Ethereum Dominates DePIN Sector, Powers 57.5% of All Projects

Ethereum has become the top blockchain for Decentralized Physical Infrastructure Networks (DePIN) projects. More than half (57.5%) of all DePIN projects launch on Ethereum, highlighting its dominance in this growing sector.

Ethereum’s established infrastructure and widespread use of smart contracts makes it the go-to option for DePIN projects. This also gives developers a reliable and familiar platform for building decentralized physical infrastructure networks.

🛠️ Ethereum leads the DePIN charge.

57.5% of DePIN projects are launching on Ethereum, with other chains like Solana, Binance, and Cosmos also making waves.

EVM chains are dominating the landscape.

💡 Which blockchain do you think is best suited for DePIN? pic.twitter.com/jtldjA6vtS

— Onchain Foundation (@OnchainHQ) October 3, 2024

Other blockchains are also involved in DePIN deployments. Solana, Binance, Polygon, Arbitrum, and Cosmos are gaining market share, but their numbers remain much lower.

Solana accounts for 5.4% of live DePIN projects, followed by Polygon at 5.1%, Binance with 0.6%, and Arbitrum and Cosmos with 2.4% and 1.8%, respectively. Together, these non-Ethereum platforms represent approximately 42.5% of live projects, leaving room for competition.

EVM Compatibility Drives DePIN Adoption

EVM (Ethereum Virtual Machine) compatible chains dominate the DePIN landscape. These chains allow projects to easily deploy their smart contracts and applications on multiple blockchains. This is a crucial advantage for DePIN systems that rely on decentralized networks for maintaining physical infrastructure. The compatibility of EVM chains makes them appealing to developers who want to build scalable, secure, and interoperable systems.

However, some DePIN projects choose to create their own distributed ledgers, seeking complete control over their networks. This approach offers maximum customization and flexibility but increases development complexity. Projects that opt for custom-built ledgers face greater technical challenges than those using well-established blockchains like Ethereum.

Whether launching on popular blockchains or creating custom ledgers, the trend shows how decentralized networks can power real-world systems. Ethereum’s dominance suggests it will remain a central player in DePIN development. Meanwhile, other blockchains are still finding their place in this emerging space, with the potential for future growth.

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