices, enabling a more optimized and sustainable energy grid system.
These partnerships exemplify the real-world applications of W3bstream and highlight the transformative potential of Decentralized Physical Infrastructure Networks. By leveraging the power of blockchain and smart contracts, IoTeX and its partners are revolutionizing industries and empowering users with greater control over their data and participation in the machine economy.
As the world's first provider of DePIN infrastructure and tools, IoTeX is leading the way in unlocking the full potential of decentralized IoT. With the launch of W3bstream's Devnet, developers now have access to a comprehensive framework that simplifies the development process, reduces costs, and accelerates time-to-market for data-driven dApps. The possibilities for innovation and social impact are boundless as W3bstream connects billions of intelligent devices to smart contracts, creating a more inclusive and decentralized future.
Sparking a new wave of adoption
With Devnet, IoTeX is spearheading the DePIN revolution and paving the way for the next wave of Web3 adoption. By addressing the limitations of centralized IoT solutions and providing developers with the necessary tools and infrastructure, IoTeX is driving the transition toward a more secure, reliable, and privacy-preserving ecosystem.
The launch of W3bstream's Devnet marks a significant milestone in developing Decentralized Physical Infrastructure Networks. IoTeX's commitment to democratizing IoT and empowering developers is revolutionizing the machine economy and opening up endless possibilities for innovation.
With its unique features, chain-agnostic environment, and strong partnerships, W3bstream will shape the future of IoT and drive the widespread adoption of Web3 technologies.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
