No more range anxiety: How DePIN transforms the EV charging ecosystem

Electric vehicles (EVs) are a beacon of hope for sustainable transportation, but hesitancy persists due to concerns about charging infrastructure. While there are over 40 million electric cars on the road, this number pales in comparison to the nearly 1.5 billion internal combustion engine (ICE) vehicles worldwide, highlighting that EV adoption is still not at a sufficient level.

Research indicates that the main obstacle to EV adoption is not just the high sales prices. Many potential users are concerned about the inadequate charging infrastructure, which makes EVs seem unsuitable for long-distance travel.

Charging infrastructure is one of the top concerns regarding EVs. Source: Statista

One of the most prominent barriers to widespread EV adoption is range anxiety — the fear that an electric vehicle will run out of battery before reaching its destination, leaving the driver stranded. Many potential EV owners worry about the availability and accessibility of charging points, especially in rural or less developed areas.

The issue of charging infrastructure is not just about the number of stations but also their functionality and ease of use. Inconsistent charging standards, varying payment systems and the need for multiple apps and memberships to access different networks add layers of complexity for EV users.

Bridging the fragmented EV ecosystem could attract potential buyers seeking a more seamless and convenient driving experience.

Turning point on EV adoption

Finding ways to accelerate the mass adoption of EVs requires understanding the modern EV driver and considering existing demands. In this regard, a recent report from Shell, a multinational oil and gas company, may provide some guidance. The main criteria for increasing EV adoption are improved battery range, better charge point availability, and lower initial purchase prices.

Top three factors for EV adoption. Source: Shell

Factors like enhancing battery range and lowering sales prices are within the control of manufacturers. However, automotive giants often prioritize profit over meeting consumer demands.

Charging point accessibility, a concern of 49% of the survey participants, can be effectively addressed with decentralized physical infrastructure networks (DePINs) . By combining the power of blockchain and the Internet of Things (IoT), this technology can decentralize the management of EV charging services.

DePIN can address many of the concerns associated with the current fragmented system of the EV landscape, creating a more robust, efficient and user-friendly charging point network.

Simplifying EV charging process

Minima , a fully decentralized and device-agnostic layer-1 blockchain for DePIN projects, aims to overcome EV adoption challenges by decentralizing charging service management. Its blockchain network simplifies the charging process and increases interoperability between providers and users.

Although adoption has not reached its true potential, the number of EVs worldwide is increasing faster than the number of charging points. In response to this imbalance, Minima has partnered with global payment service provider Online Payment Platform (OPP) to transform the $7.3 billion EV market . Through this collaboration, OPP’s payment solutions will integrate with Minima’s blockchain network, allowing EV drivers to rent their dedicated chargers to the public.

Unlike traditional centralized models that rely on specific service providers for access and payment management, Minima and OPP’s approach allows direct peer-to-peer (P2P) interactions. They convert energy into digital tokens on a blockchain, with each token representing a unit of energy, like kilowatt-hours (kWh).

Charge point operators and personal EV charging station owners can accept tokens generated on the Minima blockchain. These tokens can be traded or transferred between users, enabling efficient and transparent P2P energy transactions.

Additionally, OPP facilitates the initial fiat payment, which triggers the creation of a digital token on Minima’s blockchain upon payment confirmation. OPP’s multi-faceted payment platform supports multiple currencies and offers escrow services.

Enhancing EV charging with full node network

To create a safer and more efficient ecosystem for EV charging, Minima develops a secure and resilient infrastructure by allowing every device connected to its network to act as a full node.

A full node is a device that stores a complete copy of the blockchain to ensure the network’s integrity. Unlike traditional decentralized models that require costly hardware to run a full node, Minima makes this accessible by eliminating the need for expensive equipment.

Minima’s blockchain protocol is designed to run on mobile phones, IoT devices and lightweight computers. Each node functions as a standalone application, giving every user equal participation in the network.

Minima achieves scalability while maintaining security and decentralization. With over 50,000 node operators, Minima aims to have the most full nodes globally. Additionally, it uses a quantum-resistant cryptography algorithm to protect against future threats posed by quantum computers, ensuring the network’s long-term security.

Minima’s minimal memory and hard disk requirements enable users to run nodes on lightweight devices. Source: Minima

In June 2024, Minima gained attention with its real-world DePIN application embedded in sports cars. The platform integrated a blockchain-powered data tracker into the McLaren GT4 supercar, capturing data directly from the vehicle’s engine and recording a hash of the data on the blockchain.

Through its partnerships, Minima envisions a future where DePIN becomes a part of everyday life, allowing even average users to actively participate in the ecosystem. The upcoming acceptance of crypto payments at 50,000 EV charging stations across Europe could be a pivotal moment. DePIN projects like Minima will drive this transformation, allowing decentralized networks resistant to censorship and centralized control to become more integrated into everyday life.