DeNet Review – DePIN Hard Drive Mining Setup and Earnings

Show DeNet earnings and node setup in this DeNet review. With DeNet users can earn by storing data online and hard drive mining by providing storage.

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Table of Contents

  1. What is DeNet?
  2. How does DeNet work?
  3. DeNet cost comparison with other storage companies
  4. DeNet DE token and TBY token
  5. Earn by joining DeNet Store and Earn campaign
    1. How to join DeNet store and earn campaign
    2. DeNet Campaign tasks
  6. DeNet Referral Code
  7. DeNet Node
    1. DeNet Node ID
    2. DeNet Node Setup
  8. DeNet earnings
  9. DeNet Campaign rewards will not last forever
    1. Will we earn after the campaign?
  10. Great DePIN Project
  11. DeNet Ambassadeur
  12. Other hard drive mining projects

What is DeNet?

DeNet is a decentralized storage protocol where users can use their hard drive storage to mine crypto with. Users are also able to store data online in their decentralized network and earn from it. DeNet is thereby a DePIN project utilizing hardware to contribute to a decentralized network. DePIN stands for Decentralized physical infrastructure network. DeNet and their utility can be seen as Dropbox or ICloud, but instead a Web3 crypto version that is cheaper and private. DeNet launched in 2017, they got 20 people working on the project and got big backers like 1inch.

How does DeNet work?

DeNet works like Dropbox in terms of usage. People can download their app and upload data/files/movies onto the network that is safetly stored privately. The data is stored among all nodes that are connected to contribute with storage on the DeNet network. All uploaded data is encrypted so that only the uploader is able to de-crypt the data. All stored data is also continuously stored on several nodes at once so there is no one-point-failure.

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DeNet cost comparison with other storage companies

Using DeNet online storage solutions costs around $7 på year for being able to store 100GB of data. If we compare that cost with other known storage companies, like Dropbox $143 per year and ICloud $18 per year, we see that DeNet is a lot cheaper.

DeNet DE token and TBY token

DeNet have two tokens, the “DE” token which runs on the polygon network and the TBY token. The DE token can be traded on big decentralized exchanges like 1inch and uniswap. The TBY token is the equivalent of a terabyte. 1 TBY token equals 1 TB of storage for 1 year. When a user stores 1TB of data on DeNet for 1 year it will use up 1 TBY token. TBY tokens can be bought in the, either with crypto or card, in DeNet’s swap feature on the app or on their webpage. There is however no way to swap TBY tokens back to DE tokens.

Earn by joining DeNet Store and Earn campaign

DeNet is currently having a campaign called store and earn, where users can simply join to earn rewards in the form of the DE token. DeNet will distribute 250000 DE tokens during a 6 month long campaign were the average starting APY% is 250%. Any user that join the DeNet app can get a 2X boost on their earnings by using the DeNet referral code: 0x2580c735fcebab94ddd88d6f45dbf453ecbe8780

denet referral code

How to join DeNet store and earn campaign

To join DeNet’s store and earn campaign you first need to download the DeNet app. In the app you need to import a wallet, like a new Metamask wallet, or create a new wallet. To join the campaign you need to buy atleast 100GB of storage, which currently costs $3.65. Users can pay that amount using crypto or card. After that purchase you will enter the campaign and can perform tasks to increase your earnings.

DeNet Campaign tasks

In the store and earn campaign there are several tasks that can boost the earnings up to 10 times. One task is to perform a weekly tweet about DeNet that will give you a 1x boost. A second task is to store 100GB of data on DeNet which gives a 2x boost. A third task is to become a datakeeper by setting up a DeNet node which gives 4x boost.

denet store and earn

DeNet Referral Code

The last task in DeNet’s store and earn campaign is to put in a referral code which gives 2x boost to the earnings.

DeNet referral code: 0x2580c735fcebab94ddd88d6f45dbf453ecbe8780

DeNet Node

Setting up a DeNet node is when a user offers storage capacity to the DeNet network by lending storage space in their computer, hard drive or cloud storage. Users earn rewards for setting up a node and earn additionally by other users storing data on the node. Launching a node on DeNet is also called becoming a “Datakeeper”.

hard drive mining

DeNet Node ID

To setup a DeNet node you need a node ID. There are only about 45 active node ID in the world right now. The current maximum amount of node ID is 146. In the future there will open more places for more nodes to join. So currently, there are only about 100 node ID’s left and available.

DeNet Node Setup

To setup your own node and become a datakeeper you need storage on your computer, hard drive or on cloud storage. You will find all the setup instructions here or look at the video at the top of this page. The node program file you can find on that page and there is versions available for Windows, MAC and Linux users.

denet monthly earnings

DeNet earnings

My DeNet earnings per month after performing 3 out of the 4 tasks in the store and earn campaign became $266 per month. The boosts from the tasks are applied to the amount of TBY tokens in the wallet.

DeNet Campaign rewards will not last forever

Now these high earning rates that are sometimes even more than 300% will over the next 6 months continue to go down as more and more people join. And at the end of the 6 months DeNET estimate that the average APY% will be around 100%. So, these high earnings is something that is time sensitive and will not last for ever, it’s a campaign by DeNET in order to raise awareness about their project.

filecoin competitors

Will we earn after the campaign?

Even after this campaign we users who have nodes and use their service to store data will continue to earn. If DeNET continues to grow we could see really high earnings for node users that contribute storage according to the storage calculator.

Great DePIN Project

DeNET is probably be one of the cheapest ways in the world to store data online. DeNet thereby show DePIN projects advantages with decentralized blockchain based solutions, such as making the entrie service cheaper, safer and anonymous. DePIN projects utilizing automatic solutions, incentivizing solutions will be able to become superior compared to centralization traditional services.

DeNet Ambassadeur

Want to earn even more with DeNet? You can become a DeNet ambassadeur by referring others. Do so here using this form. When you fill in the form you can use the following inviter code under “Denet Storage ID inviter” to get extra starting rewards. DeNet Storage ID: 0x2580c735fcebab94ddd88d6f45dbf453ecbe8780

What is DeNet?

DeNet is a decentralized storage DePIN project were people can store data online and earn from it.

What is a DeNet Node?

A DeNet node is a physical hard drive that provides storage for DeNet’s decentralized storage solution. DeNet users can launch their own nodes using hard drives and mine the DE token by lending storage capacity.

How to join DeNet’s store and earn campaign?

To join DeNet’s store and earn campaign users needs to buy atleast 100GB worth of storage in the DeNet app. That will unlock the store and earn campaign features.

Do I need to share my private key with DeNet?

If a DeNet user wants to launch a DeNet node they need to share the wallet to where the node will receive its DE token rewards to. Users do so by sharing their wallets private key. This is not common practice since people should never show their wallets private keys to others. However, since DeNet needs it to run a node, users can simply create a completely new Metamask wallet that they can use only for DeNet activities. That way, users don’t need to store any other assets on their DeNet wallet.


Other hard drive mining projects

There are several projects that utilizes physical storage in their blockchain solutions. One hard drive miner project is Evergreen. Another much bigger project is called filecoin.

2 thoughts on “DeNet Review – DePIN Hard Drive Mining Setup and Earnings”

    • Right now it’s not the hard drive usage that is earning this much. It’s their store&earn campaign that is mainly causing the earnings. The storage capacity will likely be something that will earn more in the long term

      Reply

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