去中心化物理基礎設施網絡（DePINs）作為一項革新性的概念橫空出世，將 Web3 的數碼領域與現實世界的基礎設施緊緊連繫起來。DePINs 善用區塊鏈科技及基於代幣的激勵機制，打造出用於管理實體資源（如無線網絡、電網、儲存空間等）的去中心化系統。有關模式不僅令基建更民主化，更促進社區力量主導的增長與韌性。
截至 2025 年 4 月，DePIN 領域市值達到 143 億美元，反映出該行業於加密及區塊鏈生態中日益增長的重要性。根據預計，總可服務市場（TAM）現時達到 2.2 兆美元，預計於 2028 年將增至 3.5 兆美元，凸顯其未來增長潛力巨大。
本文將帶你了解什麼是 DePINs、其運作原理、優勢、挑戰及現實應用案例，並著重探討 Web3 激勵於推動 DePINs 取得成功時所扮演的角色，旨在為關心區塊鏈與實體基建交集的人士，提供一個全面概覽，以及洞悉其或能重塑行業、促進更公平與去中心化未來的潛力。
DePINs 定義
DePINs 是建基於區塊鏈的生態系統，旨在將傳統物理基建服務去中心化及代幣化。有別於由大型企業主導的中心化系統，DePINs 容許個人或機構將實體或數碼資源——如儲存空間、運算能力、無線連接等，貢獻至去中心化網絡。
參與者會因他們的貢獻獲發加密代幣作獎勵，從而營造出可持續發展的生態圈。該營運模式符合 Web3 去中心化、透明及社區治理的理念，並將這些原則實踐於現實世界。
DePINs 的核心在於將現實資產及服務代幣化，並打通數碼與現實世界。例如，無線連接的 DePINs 讓個人布置熱點裝置並因提供覆蓋而獲取代幣；而於像 Filecoin 這類儲存網絡，用戶出租閒置硬碟空間，並以 FIL 代幣獲獎。
這個代幣化機制帶來共融的經濟激勵，驅使參與者不斷貢獻網絡增長與可持續發展。DePINs 的市場潛力巨大，Messari 指其 TAM 目前已達 2.2 兆美元，預料 2028 年會增至 3.5 兆美元。推動這個領域持續增長的原因，包括區塊鏈技術的廣泛採納，以及各行各業對高效且去中心化基建解決方案的需求。
DePINs 通常分為兩大類型：實體資源網絡（PRNs）及數碼資源網絡（DRNs）。PRNs 主要集中於具地理依賴性的非同質化資源，例如流動服務、電網或無線連接，這些多與特定地區掛鉤，不容易被替代。DRNs 則負責管理同質化數碼資源，包括儲存、頻寬及運算力等，可於整個網絡無地域限制地加以使用。
這種分類有助清晰劃分 DePINs 的各類應用，由地區性基建（如電網）至全球性數碼資源（如雲端儲存），涵蓋範圍廣闊。本質上，DePINs 代表了基建領域的範式轉變——從集權於少數人，過渡到由廣大社區參與管理，直接分享成果。
為何需要 DePINs
目前傳統中心化基建模式存在多項限制，因此需要 DePINs。中心化系統往往有單點故障、高昂成本及有限覆蓋的問題。例如，在能源分配方面，傳統電網容易因事故而癱瘓，並通常被大企業控制。
如果以 DePIN 構建能源網，則可讓無數小型生產者及消費者，透過區塊鏈網絡互聯，令點對點能源交易及更穩定的供應成為可能。同樣地，在電訊方面，傳統供應商受高成本影響，難以覆蓋偏遠地區。像 Helium 這類 DePINs 就證明了社區驅動的無線網絡能透過激勵措施，成功於這些區域建立覆蓋。
此外，中心化基建往往需要大額前期投資及繁瑣程序，阻礙創新及部署。DePINs 免除這些門檻，讓創業者或個人無須龐大資本及複雜審批亦可參與建構基建。這種基建民主化，對於發展中國家及傳統資源缺乏的地區尤其重要。
DePINs 的另一大優勢是高度韌性，分散式參與能消除中心化系統常見的單點故障，確保服務在受阻時亦可繼續運作。例如，去中心化無線網絡即使部分熱點離線，整體服務依然暢順，不像中心化電訊網絡於大型故障時會全線癱瘓。
DePINs 亦鼓勵創新，加速新方案落地。例如像 Filecoin 這類去中心化儲存網絡，允許用戶免投資大型數據中心，即可出租閒置空間；不僅令成本降低，還可根據本地需求提供多元化服務。
社區主導的 DePINs 亦賦予參與者真正掌控權，讓他們直接享受網絡發展帶來的利益，激發長期承諾。這種歸屬感，尤其能推動基建可持續與共融發展，特別是在傳統供應商未能提供服務的地區。
