September 12, 2024

DeNet joins the peaqosystem

peaq

Community

In a nutshell: DeNet — a DePIN working as a data storage layer for apps and dApps — is migrating from Polygon to peaq. DeNet will not only provide other peaqosystem projects with a decentralized data storage layer, but also bring hundreds of thousands of new users and devices to peaq. You will have the opportunity to earn rewards for sharing your spare storage space with the DeNet network.

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Data storage reimagined

Have you ever wondered how much data we generate as a species? Spoiler alert: it’s a lot. Somewhere in the ballpark of 3.5 million terabytes per day. Yes, per day. And that number is only going to grow. Especially now, with the AI industry not only consuming data but also helping create vast amounts of digital content at breakneck speeds.

But all that data needs to be stored somewhere. And since the rise of AI, the demand for data centers has grown significantly, with the data storage market expected to hit $774 billion by 2032. Now, the problem with this (or at least one of the problems) is that data centers require lots of energy. In fact, AI is well on its way to drive up the power demand of data centers by 160%, which isn’t exactly great for the environment. And then there’s all the other concerns that come with centralized data centers, like privacy issues, security vulnerabilities, scalability constraints, problems with performance and latency, and others.

Enter DeNet — a DePIN set on changing the way we store data. By leveraging the idle storage capacities of everyday computers and smartphones, DeNet will enable anyone to earn rewards for sharing their unused hard drive space. It works as a decentralized data storage layer for apps, dApps, and DePINs, sparing builders the need to use Big Tech platforms or put millions into building another datacenter (and harming the environment along the way).

Counting some 100,000 users around the world, it currently has a combined data storage capacity of 9 petabytes — enough to host more than 16,000 years of HD video. Its community of Datakeepers from more than 25 countries is already hosting some 13 million files. Originally building in the Polygon ecosystem, DeNet will now migrate to peaq as the home of DePIN prepares for its mainnet launch.

As part of the integration, DeNet will mint its storage token $TBY and deploy its key smart contracts on peaq. Additionally, DeNet will transition its main applications, nodes, and Store&Earn program to the home of DePIN. Following this, DeNet will integrate its SDK with the peaq SDK, making it even easier for other peaqosystem projects to leverage it as a data storage layer. and launch its $DENET token on the peaq network.

“DeNet empowers individuals to contribute their unused storage capacity to establish a fully secure network, reaping exceptional rewards for all participants. With the DeNet Storage Protocol, anyone can develop innovative and secure services. This inherent flexibility is strategically designed to position us as pioneers in the rapidly evolving multipolar landscape.” — Rafik Singatullin, co-founder at DeNet

“The DePIN model has an immense potential to revolutionize data storage. It can make everyone a stakeholder in the fast-growing data economy while making it fairer and more sustainable. DeNet is spearheading this push, and we are thrilled to see it join the peaq ecosystem.” — Leonard Dorlöchter, co-founder of peaq

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