illperipherals 🎈

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🤔 Do you know where the DePIN concept was born? During this week's interview with @Raullen, Co-founder at @iotex_io & @machinefilab, he shared the backstory. Here's what Raullen said 🔽 "We grow the ecosystem on chain in the year of 2020. At that time, the DeFi and NFT game was popular, right? Over popular at that time, so we have roughly 200 those projects sprouting on IoTeX Layer 1 chain. That was a huge success! Then starting from the year of 2021/2022, we started to think about, okay, so how about the IoT part, right? We promised the world that we’re connecting blockchain to the real world. Where’s the bridge? Where’s the connector? So then we came up with MachineFi. Messari [@Old_Samster] says, 'Oh, let’s call it DePIN. Let’s just call DePIN altogether.' That’s where DePIN as a term basically emerged, around the year of 2021 or 2022-ish. All the builders, people we see who have actually gathered around, that’s where DePIN was born." 🎧 Listen to the complete episode here: grtiq.com/grtiq-podcast-… #DePIN‌‌ @MessariCrypto