總結而言，DePINs 有效解決了中心化基建的種種問題，提高覆蓋率、效能、韌性及創新能力，使社區能更自主地掌控必要服務，減少對大型企業的依賴。
DePINs 的運作模式
DePINs 的運作核心是所謂「DePIN 飛輪效應」，即一個自我增強的循環，推動網絡持續增長與可持續發展。隨著用戶數目增多，對資源（如儲存、連接、能源等）的需求提升，令用戶基礎壯大。需求上升，帶動代幣增值，吸引更多服務供應者貢獻硬件或服務來配合需求。
服務供應者愈多，網絡容量與穩定性隨之提升，服務質素更佳，進一步吸引更多用戶，形成可擴展、社區驅動的體系，無需龐大中心化投資。
DePINs 主要以實體基建、區塊鏈技術及代幣獎勵組合運作。參與者可以貢獻硬件或服務，如出租閒置硬碟空間、部署無線熱點或提供運算力。區塊鏈則作為數碼骨幹，記錄交易、確保透明度，並以智能合約執行規則。
舉例說，Filecoin 要求儲存供應者提供密碼學證明以保障資料安全，並需鎖定抵押品，若不履行承諾抵押便會被銷毀，確保網絡可靠性。Helium 則讓熱點經營者透過「覆蓋證明」（PoC）機制獲 HNT 代幣，按實際覆蓋分配獎勵，以激勵網絡擴展。
DePINs 獎勵模式旨在將所有參與者的利益與整體網絡增長對齊。每貢獻一次便可獲得代幣，誘使參與者長期維護和擴展基礎設施，最終形成自給自足的生態。這些代幣可於交易所買賣、質押賺取額外獎勵，或用於生態圈內的服務，帶動長遠參與。
智能合約令交易自動化，確保獎勵分配公平，減少中介參與，提升網絡的信任度。以能源交易 DePIN（如 Powerledger）為例，智能合約可於滿足條件時自動執行點對點能源交易。
由於 DePINs 依賴分佈各地的實體裝置，安全性也十分關鍵。要確保去中心化網絡的數據及設備經加密技術與分散治理模式有效保護，避免黑客威脅及保障私隱。其去中心化特性進一步杜絕單點故障，比起中心化系統更具韌性，抵禦故障或攻擊。
總括而言，DePINs 是藉將實體基建與區塊鏈科技結合，帶來透明安全、靠代幣獎勵推動的去中心化系統，全面契合 Web3 未來願景。
DePINs 的應用場景
DePINs 涵蓋多個行業應用範疇，充分發揮去中心化模式優勢，提高效率及覆蓋率。其中一個顯著例子是去中心化儲存：項目如 Filecoin、Arweave、Sia 讓用戶將儲存空間出租，成為中心化雲端儲存的替代方案。
這類網絡提供更安全私隱的數據儲存服務，減少數據外洩等風險，同時令資費更具彈性。例如，Filecoin 現已有超過 3,000 個儲存供應者貢獻龐大容量，突顯其規模與增長。
另一個重要應用為無線連接服務，以 Helium 為代表，目前已部署超過 100 萬個熱點... to create a decentralized wireless network for IoT devices. Helium’s success demonstrates how community-driven networks can provide cost-effective alternatives to traditional telecom providers, offering long-range, economical coverage for IoT devices and beyond.
為物聯網裝置建立一個去中心化無線網絡。Helium 的成功示範咗社群主導嘅網絡點樣可以提供一個比傳統電訊供應商更具成本效益嘅方案，為物聯網裝置以至更廣泛應用提供遠程、經濟實惠嘅覆蓋。
In the energy sector, DePINs facilitate decentralized energy grids where producers (e.g., solar panel owners) can sell excess energy directly to consumers. Projects like Powerledger enable peer-to-peer energy trading, promoting green solutions and reducing reliance on centralized utilities.
