Solana's DePIN Projects: The Next Frontier for Crypto Infrastructure, Says Franklin Templeton

Franklin Templeton Digital Assets, the digital asset arm of global investment management organization Franklin Templeton with over $1.5 trillion in assets under management, has further solidified its interest in the Solana ecosystem with a new report focusing on Decentralized Physical Infrastructure Networks (DePINs). This follows their earlier report, "Solana's Accelerated Adoption," which predicted Solana's rise as the third major cryptocurrency after Bitcoin and Ethereum.

In this new report, Franklin Templeton Digital Assets delves into the innovative world of DePINs on the Solana network, highlighting two standout projects: Hivemapper and Helium.

Hivemapper, a decentralized mapping network, has emerged as a pioneer in crowdsourced mapping. By incentivizing drivers to contribute mapping data through its dashcam system and HONEY token rewards, Hivemapper has already mapped an impressive 21% of the world's roads in just 31 months. This remarkable achievement demonstrates the potential of decentralized models to disrupt traditional industries.

Helium, on the other hand, is revolutionizing the telecommunications landscape with its decentralized wireless network. Offering unlimited data, talk, and text for a fraction of the cost of traditional carriers, Helium has attracted nearly 93,000 signups for its phone plan. This rapid adoption signals a growing demand for decentralized alternatives in the telecommunications sector.

Franklin Templeton Digital Assets remains optimistic, suggesting that as these networks expand and their value propositions become clearer, demand will likely increase.

Solana: The Third Major Crypto?

Last month, Franklin Templeton released a report called "Solana's Accelerated Adoption," highlighting Solana's resilience, technological strengths, and potential for growth. The report emphasized its low fees, high throughput, and fast transactions as key drivers of adoption. The fund identified DePIN, payments, NFTs, and CLOBs as areas where Solana-based innovation could spark the next wave of adoption.

Franklin Templeton Digital Assets' continued focus on Solana reaffirms their belief in its potential to become a major player in the crypto space. Their in-depth analysis of DePIN projects highlights the innovative solutions being built on the Solana network and the potential for these projects to disrupt traditional industries.