In a significant milestone for decentralized networks, XYO Network has surpassed 10 million nodes within its decentralized physical infrastructure network (DePIN). This landmark achievement was confirmed by Markus Levin, XYO’s co-founder, during an interview with Cointelegraph. The majority of these nodes consist of human participants who contribute data in exchange for rewards through the network’s mobile application, COIN, reflecting a remarkable integration of Web3 technology into everyday life.
A New Wave of Participants
Levin disclosed that approximately 80% of XYO’s participants are individuals exploring the Web3 landscape for the first time. These new users include a diverse array of professions—truckers, rideshare drivers, delivery personnel, and even nurses—highlighting the broad appeal of the platform. “The vast majority of our 10 million nodes are mobile users,” Levin explained, “but some are IoT devices like smart speakers.” Notably, 95% of users transition into active participants after initially engaging with the COIN app, showcasing the network’s ability to convert interest into sustained involvement.
Strategic Moves and Future Prospects
Since launching its layer-1 blockchain in January, XYO has been making strategic advancements to expand its ecosystem. In October 2024, the network bridged its native token to Solana (SOL), a move aimed at tapping into a broader user base. This initiative signifies XYO’s commitment to scaling its infrastructure and fostering greater interoperability within the crypto space.
XYO rewards its users by awarding points redeemable for its native XYO token, as well as other cryptocurrencies like BTC and ETH, or even gift cards. This flexible rewards system underscores the network’s dedication to providing tangible value for its contributors. With a market capitalization hovering around $180 million as of early May, XYO is poised to solidify its standing within the DePIN sector.
The Broader Implications of DePIN
Decentralized physical infrastructure networks, or DePINs, are rapidly emerging as a transformative force within the Web3 ecosystem. These blockchain protocols aim to decentralize real-world infrastructure, such as communications networks and energy markets, offering an enticing proposition for new users. A report by MV Global, a Web3 investing firm, suggests that DePINs could be a significant catalyst in attracting a new wave of participants to the crypto space. The report estimates the DePIN ecosystem comprises over 1,000 projects, collectively representing around $50 billion in market capitalization.
XYO’s growth and strategic maneuvers reflect broader trends in the DePIN sector, which some analysts view as one of Web3’s “next big use cases.” The potential for DePINs to onboard a significant number of new users to the crypto realm is considerable, yet it remains to be seen whether this trend can sustain its current momentum.
Looking Ahead
As XYO continues to expand its node network and refine its offerings, questions linger about the scalability and sustainability of its model. While the network’s growth is impressive, the challenge lies in maintaining engagement and ensuring the infrastructure can support its burgeoning user base. Moreover, the integration with Solana opens new avenues for collaboration and innovation, but also presents potential hurdles in terms of technological compatibility and user experience.
In the coming months, the focus will likely be on how XYO navigates these challenges while continuing to bolster its position within the DePIN ecosystem. As the network evolves, its trajectory will provide insights into the broader viability of decentralized physical infrastructure as a cornerstone of the digital economy.
Source
This article is based on: XYO Network tops 10M DePIN nodes — Co-founder
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