喺能源界，DePINs 幫助建立去中心化嘅能源網絡，令生產者（例如太陽能板擁有人）可以將多餘嘅能源直接賣俾消費者。好似 Powerledger 咁嘅項目令到點對點能源交易成為可能，推動環保方案同時減少對傳統能源公司的依賴。
Mobility and transportation are also being transformed by DePINs, with platforms like DRIFE offering ride-sharing services built on blockchain, where drivers are rewarded with tokens for their services. Similarly, DIMO AutoPI creates a mobility network that rewards users for sharing data from their vehicles, enhancing transparency and efficiency in the transportation sector.
出行同交通行業都因為 DePINs 而改變緊。例如 DRIFE 這類平台提供基於區塊鏈嘅共乘服務，司機會因為提供服務而獲得代幣獎勵。同時，DIMO AutoPI 亦建立咗一個流動網絡，用戶分享車輛數據都可以賺獎勵，提升咗交通業界嘅透明度同效率。
Sensor networks represent another innovative use case, with projects like Smartpoint and PlanetWatch using decentralized sensor networks to collect environmental data. Participants deploy sensors and earn tokens for providing accurate data, fostering community-driven environmental monitoring.
感應器網絡亦係另一個創新應用場景，好似 Smartpoint 同 PlanetWatch 呢類項目會用去中心化感應網絡去收集環境數據。參與者安裝感應器並提供準確數據，就可以賺代幣，推動社群型環保監測。
These use cases illustrate the versatility of DePINs and their potential to disrupt traditional infrastructure models across multiple industries. For instance, Helium has expanded to include Helium Mobile, with significant signups in a year, and partners with major networks like Telefónica for coverage, demonstrating its growing adoption.
這些案例展現咗 DePINs 嘅多元化同顛覆傳統基建模式嘅潛力。例如 Helium 已經擴展到 Helium Mobile，一年內吸引大量用戶登記，而且仲同國際大型網絡供應商 Telefónica 合作，突顯其普及增長。
Similarly, Filecoin’s decentralized storage model offers a safer, more reliable alternative to centralized providers like AWS or Dropbox, reducing vulnerabilities and improving pricing efficiency. These examples highlight how DePINs can create more equitable and resilient infrastructure landscapes, aligning with the broader Web3 narrative.
同樣，Filecoin 嘅去中心化儲存方案為市場帶來比 AWS 或 Dropbox 等中心化供應商更安全、更可靠嘅選擇，減少漏洞並提升價格效率。這啲例子都突顯到 DePINs 可以打造一個更公平、更有彈性嘅基礎設施生態，亦同 Web3 嘅大方向接軌。
Building a DePIN
Creating a DePIN involves several key steps that combine technological expertise with community engagement. The first step is defining objectives, which involves clearly outlining what the DePIN aims to achieve - whether it’s providing wireless connectivity, storage solutions, or energy distribution. This requires a thorough understanding of the target market and the specific needs it addresses, such as bridging the digital divide in underserved areas or promoting renewable energy adoption.
建立一個 DePIN 需要幾個重要步驟，結合技術專業同社群參與。第一步係訂立目標，要明確講清楚呢個 DePIN 係想實現咩，例如提供無線連接、儲存解決方案或者能源分配。要做到呢點，需要深入了解目標市場同其需要，例如為落後地區縮窄數碼鴻溝，或者推廣可再生能源。
Next is choosing a blockchain platform, which must meet the project’s needs in terms of scalability, security, and cost. For example, Ethereum is popular for its smart contract capabilities, while IoTeX offers specialized features for IoT and DePINs, simplifying deployment through tools like W3bstream devnet IoTeX, which can reduce capital costs by an order of magnitude and time from years to weeks.
下一步係揀選區塊鏈平台，需考慮可擴展性、安全同成本等需求。例如 Ethereum 因為智能合約而受歡迎，而 IoTeX 則針對物聯網同 DePINs 提供專門功能，更有如 W3bstream devnet IoTeX 等工具，令部署成本大幅下降，部署時間由幾年縮短至幾個星期。
Establishing token economics is crucial, as it involves designing a token model that incentivizes participation and aligns with the network’s goals. This includes deciding on token distribution, reward mechanisms, and governance structures, ensuring that participants are motivated to contribute and maintain the network.
設計好代幣經濟好重要，涉及設計一套能夠激勵用戶參與並同網絡目標一致嘅代幣模型，包括代幣分配、獎勵機制同治理架構，以確保參與者有動力去投入同維持網絡運作。
Developing smart contracts is another critical step, as these contracts automate transactions and reward distribution, requiring security audits to prevent vulnerabilities. For instance, in energy distribution DePINs, smart contracts facilitate peer-to-peer energy trading by automatically executing transactions when certain conditions are met. Deploying hardware is also essential, depending on the type of DePIN - wireless networks might require setting up hotspots, while storage solutions might involve connecting hard drives to the network.
