Top 15 Distributed Computing (DePIN) Tokens by Market Capitalization (2024)

There are thousands of different cryptocurrencies, such as Bitcoin, Ethereum, Dogecoin, and Tether, which can be overwhelming when you are new to crypto. The total market cap is $ 40.1 billion, with a 24-hour trading volume of $ 1.81 billion. To help you navigate, here is a list of the top 15 Distributed Computing Tokens by Market Capitalization, which indicates the total value of all the currently circulating coins.

Top 15 Distributed Computing Tokens by Market Capitalization

1. Internet Computer (ICP)

The Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. It provides the first “World Computer” blockchain that can be used to build almost any Web 2.0 online system or service, and web3 services, including web3 social media services, without any need for centralized traditional IT such as cloud computing services.

It also enables smart contracts it hosts to directly create transactions on other blockchains, which in turn enables the full end-to-end decentralization of online services and web3 for the first time. The current CoinMarketCap ranking is #18, with a live market cap of $8,273,723,453 USD.

2. Filecoin (FIL)

Filecoin is a decentralized storage network based on the Interplanetary File Storage (IPFS) protocol. It is designed to utilized unused storage globally into an efficient storage market for users to pay for low cost storage. The objective is to ensure file storage is permanent and distributed across the web. Contrast this with centralized cloud storage solution such as Amazon Web Services, Google Cloud, or Dropbox, where data are stored in servers owned by these private corporations.

Filecoin (FIL or ⨎) is also the currency of the decentralized storage network. Customers wanting to access storage will have to pay for storage in Filecoin. Nodes that provide storage to the network will in turn be paid in Filecoin for their service.

The current CoinMarketCap ranking is #26, with a live market cap of $4,619,111,629 USD.

3. Render Network (RNDR)

Render Network Foundation (The Render Network®) is the leading provider of decentralized GPU based rendering solutions, revolutionizing the digital creation process. The network connects node operators looking to monetize their idle GPU compute power with artists looking to scale intensive 3D rendering work and applications to the cloud.

Through a decentralized peer-to-peer network, the Render Network achieves unprecedented levels of scale, speed, and economic efficiency. On top of a decentralized GPU computing network, Render provides a platform for artists and developers to build services and applications for the emerging digital economy, including next generation digital rights management (DRM), artificial intelligence (AI), and virtual assets (NFTs). The current CoinMarketCap ranking is #36, with a live market cap of $3,584,858,552 USD.

4. Bittensor (TAO)

Bittensor is an open-source protocol that utilizes blockchain technology to create a decentralized machine learning network. This network enables machine learning models to train collaboratively and be rewarded in TAO according to the informational value they offer the collective. Additionally, Bittensor's TAO grants external access to users, allowing them to extract information from the network while tuning its activities to meet their needs. The ultimate vision of Bittensor is to create a market for artificial intelligence, allowing producers and consumers of this commodity to interact in a trustless, open, and transparent context.

Bittensor provides a novel strategy for developing and distributing artificial intelligence technology, promoting open access/ownership, decentralized governance, and global access to computing power and innovation within an incentivized framework. The Bittensor network operates using two types of nodes, servers and validators, with assessments based on the value of their responses. Nodes that add value to the network are rewarded with more stake (TAO), while low-value nodes are weakened and eventually de-registered. The current CoinMarketCap ranking is #35, with a live market cap of $3,643,530,790 USD.

5. Theta Network (THETA)

Theta network is a decentralized video streaming network that is powered by blockchain technology. Theta allows users to watch video content and get rewarded with tokens as they share their internet bandwidth and computing resources on a peer-to-peer (P2P) basis. Besides a line-up of institutional investors like Node Capital and DHVC, Theta Network is advised by Steve Chen, co-founder of YouTube, and Justin Kan, co-founder of Twitch.

The current CoinMarketCap ranking is #47, with a live market cap of $2,581,726,693 USD.

6. Arweave (AR)

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as "a collectively owned hard drive that never forgets," the network primarily hosts "the permaweb" — a permanent, decentralized web with a number of community-driven applications and platforms.

To learn more about this project, check out our deep dive of Arweave. The Arweave network uses a native cryptocurrency, AR, to pay "miners" to indefinitely store the network's information. The current CoinMarketCap ranking is #54, with a live market cap of $2,224,663,184 USD.

7. MultiverseX (EGLD)

MultiversX (formerly Elrond) is a high-throughput blockchain that aims to power the metaverse frontier. MultiversX set out to create a blockchain that is capable of 1000x throughput than most existing blockchains. This improvement of transaction throughput allows MultiversX to handle even the most aggressive wave of user adoption.

eGold (EGLD) is the native token that powers MultiversX. Its utility comprises all core network functionalities, such as staking, governance, transactions, smart contracts, and validator rewards. The current CoinMarketCap ranking is #69, with a live market cap of $1,412,263,326 USD.

