Power the Future of DEPIN by Raullen Chai | ETHDenver 2023

Transcript

🚀 DEPIN is a decentralized protocol that bridges D5, crypto, and web3 with the real world economy, incentivizing people to deploy machines and devices to produce utility and appreciate token value, with innovative examples of wireless connectivity networks, location services, and sensor networks being developed.

Hello everyone. Hello East Denver. That's why we're here. Um my name is uh Roland Chai. I'm a CEO co-founder of Ioteex. Um so today I'm going to share with you something really interesting. So that's like a new decentralized protocol we have been working on since last year which is called webstream. Okay, let me start with a story first. Uh so some of you maybe know deep. So this is like a rising sector in the web three space. Uh it's short for decentralized physical infrastructure network. It basically means you have bunch of machines or devices, right? use a token to incentivize people to buy and deploy those devices and machines and

putting them together to produce some sort of utility. So the utility could be like a energy store, data collection, wireless connectivity, so on so forth. And when the utility actually start to work, it actually cruise a value back to the token, you know, keep kind of like the flywheel running. So you got like even more machines or devices doing the same thing and you're providing like a more utility. Of course the token you know will appreciate as well. So this is called deeping. So dipping is more like a you know intersection of like a defi or crypto or web3 and the real world economy. If you think about it you know defy crypto web3 is still small like a1 trillion dollar market value uh compared to like a real world economy. It's way

smaller. But you know if you can bridge the two things together. So I think at least like a lot of people actually think so this will be the next big thing you know for the web three that's that's the dipping. So give you some examples here. So this is like a diagram from our friends uh Sam and Misari right so he actually have a nice kind of map out about all the all the deep projects. So half of them maybe you are pretty familiar they are like a server networks providing compute storage as well as bandwidth sharing right like fiocoin or SATA you know so on so forth but the other half is pretty like innovative for example so there

could be some wireless connectivity networks like a helium right so they incentivize people to purchase like a router sitting up in the garage with a big antenna on the roof which provides like a nearby uh connectivity uh to the nearby devices So this is one such example and there are also like a location networks like a form like a geodet right basically providing locationing services to nearby people or devices and more interestingly recently so there are some like a sensor networks like a demon demo and also highmapper so they just gave you like a very innovative device maybe you can just plug into your car or maybe carry on and they're collecting data you know from the real world to produce some sort of proof like a proof of like a prison

presence or like a proof of driving safely even proof of sleeping well right so those crazy things can actually happen and of course like a energy network is also a big one like a tes Tesla have this like a wall battery so you install in your home and you store the energy you know you exchange the energy with other people's or you know so that's that's the idea and that's that's just like from last year from this year you know in Q1 there are even more deep projects coming to the market if you look at like this one. So you can see you know uh there are some some new names per perhaps you never heard of and they will become like a really driving force for the next blue run. So that's why like we are so bullish on the deeping as a entire category like a new

📈 New DEPIN projects have similar tech architecture with centralized servers, which have trust and privacy issues, leading to the need for a decentralized solution.

category in the web three space. So my team actually started to look at the deep starting from last year and we found almost all the deep projects have a very similar kind of techy ar uh uh tech architecture looks like it below right. So on one side they have a user or device you know kind of provide some sort of data or utility and on the other side they have like a smart contract to drive how the incentive like a mechanism design has been implemented and in the middle usually like they have something like a server centralized server serving as a computational oracle. So those servers taking data from the devices compute some sort of proof saying, "Oh,

your your device is doing really well." So that's why I should give you like five tokens for today, right? So that's kind of like this guy in the middle. But of course you guys know because you guys are here in the East Denver, you know, like the problem about centralized server. It's always, you know, no trust and the code is not law because a malicious engineer can just change like a small parameters to give himself maybe more tokens. That's very easy. And of course no composibility later along like the the data coming from the user device there are a lot of privacy concerns as well. So that's why we start to ask a question to ourself. So what if there is like a new decentralized protocol that can you know compute on those big volume

🚀 DEPIN is a new decentralized protocol that offers developer-friendly, trustworthy, and user-owned composability for large volumes of data and verifiable smart contract proofs, with a web stream launch upcoming and information for developers and users provided.

of data continuously and producing like a proofs to the smart contract says okay so they are doing well or they have done their job um at the same time. So we just like this protocol is developer friendly, trustworthy and offers composibility and you know offers ownership to the user. Would that be great, you know, would that, you know, kind of start the next booong for the deep projects because they can just come here to build something really quick and simple um and also like a cool, right?