再嚟就要開發智能合約，方便自動化交易同分發獎勵，仲要做足安全審計去防止漏洞。例如，喺能源分配 DePINs，上面嘅智能合約會自動執行點對點能源交易。部署硬件亦係必須步驟，視乎 DePIN 類型——無線網絡可能要安裝熱點，儲存解決方案就可能要接駁硬碟。
Engaging the community is vital for success, as it involves attracting participants by offering clear incentives and building a supportive community through marketing, educational campaigns, and partnerships. For example, Helium raised $360 million to build its DePIN protocol, highlighting the importance of community funding and engagement.
推動社群參與亦係成功關鍵，要用清晰嘅誘因吸引新加入者，透過市場推廣、教育活動同合作伙伴建立一個支持性社群。例如 Helium 就籌咗 3.6 億美元建立其 DePIN 協議，突顯社區集資同參與嘅重要性。
Ensuring security is paramount, as decentralized networks must protect against cyber threats while maintaining data privacy, using encryption techniques and decentralized governance models. Tools like IoTeX’s W3bstream devnet can simplify the deployment process, reducing both time and cost, making it easier for projects to scale. In summary, building a DePIN requires a strategic approach that balances technological innovation with community involvement.
保障網絡安全係至關重要，去中心化網絡要防止網絡攻擊同時保障數據私隱，得靠加密技術同去中心化治理模式。IoTeX 嘅 W3bstream devnet 等工具可以簡化部署流程，減省時間同成本，有助項目擴展。整體嚟講，建立 DePIN 一定要策略性平衡技術創新同社區參與。
Challenges and Considerations
While DePINs hold immense promise, they also face several challenges that must be addressed for widespread adoption. Scalability is a significant concern, as ensuring that the network can handle increasing demand without compromising performance is crucial as more users join.
雖然 DePINs 前景非常樂觀，但要普及落地都要解決唔少挑戰。可擴展性係一大考驗，隨住用戶增加，要確保網絡能處理更大需求而唔影響效能，技術上好有難度。
For instance, as more participants contribute resources, the infrastructure must scale efficiently to maintain service quality, which can be technically complex. Interoperability is another hurdle, as connecting different DePINs and integrating them with existing infrastructure is essential for creating a cohesive ecosystem. Lack of standardization could limit cross-network functionality, hindering adoption.
例如，愈多參與者貢獻資源，基建就要有效擴充先維持服務質量，呢點技術上唔簡單。互操作性都係要解決問題，因為要整合唔同 DePINs 同傳統基建，建立一個連貫生態。如果冇標準化，跨網絡功能會受阻，令普及進展慢。
Participants must trust the network to safeguard their information, especially in industries like healthcare or finance, where data breaches can have severe consequences. Regulatory hurdles also pose challenges, as navigating legal frameworks around physical infrastructure and cryptocurrencies varies by jurisdiction. This regulatory uncertainty could slow adoption, particularly in regulated sectors like telecoms, where compliance with local laws is essential.
參與者要信任網絡能保障其資料安全，尤其醫療同金融等行業，一旦洩漏資料就會好嚴重。監管障礙都係挑戰，因為基建同加密貨幣嘅法律規範唔同地區各有異，監管不明朗會拖慢發展，尤其對電訊業等高度監管嘅領域，遵守本地法規係必須嘅。
Additionally, mass adoption depends on reaching a critical mass of participants willing to contribute resources, which may be deterred by high initial costs, lack of technical expertise, or unclear short-term benefits.
另一方面，大規模普及需要夠多參與者願意投放資源，但高昂起步成本、技術門檻、短期利益不明等問題會打擊參與意欲。
Overcoming these challenges will require robust protocols, standardization efforts, and collaboration between projects, regulators, and industry stakeholders. Education and showcasing successful case studies will also be key to overcoming market resistance, particularly in regions where the advantages of decentralization may not be immediately apparent to users accustomed to traditional infrastructure.
要解決上述難題，要有強健協議、推動標準化，同時項目之間、監管者同業界持份者要合作。宣傳教育同示範成功案例都好重要，尤其對慣用傳統基建嘅用戶，令佢哋明白去中心化優勢。
While challenges exist, the potential for DePINs to transform infrastructure is significant, provided these hurdles are addressed effectively.
