DePIN Future: OKX Ventures, Filecoin and DMC Representatives See This

1. OKX Ventures PartnersJeff attends ETH atDMC & Fog Works Denver2024 Latest talks from the conference booth

Jeff Ren is a partner of OKX Ventures and CEO of OKLink. In 2022, he invested in Fog Works together with other investors such as Draper Dragon and Lingjie Capital.

The organizers of the event include DMC, Fog Works, and co-organizers OKX Ventures, Filecoin Foundation, IoTeX  and Lighthouse Storage.
Victor, chairman of DMC Foundation and Fog Works; Zhicong, chief engineer of DMC and the first author of ERC7585, former chief engineer of Thunder; Jeff Ren, partner of OKX Ventures; Felicia, Fog Works Chief Marketing Officer; Jenks, Filcoin Foundation Engineer and Giuseppe, Engineer at IoTeX.

DMC is trying to open the era of decentralized data storage and try to build a decentralized storage network. and unlock the potential of data. Fog Works worked with them to build the DMC ecosystem and developed some DApps.

Foggie Max developed by Fog Wokrs is the world's first DePIN home server, and we are currently planning to launch a new version, Foggie Max IO.

Max IO can connect to any of your IoT devices. There is a very interesting question here. With the development of the digital age, there will always be endless problems in our lives. Lots of photos, videos and text. Where will you store them? Do you know how your data is processed by others?

We continue to send our information on the Internet and agree to user codes that we have to agree to, but Internet companies own the ownership of our data. I believe you all have security cameras in your home, and the cameras monitor every minute and every second, but the security company owns the ownership of the surveillance video in our own homes.

They will sell videos to AI companies for model training without permission, or to user departments of other companies to analyze user behavior for user-side Write.

At this time, you can integrate the world's first DePIN server into the Internet of Things at your home and generate NFT without coding. Earn DMC revenue by sharing storage space/your data. At the ETH Denver event, enter the special event code to enjoy a 20% discount.
Next isFoggie Mobile, the world’s first DePIN mobile app, live Many people use Foggie Mobile (m.fogworks.io), where you can back up your photos, mint them into NFTs, and earn DMC. You can also use IPFS Pinning and S3 services for free. It's all on your smartphone, very convenient.

Then OKX Ventures partner Jeff delivered a speech.

Jeff: Thank you very much for coming to the venue so early. As we all know, this is the DePIN Denver Conference, also known as the summer of DePIN. I have been I like to joke that everyone can’t wait to jump from winter to summer immediately. We spent this year exploring ideas for good projects and continuing to build them. We are honored to be with DMC, FogWorks, and other investors at Draper Capital and Lingjie Capital on this journey.

Initially, I thought the team had been building an interesting storage project based on their theory. Zhicong and his partners created ERC7585 and delivered new technologies to users. With the support of FogWorks, they created various software and equipment to enter the DePIN track.

Then let’s discuss the development and investment of DePIN. DePIN plays a very important role in delivering new blockchain technologies to users in a chaotic market. In the past four or five years, we have seen great development in the blockchain and AI tracks. It also lets us know the increasingly important role of data in it.

We always want to know how as users to produce, transmit, and store our data. We can see more and more machines beginning to evolve and AI progress, continuing for decades, protecting human data security and data autonomy has become particularly important. I think the device innovation and the DePIN track in general that we're talking about today provide us with an opportunity to understand how to balance data importance and autonomy.

At the same time, blockchain technology is used to authenticate and process data. In my opinion, this is just the beginning. If we look back at the current equipment and technology in five years, we may laugh. But no matter how I prepare, I will participate in it and be a part of it, which can at least be used as a souvenir in the future, right? Maybe we will find it very hasty and ridiculous when we watch it. But I firmly believe that in five years we can see a lot of useful equipment on this track.

Twitter link:https://x.com /fogworksinc/status/1763435924082286657?s=20

Finally, let me introduce OKX Ventures. OKX Ventures is an investment company under OKX. With 12 years of operational experience, we have a wallet with the best user experience, supporting multiple public chains, cross-chain bridges and currencies. We invite all ecological partners to cooperate with us through our wallet infrastructure. Interact with various users and project parties.

2. Filecoin Foundation Development Evangelist Jenks atDMC & Fog < strong>Works gave a speech at ETHDenver2024 conference

Jenks: What I want to talk about are two problems DePIN is solving.

First, individuals or small businesses generally lack participation in the storage business. Cloud storage is a billion-dollar market and is growing at 20%, so is expected to reach $2 trillion by 2050.

This is a huge market, and our devices can process more data and create more data. The demand is growing. But I found that my phone couldn’t accommodate photos of my children. So I kept upgrading my storage service, and it was very expensive.