8. BitTorrent (BTT)

BitTorrent is a popular peer-to-peer (P2P) file sharing and torrent platform which has become increasingly decentralized in recent years.

Originally released in July 2001, BitTorrent was purchased by blockchain platform TRON in July 2018. Since its acquisition, BitTorrent has added various new tools, with a dedicated native cryptocurrency token, BTT, released in February 2019. BTT was launched on TRON’s own blockchain, using its TRC-10 standard.

According to its official literature, BitTorrent is currently the “largest decentralized P2P communications protocol” in the world. The current CoinMarketCap ranking is #76, with a live market cap of $1,341,084,549 USD.

9. Akash Network (AKT)

Akash Network is a Supercloud spearheading a paradigm shift in cloud computing, disrupting conventional cloud services, and pioneering a revolution in access to essential cloud resources. Leveraging the power of blockchain technology, Akash Network has developed an open-source, decentralized, marketplace for cloud computing, offering an unprecedented level of speed, efficiency, and affordability. This innovation is set to transform the way users perceive and utilize cloud services. The current CoinMarketCap ranking is #93, with a live market cap of $1,021,282,177 USD.

10. Helium (HNT)

Helium (HNT) is a decentralized blockchain-powered network for Internet of Things (IoT) devices. Launched in July 2019, the Helium mainnet allows low-powered wireless devices to communicate with each other and send data across its network of nodes.

Nodes come in the form of so-called Hotspots, which are a combination of a wireless gateway and a blockchain mining device. Users who operate nodes thus mine and earn rewards in Helium’s native cryptocurrency token, HNT.

Helium’s goal is to prepare IoT communication for the future, identifying inadequacies in current infrastructure from its birth in 2013. The current CoinMarketCap ranking is #106, with a live market cap of $886,766,209 USD.

11. AIOZ Network (AIOZ)

AIOZ Network is a DePIN for Web3 AI, Storage and Streaming. AIOZ empowers a faster, secure and decentralized future. Powered by a global network of DePINs, AIOZ rewards you for sharing your computational resources for storing, transcoding, and streaming digital media content and powering decentralized AI computation. The current CoinMarketCap ranking is #102, with a live market cap of $906,906,955 USD.

12. Ocean Protocol (OCEAN)

Ocean Protocol is an ecosystem for sharing data and associated services. It provides a tokenized service layer that exposes data, storage, compute and algorithms for consumption with a set of deterministic proofs on availability and integrity that serve as verifiable service agreements. There is staking on services to signal quality, reputation and ward against Sybil Attacks.

Ocean helps to unlock data, particularly for AI. It is designed for scale and uses blockchain technology that allows data to be shared and sold in a safe, secure and transparent manner. The current CoinMarketCap ranking is #128, with a live market cap of $652,478,150 USD.

13. IoTeX (IOTX)

Starting as an open-source project in 2017, IoTeX has built a decentralized platform whose aim is to empower the open economics for machines — an open ecosystem where people and machines can interact with guaranteed trust, free will, and under properly designed economic incentives.

With a global team of over 40 research scientists and engineers, IoTeX has built their EVM-compatible blockchain from scratch using the innovative Roll-DPoS consensus and launched in 2019 April, which has been running by 100+ delegates worldwide and has processed more than 10 million transactions already.

On top of the IoTeX blockchain, the team has built the essential blocks of infrastructures to connect with Ethereum, BSC, and Heco blockchains such as ioPay wallet (https://iopay.me/) and ioTube bridge (https://iotube.org/), which serve ten thousands of users. IoTeX helps EVM-based DApps scale without concerning expensive gas fees! The current CoinMarketCap ranking is #126, with a live market cap of $678,530,797 USD.

14. Ankr (ANKR)

Ankr is a decentralized blockchain infrastructure provider that operates an array of nodes globally distributed across over 50 Proof-of-Stake networks. This infrastructure helps drive the growth of the crypto economy while powering a full suite of multi-chain tools for Web3 users: The current CoinMarketCap ranking is #150, with a live market cap of $541,507,933 USD.

15. Theta Fuel (TFUEL)

Theta is a Layer 1 blockchain and decentralized infrastructure for Video, AI & Entertainment use cases.

Theta is a "dual network" consisting of two complementary subsystems, the Theta Blockchain and the Theta Edge Network.Theta proof-of-stake blockchain provides payment, reward, staking and smart contract capabilities, while the Edge Network is responsible for the compute, storage and delivery of video streams, AI tasks, and other scientific, simulation and financial modeling use cases.

There are two native cryptocurrencies on Theta blockchain: THETA, the staking and governance token, and TFUEL, used as gas for all transactions and on-chain smart contract interactions. The next-generation Edge Network, Theta EdgeCloud, is the first hybrid cloud computing platform built on a fully distributed architecture, set to launch later in 2024. The current CoinMarketCap ranking is #149, with a live market cap of $544,756,580 USD.

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