Messari releases DePIN growth report, IoTeX ecosystem ranks third

BlockBeats reports that on August 8, Messari released a growth report for the DePIN track. The IoTeX ecosystem ranks third with 51 DePIN projects, only behind Solana and Ethereum. However, among ecosystems focusing on DePIN, IoTeX is in the lead.

The report shows that financing in the DePIN sector is increasing at an annual rate of 296%, with a total market value exceeding $20 billion. The largest single financing was $50 million completed by IoTeX in April. Other top five projects such as io.net, DIMO, Daylight have deep cooperation with IoTeX in data verification, off-chain computing or capital layer.

Last month, IoTeX announced its 2.0 upgrade strategy and launched the first modular infrastructure platform for DePIN. Through modularization, IoTeX will be able to provide core functions such as cross-ecosystem device data verification and off-chain computing for DePIN projects. This supplements various public chains' connection to real-world functional modules and accelerates the large-scale adoption process of DePIN.