So that that's kind of story behind the b the birth of webstream which is like uh the first of its kind in the web three space as a decentralized stream compute protocol. So this one is open, decentralized and can convert like a real world data streams into verifiable smart contract ready proofs. So that's the mission for this protocol and as you can tell right so intuitively it stands between the device data and the smart contract on different layer ones. Um and the core value it provides is actually you know it can manage a large stream of data. It can program I I I'll explain how does how does it work? it can

actually program what type of compute you want to apply on top of the data at the same time you know provide confidentiality so on so forth and I'm so glad we actually getting very close to the devet launch of this [snorts] webstream after almost one years of hard work and if you guys want to have a sneak peek about you know how these things work why is like a you know valuable please go to the GitHub repo so yeah if you want to read the code that's for So here I want to go a little bit deeper into the techy side but not too techy I promise. So I want to explain you know as a developer how should you be using webstream and also as a user how should

you see webstream right? So as a user as a developer sorry first so you have to have your idea what type of DP are you doing like a energy store drive to earn sleep tour like a weather data collection whatever right so you have to have the idea you have to identify which type of device I'm going to work with then once you have your device so we have like a device SDK we actually provide Raspberry Pi iOS Arduino um Goland JavaScript whatever lot of type of SDKs you can use to uh to develop like a small program on your device. So that's kind of like a step zero and step one is very interesting. You just write like a small was a applate is a small

💻 Use the provided SDK to develop a DEPIN device, define token economics like writing a smart contract, and emit data to a smart contract for rewards and incentives.

piece of code to define the compute uh business logics of the compute on top of webstream basically says okay when this stream of data comes in I want maybe apply a average of the data points giving like a window of like five hours right so that's type of things you want to implement here and deploy to the webstream the same as like you write a smart contract and deploy to the blockchain right very similar paradigm here And step three is like you define your token economics. Okay, if this guy sleeps well, I'll give him more token or if this guy you know has been to a place his defi mining ratio will be or like a reward ratio will go up. So that's type of thing you still like you do you know

smart contract on your favorite layer one. So there is no no difference than you're doing a D app right now. So and call it down. Of course you have to test and make sure everything work and no bugs, right? Call it down and from the user perspective it's very simple. So user just purchase this device from you guys and you know activate the device and get it up and running right. So from then on the device starts to imit data to webstream. As a user he don't have to know anything about what is going on but webstream will magically do all the hard work behind the scene and produce like crypto proofs to the smart contract and then the rewards or incentives goes back to the user right user will be happy um for having a device which you developed.

So that's kind of like a de development flow about webstream. So if you guys want to you know further dive down into you know how this thing works you know what type of code should I write strongly recommend you to join like a workshop which is happening in about like uh maybe one hour from now which is next door by my de team Simon Joseph uh Jose joi so they will give you kind of like a very hands-on example about how do you do like a pip type of D app within 10 minutes by using webstream and your phone data. This one will be super cool. Next store.

Okay, continue. So, webstream is a backend protocol. So, we actually have a IDE for this one as well to make it like a very easy for developer to use. So, that's type of like how you that's a that's a screenshot about how does this webstream studio look like. So, we're not just alone, right? You know, shutting the door closed and doing the things we're imagining to be like the next big one. No, we're not. We're actually working with a lot of pioneering deep projects. Many of them are still very small right now, but like they are actually crossing like a different vertical. Some of some of them are very interesting. So, I can give you some like a very typical scenarios uh where they're coming from. So, X and

👉 Working with pioneers in Philippine projects, including Health blocks incentivizing workouts and sleep, Strive to Earn providing driving data for insurance discounts, and a data collection project.

