The DoubleZero protocol is a high-speed fiber connection network specifically designed for high-throughput blockchain traffic services. The network officially launched its mainnet testing phase on Thursday and simultaneously issued its functional token that supports the operation of the network.
The DoubleZero decentralized physical infrastructure network (DePIN) has currently deployed over 70 high-speed direct connection routes in 25 regions worldwide, enabling direct routing between blockchain traffic sources and destinations, effectively reducing communication latency and enhancing speed.
Federa stated, "The shortcoming of the public internet is that it was never designed for high-performance systems. It has always been built for the scenario of communication between a large server and a small server." DoubleZero founder Austin Federa told Cointelegraph in May,
The launch of the high-speed communication network specifically designed for blockchain and crypto networks marks a new development upgrade in the industry. The blockchain industry is gradually breaking free from its dependence on the public internet and its fundamental limitations on distributed digital networks.
The U.S. Securities and Exchange Commission (SEC) issued a no-action letter regarding DoubleZero's proposed token issuance on Monday, which is a significant positive for the blockchain DePIN network.
SEC Commissioner Hester Peirce stated, "Individuals running nodes, providing storage, or sharing bandwidth will be rewarded. These tokens are neither company shares nor profit promises based on the efforts of others."
She added, "These projects use tokens as compensation for completing work or providing services." Furthermore, she pointed out that DePIN node operators are more like business owners rather than securities investors.
The SEC's no-action letter has cleared the way for the public issuance of DoubleZero's local token. Previously, the token had completed a private placement financing to validators in April.
This also indicates a significant shift in the SEC's regulatory stance on crypto tokens, as the SEC had previously classified most crypto tokens as securities and filed lawsuits against crypto companies issuing innovative products that may not belong to traditional asset classes.
According to advocacy group The Blockchain Association, under former Chairman Gensler's leadership, the SEC has imposed at least $426 million in litigation costs on crypto companies.
Related: Stablecoin market cap rises, synthetic asset sector strengthens again
Original article: “DoubleZero Protocol Launches Mainnet Beta, Focused on Crypto Communication”
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