Originally published on: October 31, 2024
During a recent Ask Me Anything (AMA) session with Cointelegraph, Chloe Phung, the co-CEO of U2U Network, shared insights into the company’s ambitious goals to bridge the gap between startups and consumers through their groundbreaking DePIN initiative.
Phung shed light on the evolution of projects like Filecoin and the growing interest in Web3 technologies. She emphasized the challenges faced by companies transitioning to Web3, highlighting the need for genuine demand for decentralized resources like VPN, GPU, and storage.
Supported by prominent investors like KuCoin Ventures, Chain Capital, JDI, and IDG Blockchain, U2U Network is setting its sights on key areas of development. The platform’s EVM-compatible layer-1 infrastructure, tailored for DePIN, encompasses a range of projects within the U2U chain, with U2DPN and a GPU-focused project leading the way.
U2DPN, a decentralized VPN powered by U2U Network’s innovative subnet technology, addresses critical enterprise challenges such as security vulnerabilities, high costs, and data exposure risks associated with traditional VPNs. By leveraging a distributed peer-to-peer network, U2DPN ensures secure, cost-effective, and privacy-centric VPN services.
Notably, U2DPN garnered over 60,000 users across 70 countries within a month of its launch, marking a significant milestone in the decentralized VPN space.
Phung elaborated on the U2U Network’s cutting-edge technology stack, highlighting the superior Direct Acyclic Graph (DAG) of their layer-1 platform. With impressive transaction processing speeds and enhanced security features, the network aims to support AI, IoT, and DePIN applications seamlessly.
The network’s consensus protocol, Helios, bolsters security measures, ensuring decentralization and scalability while fostering innovation in a rapidly evolving landscape.
U2U Network’s ingenious subnet model introduces a sharing economy paradigm that empowers users to contribute computing resources and participate in the network’s growth. By incentivizing node operators with U2U tokens, the network promotes decentralization and stability, essential for sustaining DePIN applications in the long run.
To fortify the DePIN sector, U2U Network launched the DePIN Alliance initiative, uniting a diverse community of contributors and project partners. The initiative aims to drive awareness, foster user engagement, and cultivate a vibrant ecosystem of decentralized resources.
In conclusion, Phung highlighted the transformative potential of DePIN in reducing startup development costs, enhancing accessibility, and democratizing access to innovative resources. She also emphasized the importance of diversity in the tech industry, envisioning an inclusive future where women play pivotal roles in driving Web3 innovation.
As the Web3 landscape continues to evolve, U2U Network’s DePIN initiative stands at the forefront of reshaping the digital economy, propelling startups and consumers towards a more decentralized and sustainable future.
