Why DePIN Is Taking Off Now

2024 is the year when account abstraction (which hides from users some of the technical wiring of blockchain transactions) picked up across Web3. The realization that the current Web3 user experience may not be compelling enough to persuade mainstream users to transition from Web2 has recently generated a lot of attention. Today, there are a large number of companies focusing on UX and account abstraction. At the same time, we’re seeing ERC-4337, the 2023 Ethereum upgrade focused on exactly this, really finding adoption with a wide range of projects, including DePIN.

Meanwhile, AI has been experiencing a renaissance since the launch of GPT nearly two years ago, with models improving and integration evolving rapidly. AI assistants, now being developed on blockchain, are set to simplify application use, reducing the need for human-friendly front-ends.