TL;DR
In this week’s review, we’re looking at the world of Hivemapper and discussing if it’s a DePIN hidden gem. Announcing the HONEY token back in 2022, Hivemapper is a project with real-world utility and a massive community of operators already on board. Passive income projects are far from a new idea, as Hivemapper offers to pay users who operate its dashcam hardware—placing it firmly into the category of exchanging services for tokens. As a participant and former XYO Network driver, I have years of experience with DePIN projects like this. So let’s see how Hivemapper stacks up against its promises and the competition. Read this article to learn more about DePIN.
A newer narrative is emerging called Decentralized Physical Infrastructure (DePIN). Projects that include Helium, Akash Network, Render, and Filecoin all fit into this narrative.
DePIN is a newer terminology used to describe projects that have exceptional utility for real-world use cases, helping to make infrastructure better, faster, and stronger.
DePIN projects aren’t anything new but categorizing them as such is. As this category begins opening itself up to more innovation, Hivemapper is certainly one that sticks out among the competition.
What is Hivemapper?
It’s no big surprise that Google Maps almost got away with cornering the mapping industry if it hadn’t been for all the hard work being done over at Waze.
If you’ve used Google Maps for any extended period or happen to live in a more rural part of the world then you’re familiar with how lackluster the mapping service is. Updating every 3-4 years, if that, while also absorbing massive amounts of traffic and driving information that’s later sold to the highest bidder.
Hivemapper offers a different way to do business by paying users to collect that information instead.
Tapping into a massive industry of daily drivers, Hivemapper offers a great proposition to those looking to make a little extra money while doing what they’re already doing, driving.
So far, Hivemapper has mapped more than 135 Million Km of road information across more than 2,500 regions worldwide. This is all thanks to over 55,000 contributors with Hivemapper devices in their vehicles.
Operating on the Solana Network gives Hivemapper a massive leg up over competitors like XYO Network. Hivemapper users have created over 13 Million payout transactions on the network to date.
This was a major issue with previous projects operating on Ethereum. As the minimum payout threshold was so high that most drivers who operated hardware for months, never received a dime. That’s a far cry from how Hivemapper has been rewarding users for operating its Dashcam units, thanks to Solana. Making this technology feel right at home on the network.
Hivemapper originally started in 2015 as map software for drone operators, allowing them to create custom aviation maps with rich 3D imaging. However, after years of operation and the ability to incorporate blockchain into data collection, Founder and CEO Ariel Seidman leaped to make Hivemapper a leading Mapping software company.
This has been considered a very successful repurpose and upgrade to the original Hivemapper App. Learning from all their experience with 3D imaging and AI data collection….
Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin.
As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom.
“The swarm is headed towards us” -Satoshi Nakamoto