I'm considering connecting a device like the Foggie Max to my phone. This way I can shoot high quality videos.

This is a problem we face today. Most enterprises, including users, already know that using the cloud requires 100% trust. In fact, data shows that 80% of enterprises don’t just use one cloud, they have a multi-cloud strategy. Why? Because using the cloud requires 100% trust. Your data is held by someone else.

Now, when they abuse their power, they cause a lot of trouble. What we want to do is actually harness the power of the blockchain network. So, 3,000 storage provider nodes, and currently approximately 8 Exa Byte, 8 million TB of hard drive space, we are able to prove to the businesses and enterprises of the world that it is safe to put your files on a decentralized network and you The data cannot be changed or destroyed or altered by players in the network. And you can also keep multiple copies. At the same time you have more options to save data on decentralized storage.

So, small businesses, such as IT businesses that have been in the industry for 10, 20 years, they may have never thought of being against any kind of centralization Cloud, but through decentralized storage like Filecoin and DMC, they can participate in the economy.

The size is still very different. The cloud may have over 2000 Exa bytes and we have 8 Exa bytes, but we can still participate in the economy. Therefore, Filecoin and DMC want to support as many small businesses around the world as possible.

The second problem is that humans as a species are not very good at retaining information, and they get worse every year. Now, the reason is that the newer the storage device, the shorter its lifespan is. I think hard drives are about eight years old, tape storage is probably going to last about 20 years, but it's really old technology, very slow, DVDs, CDs are probably somewhere in between.

What we want to do is, if someone wants to store information for over 100 years using a device that is only designed to last about eight years, then you need a completely Different mechanisms can be used continuously. Therefore, we place our hopes on decentralized storage and blockchain technology to ensure that information will not be lost.

We crawled the research archives of a well-known American university. Research archives are important because people put a lot of money and effort into them, and you want to preserve it. Use it for as long as possible in the public interest.

But we found that more than 50% of university files were full. This is why many universities such as the University of Maryland, UC Berkeley, Harvard’s labs, and MIT are putting their research data on Filecoin and DMC because they believe it is a better alternative to immutable storage and permanent storage. Good alternative.

Now, one of the examples I want to mention is the USC Holocaust Foundation. The Holocaust Foundation is actually a foundation founded by Steven Spielberg after filming the movie Schindler's List. So he put £100m into the Shoah Foundation, with USC also providing some funding. What they do is record the testimonies of survivors of war crimes or the Holocaust.

The problem with this kind of data is that with anything you put on the internet, there are groups that are actively trying to deny or destroy the information they provide. So they came to us, and now I'm happy to tell you that we store a massive amount of data on Filecoin in multiple copies around the world, and they won't be able to change. This way we have this information forever.
Then another example that can be discussed is the data used in AI training. You can chat on your computer, which has an index of your computer's files, and it can find the files for you very easily, right? So this is a big problem. If you do this on the cloud, you basically put all your files there and allow the service to be able to read all of your sequences. But if it's on your own device, you know you have full control over it, and it doesn't communicate with the internet, then you're going to know it's safe, right?

This shows that we still don’t trust AI very much. In fact, I'm interested in this because I don't really trust AI. People are afraid of it. So what Filecoin does is, if you have verified and very good quality data for training an AI, and the training process is open to people, and the model itself is verified in the file system, then you can increase the trust level of it.

Now, one of the new ways to train AI is to do data learning, which means that five or six models are trained at the same time as they do things. Now, in this model, the AI ​​data model and the data itself are likely to stay on the device itself. So now it’s time to really get into the DePIN learning phase. So where Filecoin comes in is we can, hopefully with the help of Fog Works, we can reduce device size and allow lower layer devices to join the network and provide this type of data for training.

Felicia: What a wonderful speech about AI and DePIN. We are also happy to announce that DMC and the Filcoin Foundation are building Filecoin Station into Foggie Max IO.

In addition, we are excited to integrate Filecoin-powered storage services and Lighthouse-powered storage services into our Foggie mobile and desktop applications to provide added value decentralized storage solution.

On March 6, the official website of Filecoin announced that it had reached DePIN with Datamall Coin (DMC) strong>Ecological partnership. Foggie Max is the world's first DePIN server and will cause huge changes in the storage industry.

Twitter link:https://x.com /fogworksinc/status/1765157472611062211?s=20

Filecoin official website official announcement link; https://fil.org/ecosystem-projects/fog -works-inc/

DMC official website: https://dmctech.io

DMC Wallet: https://dmctech.io/zh/ecosystem

Staking URL (PC side): https://donedmc.io/#/login< /p>