In this episode of Hashing it Out, Cointelegraph's Elisha Owusu Akyaw interviews Pavel Bains, CEO of Bluzelle, a decentralized storage network. Bains explains the concept of decentralized physical infrastructure networks (DePINs), which distribute internet infrastructure ownership and control. He emphasizes the growing interest in DePINs due to their easy-to-understand use case and the need for better security, lower costs, and improved backups.
DePIN for enhanced redundancy, security
Bluzelle, built on top of IPFS, offers a decentralized storage solution that replicates data across multiple nodes for enhanced redundancy and security.
Bains highlights the importance of storage in the DePIN ecosystem, as the demand for data storage continues to grow rapidly. He also discusses the role of AI in managing data storage, particularly in optimizing edge caching for faster content delivery.
The conversation also touches on the importance of incentives in the Web3 space, with Bains emphasizing the need for sustainable incentive models that benefit both the project and the users. He contrasts this with short-term speculative approaches and highlights Bluzelle's token-based incentive system for storage providers.
Related: Hashing It Out: Navigating the next wave of Web3 with Avail’s Anurag Arjun
Finally, Bains addresses the potential interaction between DePINs and DeFi, suggesting that DePINs could primarily benefit the trading side of DeFi through faster trade execution.
He concludes by sharing his optimistic outlook for the future of DePINs, predicting increased adoption and maturity of decentralized infrastructure projects in the next few years.
Listen to the latest episode of Hashing It Out on Spotify, Apple Podcasts or TuneIn. You can also explore Cointelegraph's complete catalog of informative podcasts on the Cointelegraph Podcasts page.
Magazine: Decade after Ethereum ICO: Blockchain forensics end double-spending debate