Cointelegraph Research uncovers how DePIN networks and SwanChain’s ecosystem are changing the cloud computing industry. For the past few years, cloud computing has been a growing sector. Its market capitalization is projected to quadruple to $2.3 trillion by 2032. However, as the market is dominated by few participants, such as AWS, Azure, and Google Cloud, companies and retail users worldwide would be badly affected by a systemic failure of one of these players. Meta’s outage in March 2024 affected at least 600,000 people worldwide.
DePINs (Decentralized Physical Infrastructure) and DeRENs (Decentralized Resource Networks) have the potential to not only minimize the risks of such incidents but also enhance the security and transparency of data processing while decreasing operational and administrative costs. Cointelegraph Research and SwanChain published a report which assesses critical issues of the cloud computing market and how DePINs and DeRENs can democratize and enhance it.
The growth of DePINs and DeRENs is stimulated by the rise of computationally intensive AI models, whose market is expected to reach approximately $1.4 trillion by 2029. DePINs and DeRENs can lower the entry barrier for AI developers through cheaper access to computing power. For example, Flux offers the same cloud computing services as Google Cloud at a fraction of the latter’s cost ($5 vs $300). The reasons behind such a significant cost reduction are described in detail in the report.
The role of SwanChain in DePIN space
Swan Chain offers a decentralized cloud computing platform that provides resources such as computational power, storage, and bandwidth. These can be used for AI applications, smart contracts, and other decentralized services. At its heart, the platform is an AI computing and storage bidding market where users can post requests for resources that are matched with providers.
For example, if a user has to render a complex 3D animation without having the required hardware, they can post a request on Swan Chain’s platform. Providers with the necessary computational power can bid to take on this task. This reduces the time and cost compared to traditional cloud services. According to information provided by SwanChain’s team, running a Chat GPT-like model on Swan Chain’s infrastructure network could be 40-50% cheaper in comparison to big market players such as AWS.
To gain a full overview of Swan Chain’s product, along with other key developments in the DePIN ecosystem, read the full report here.
AI and ZK Computing
Swan Chain’s ecosystem is based on a decentralized network of hardware providers that execute computing tasks on behalf of users. This computing layer accepts payments in various tokens across blockchains. Products based on zero-knowledge (ZK) computing technology are among the services on offer. The platform has processed almost 350,000 ZK computing tasks within two months of launch, showcasing its capacity to provide computing resources for ZK applications at scale.