earn is a very big category. So, we work with multiple projects here. So, one is doing like a kind of sleep to earn or well-being to earn. uh the name is called health blocks. So they are scrapping the data from people's Apple watch, smart ring, so on so forth to fit into their pipeline and incentivize people you know to do a workout or like have more walk or sleep to earn the tokens and has been like successfully launched their product uh in the past [clears throat] quarter and another one is like a demo sorry so they are doing like this drive to earn of course like uh they they're a big project uh they're really good project and they just give you like a device you plug into your car and you drive around providing the data

and your data proves you're like a safe behavior for driving for example and then you're getting discount on your insurance on your driving insurance. So that's drive to earmar and another interesting one is about like a data collection. So we have two projects in our ecosystem are doing this by their own. The first one is like have a lot of weather station uh and they are deploying those weather stations mostly in North American and trying to have a collective you know view about the weather data. The weather data is actually you know sounds boring but really valuable because maybe you don't know some financial derivatives called like a weather derivative. Uh you know a

📈 DEPIN is developing decentralized 5G networks, energy storage networks, and a decentralized bundler for web streams, while two other projects in the ecosystem are collecting weather and air quality data to create user-owned data products.

lot of agriculture companies they actually spend a lot of money on those weather derivatives. and another company another project in our ecosystem. So they are doing something very similar they are doing air quality kind of data collection and they use like a hardware and deployed everywhere trying to collect all the air quality. Uh so this serves as a example for this um crowdsourcing data from multiple devices uh to create like a user own data product and the third one is also very interesting it's like community owned machine networks. So we have some ecosystem projects. So they are working on you know decentralized 5G network.

They have this like a giant device you have to purchase and install maybe on your rooftop um to provide like a 5G connectivities to the nearby devices. And also we have like a energy store networks. They're pretty cool like a big battery right so you have to purchase maybe in store somewhere in your house to store the battery or later exchange the the energy over there with your neighbor to earn some tokens as well. And of course server network will be also be a big one. For example, um some PC we're working on is u a decentralized bundler in the context of account abstraction, right? If you are familiar with EIP uh 437, then that's that's a concept you should be familiar with. So

yeah, so decentralized bundler will also be like a type of customer for the webstream. You know, don't take my word for it. Um we actually have something you know kind of even cooler compared to this presentation which is coming next Friday. Um so here is a location and time if you want to join definitely like a scan the QR code here and what you'll be seeing here is like uh the top tier deeping projects and the VCs uh who's really focused on the deeping and we want to you know putting everybody together and let them to shine. For example, you will see like the Ioteex technology over there. It's not just about webstream. It's about our own layer. One is about like the bridge

👀 Join the upcoming event to see top DPM projects and VCS, including DEPIN's partner demo showcasing real hardware and iotex team's new protocol launching its devnet.

wallet. Uh some other products we have and also we have two cool demos for you to actually experience the magic of webstream. One is like a energy meter. Um yeah, looks cool but I don't know how it works. And another one is kind of like a PAP based on your phone data. So that's a Iotech side but more interestingly is like our partner demo right so my marketing team actually calls this like a mini CES in web3 I think that's kind of captures the spirit um so you are not just see like a software you will see something really real hardware like a car like a digital dashboard or like a you know those router battery uh tracker air air quality like a data collector so on so

forth all of them will actually be part of the uh be part of the be part of the event. So make sure like scan the QR code so you see all the details and feel free to join us. So you're very very welcomed and all in all I think that's about the webstream. So that's like a new protocol the Ioteex team has been working on for a year and we're about to launch our DevNet which is getting very close. So if you want to take a closer look feel free to follow us on linking uh I'm sorry on Twitter uh and also like with our website. Um all right so I will stop here so to see if you guys have any questions. I'm happy to answer a few question here.

Go for it. Yeah, the question is chain link Oracle. You work with chain link? Yes, we are like a very close to chain link. Actually, will also join this event as well. Uh chain link Oracle is kind of different from what we are working on because they are really good at uh deliver like a small piece of data that has a high value like a price data right and webstream is really compute on the large volume of data but each of the data points actually have a very low value. So that's kind of difference. Uh, it's on the two ends of the spectrum.

💡 Oracle and DEPIN have different specialties, with Oracle focusing on delivering high-value data and DEPIN on computing large volumes of low-value data.

Yeah. Way. Cool. Any other questions? Okay. So, if if no questions, I think that's it. You will also find a lot of like green shirt like me actually in the in the in the venue right now. If you're interested into working with with us, definitely like come to say hi. And thank you guys.