PHY (DePHY Network) rose 92.80% in 24 hours

Gate News Bot news, August 7th, according to CoinMarketCap data, as of the time of writing, PHY (DePHY Network) is currently priced at $0.03, having risen 92.80% in the last 24 hours, with a peak at $0.04 and a low of $0.02. The current market capitalization is approximately $2.49 million, an increase of $1.2 million compared to yesterday.

DePHY is a decentralized low-latency off-chain network, specifically designed for DePIN (Decentralized Physical Infrastructure Network), featuring verifiability and composability. It provides open-source hardware solutions, SDKs, and tools, significantly reducing the manufacturing and networking message costs of connecting hardware products to the blockchain. DePHY's node synchronization operates at a 500-millisecond level, significantly lower than the current 10-minute level required by blockchain systems. Additionally, DePHY uses Soulbound DID (Decentralized Identity) with secure, tamper-proof hardware and zero-knowledge technology in its Oracle, ensuring that network messages are traceable, confidential, and verifiable.

Important news about PHY recently:

1️⃣ DePHY Network technical advantages recognized The low-latency off-chain network technology of DePHY Network has attracted widespread attention in the industry. Its node synchronization speed at the 500 milliseconds level far exceeds that of traditional blockchain systems, providing more efficient infrastructure support for DePIN projects. This technological advantage is expected to encourage more IoT projects to adopt DePHY solutions, thereby expanding its ecosystem scale.

2️⃣ Open-source hardware solutions lower the entry barriers The open-source hardware solution and SDK toolkit launched by DePHY Network significantly reduces the cost of connecting hardware products to the blockchain. This initiative is expected to attract more developers and enterprises to join the DePHY ecosystem, promoting the rapid development of decentralized physical infrastructure networks.

3️⃣ Security and privacy protection are prioritized DePHY uses Soulbound DID and zero-knowledge technology to enhance the traceability, confidentiality, and verifiability of network messages. In the current cryptocurrency market, where security is increasingly emphasized, this feature may become one of the key factors attracting investors and users to PHY.

From a technical perspective, the price of PHY has experienced a significant pump in the short term, which may pose a risk of a pullback. Investors should closely monitor its price dynamics and trading volume changes to assess short-term investment opportunities. From a fundamental standpoint, the technological innovation of DePHY Network in the DePIN field is worth long-term attention, but its market position and actual application scale still require time for validation.

This message is not intended as investment advice; investors should be aware of market volatility risks.