Natix Network, a Solana-based decentralized physical infrastructure network (DePIN) and AI project, has introduced a new device, NATIX VX360.
This device allows Tesla owners to contribute to the development of self-driving cars by sharing their anonymized dashcam footage.
By sharing their driving data, Tesla owners can help improve the accuracy of maps, train AI models, and enhance the overall safety of autonomous vehicles. In return, they may receive rewards.
Data-Driven Autonomous Driving
Leveraging Tesla’s 360-degree dashcam system, the VX360 device captures real-world data that can be used to enhance AI models and improve mapping. This data helps to address the complex challenges associated with autonomous driving, such as understanding human behaviour, predicting traffic patterns and navigating different road conditions.
Tesla owners can easily install the VX360 device by plugging it into their vehicle’s USB port. The device seamlessly captures and anonymizes dashcam footage, including trip and sentry mode recordings.
The anonymized data is then securely uploaded to the Natix network. In exchange for their valuable data, Tesla owners receive rewards in the form of NATIX tokens and other incentives.
According to Natix, the company prioritises user privacy and data security, and all data is anonymized to protect personal information. Advanced AI algorithms are used to blur faces, licence plates and other identifying features. Users also have the ability to define private zones to exclude certain locations from data collection.
Mapping the Future with Blockchain
Natix is a Hamburg-based blockchain-platform focused on mapping data that collects real-time geospatial data through its mobile app, Drive&.
Users can contribute to the mapping data by capturing footage from their smartphone cameras, dashcams and navigation systems. This data is valuable for various industries, including mobility and autonomous driving, and helps improve operations and infrastructure.
In April 2024, Natix Network secured $4.6 million in a funding round led by Borderless Capital. The funding round also saw participation from various investors such as Nomura’s Laser Digital, Big Brain Holdings, Escape Velocity, among others.
The investment was used to launch its native NATIX token on the Solana blockchain.
#NATIX is proud to announce the completion of a $4.6M strategic round
We thank those who trust us and continue supporting the NATIX Network
We’re on a mission to bring #DePIN and #Web3 innovation to everyone https://t.co/cfrajrsOdK
— NATIX Network (@NATIXNetwork) April 25, 2024
DePINs: The Next Big Thing?
DePINs are blockchain protocols designed to decentralize real-world infrastructure and systems. This includes areas such as communications networks, data warehouses and energy markets, or as in the case of Natix geospatial data.
A recent report by MV Global, a Web3 investing firm, suggests that DePINs could be the next major use case for Web3 technology, potentially attracting a large number of new users to the cryptocurrency space.
The DePIN ecosystem currently boasts over 1,000 projects and a combined market capitalization of more than $20 billion, and with numerous projects on the horizon, significant growth is expected.
The DePIN landscape. Source: MV Global
Solana (SOL) and Ethereum (ETH) are two leading blockchain platforms that are well-suited for DePIN projects.
According to the report, Solana’s parallel processing architecture makes it particularly attractive for projects that require high scalability and low transaction fees.
Besides Natix Network, several other DePIN projects including Helium, Hivemapper and Render have chosen to build on Solana.
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