雖然挑戰存在，但只要有效解決，DePINs 改變基礎設施模式嘅潛力係好巨大。
Market Statistics and Growth
The growth of DePINs is evident not only in adoption trends but also in market capitalization and user participation. As of April 2025, the DePIN sector boasts a total market cap of approximately $14.3 billion, with major contributors like Filecoin, Helium, and Arweave leading the charge. Filecoin alone accounts for over 50% of this figure, underlining the viability of decentralized storage as a cornerstone of the DePIN movement. Helium, meanwhile, has surpassed 1 million deployed hotspots globally, reflecting tangible infrastructure deployment and significant user participation.
DePINs 嘅發展不單反映喺用戶增長，連市值同參與度都見證緊佢嘅成績。截至 2025 年 4 月，DePIN 行業總市值大約 143 億美金，主要由 Filecoin、Helium 同 Arweave 等領軍。單係 Filecoin 市值就超過一半，證明去中心化儲存係 DePIN 生態支柱。而 Helium 熱點裝置全球已超過一百萬台，反映現實基建落地同大量用戶參與。
Projections from Messari place the total addressable market for DePINs at $2.2 trillion today, with expectations of reaching $3.5 trillion by 2028. This growth is fueled by broader adoption of IoT devices, increased demand for edge computing, and a general trend toward decentralization. Statista forecasts over 25 billion connected IoT devices by 2028, many of which could directly interact with or be supported by DePIN infrastructure. These trends suggest an accelerating convergence between physical and digital infrastructure, where DePINs will play a foundational role.
Messari 預計，目前 DePINs 潛在市場超過 2.2 萬億美元，預期 2028 年可達 3.5 萬億美元。促成增長主要係 IoT 裝置普及、邊緣運算需求上升同去中心化大趨勢。Statista 預測到 2028 年將有超過 250 億部 IoT 裝置互聯，其中好大部份可以直接同 DePIN 基建互動或受其支持。以上趨勢顯示實體同數碼基建加速融合，DePINs 會變成新基建基石。
Investor interest further underscores this momentum. DePIN-related projects have collectively raised hundreds of millions in funding. Helium alone secured $360 million to expand its 5G network and token model, while newer entrants like DIMO and Powerledger continue to attract ecosystem funding. VCs and strategic investors increasingly view DePINs as a key pillar in the Web3 landscape, akin to DeFi or NFTs in earlier cycles.
投資者興趣證明咗呢個趨勢。DePIN 項目合共集資達數億美元，例如 Helium 獨自籌咗 3.6 億美元擴展 5G 網絡同代幣經濟；新來者如 DIMO 同 Powerledger 都繼續吸引資金。愈嚟愈多創投同策略投資者，都認為 DePINs 係 Web3 重要支柱，猶如 DeFi 同 NFT 於早期周期角色。
FInal thoughts
DePINs represent a transformative shift in how infrastructure is built, accessed, and governed. By decentralizing ownership and control, they offer a more resilient, inclusive, and community-driven alternative to traditional infrastructure systems. From wireless networks and storage to energy grids and transportation, DePINs are redefining what’s possible when real-world systems intersect with Web3 principles.
DePINs 象徵住基建建設、存取同管理模式嘅重大轉變。透過去中心化持有同控制，佢哋提供一個更有彈性、更多元同由社區主導嘅基建新選擇。由無線網絡、儲存，再到能源網絡同交通，DePINs 重新定義現實基建與 Web3 結合後嘅可能性。
Despite hurdles such as regulatory uncertainty, security concerns, and the need for broader education, the long-term outlook for DePINs remains promising. Projects like Filecoin, Helium, and Powerledger demonstrate the tangible impact of this model, while ongoing innovation - particularly around interoperability, scalability, and incentive structures - will likely unlock even greater potential.
雖然面對監管不明朗、安全隱憂同教育推廣不足等障礙，DePINs 長遠前景依然明朗。Filecoin、Helium、Powerledger 等項目證明咗呢類模式有實際成效。而持續創新——尤其係互操作性、可擴展性同激勵制度——有望進一步釋放更大潛能。
As the world becomes more connected and the demand for decentralized alternatives grows, DePINs stand poised to be a foundational element of the next generation of infrastructure - democratized, tokenized, and powered by the people.
隨住世界愈來愈互聯互通，去中心化解決方案嘅需求亦持續上升，DePINs 有望成為新一代基礎設施嘅基石——大眾共治、資產代幣化，由人民驅動。