Coinbase 的 cbBTC 改變了比特幣及其持有者的遊戲規則

儘管比特幣（BTC 1.35%）本質上仍然是地球上最有價值的加密貨幣，但它缺乏其他加密貨幣所擁有的許多性能

Bitcoin (CRYPTO: BTC) is without doubt one of the most invaluable cryptocurrencies on the planet, however did you know that it lacks a lot of the performance different cryptocurrencies possess at present? Notably, good contracts are lacking from Bitcoin’s arsenal.

比特幣（CRYPTO：BTC）無疑是地球上最有價值的加密貨幣之一，但您是否知道它缺乏目前其他加密貨幣所擁有的許多性能？值得注意的是，比特幣的武器庫中缺乏好的合約。

With out good contracts, Bitcoin holders are unable to instantly take part within the quickly rising decentralized finance (DeFi) economic system. On this thriving digital panorama, customers can interact in actions like lending, borrowing, yield farming, and even shopping for non-fungible tokens (NFTs).

如果沒有良好的合約，比特幣持有者無法立即參與快速崛起的去中心化金融（DeFi）經濟體系。在這個蓬勃發展的數位全景中，客戶可以進行借貸、流動性挖礦、甚至購買不可替代代幣（NFT）等互動。

However all this could quickly change because of Coinbase‘s (NASDAQ:COIN) latest innovation. Right here is why the launch of its cbBTC is a sport changer for Bitcoin and its holders.

然而，由於 Coinbase（納斯達克股票代碼：COIN）的最新創新，這一切可能很快就會改變。這就是為什麼 cbBTC 的推出改變了比特幣及其持有者的遊戲規則。

Bitcoin in comparison with an old school phone

比特幣與老式手機的比較

Consider Bitcoin as an old school phone — extremely dependable, however restricted in performance. In distinction, newer cryptocurrencies perform extra like smartphones, permitting customers to have interaction with a variety of progressive purposes throughout the DeFi economic system.

將比特幣視為一款老式手機——極其可靠，但性能受到限制。相較之下，新的加密貨幣的功能更像智慧型手機，允許用戶與 DeFi 經濟體系中的各種先進應用程式互動。

The important thing distinction lies in good contract performance, which Bitcoin lacks. Good contracts allow different cryptocurrencies to work together with decentralized applications (dApps), facilitating a variety of use instances past merely holding worth. Because of this, Bitcoin stays remoted from the broader DeFi economic system and its potential improvements.

重要的區別在於良好的合約表現，而比特幣則缺乏這一點。良好的合約允許不同的加密貨幣與去中心化應用程式（dApp）一起工作，促進各種使用實例而不僅僅是持有價值。正因為如此，比特幣仍然遠離更廣泛的 DeFi 經濟體系及其潛在的改進。

However new applied sciences are bridging this hole. Wrapped Bitcoin, Stacks (a Bitcoin Layer 2 answer), and numerous different tasks have tried to introduce good contract performance to Bitcoin however have completed so with restricted success.

然而，新的應用科學正在彌補這個漏洞。 Wrapped Bitcoin、Stacks（比特幣第 2 層解決方案）和許多其他專案都試圖為比特幣引入良好的合約效能，但取得的成功有限。

Now, that could be altering as Coinbase has launched a brand new Bitcoin-equivalent token: cbBTC. This can be a wrapped model of Bitcoin that exists on the Ethereum (CRYPTO: ETH) and Base (CRYPTO: BASE) networks, two blockchains with burgeoning DeFi economies.

現在，隨著 Coinbase 推出了一種全新的比特幣等價代幣：cbBTC，這種情況可能會改變。這可以是存在於以太坊 (CRYPTO: ETH) 和 Base (CRYPTO: BASE) 網路上的比特幣封裝模型，這兩個區塊鏈具有蓬勃發展的 DeFi 經濟。

By creating cbBTC, Coinbase permits customers to leverage their Bitcoin in DeFi whereas conserving the unique Bitcoin absolutely backed.

透過創建 cbBTC，Coinbase 允許用戶在 DeFi 中利用他們的比特幣，同時保留唯一的比特幣絕對支援。

How does cbBTC work and what makes it totally different?

cbBTC 是如何運作的以及它有何不同？

cbBTC is basically a token that represents Bitcoin at a 1:1 ratio. The method is easy: Bitcoin holders ship their BTC to a Coinbase-controlled Bitcoin tackle. As soon as the transaction is confirmed on the Bitcoin blockchain, an equal quantity of cbBTC is minted on Ethereum or Base and despatched to the consumer’s pockets. When redeeming, customers ship cbBTC again to Coinbase, which burns the tokens and transfers the equal quantity of BTC to the consumer’s Bitcoin tackle, finishing the method in reverse.

cbBTC 基本上是一種以 1:1 的比例代表比特幣的代幣。方法很簡單：比特幣持有者將他們的比特幣發送到 Coinbase 控制的比特幣地址。一旦交易在比特幣區塊鏈上得到確認，等量的 cbBTC 就會在以太坊或 Base 上鑄造並發送到消費者的口袋。兌換時，用戶將 cbBTC 再次發送到 Coinbase，Coinbase 銷毀代幣並將等量的 BTC 轉移到用戶的比特幣地址，以相反的方式完成該過程。

What units cbBTC other than different makes an attempt at a DeFi-capable Bitcoin like WBTC or Stacks is its ease of use. Coinbase gives a easy, seamless course of during which Bitcoin holders can convert their BTC into cbBTC with out leaving the Coinbase platform.

cbBTC 與 WBTC 或 Stacks 等具有 DeFi 功能的比特幣不同的是，它的易用性。 Coinbase 提供了一個簡單、無縫的流程，在此期間比特幣持有者可以將他們的 BTC 轉換為 cbBTC，而無需離開 Coinbase 平台。

In contrast to extra advanced alternate options that require multistep processes and a deep understanding of blockchain know-how, Coinbase’s answer is frictionless, making it accessible to mainstream customers.

與需要多步驟流程和對區塊鏈專業知識的深入理解的更高級替代選項相比，Coinbase 的答案是無摩擦的，使其可供主流客戶使用。

This ease of entry might be essential in unlocking billions in dormant Bitcoin capital and will end in a big influx of Bitcoin into DeFi markets, doubtlessly driving Bitcoin’s worth larger.

這種進入的便利性可能對於釋放數十億美元的休眠比特幣資本至關重要，並將最終導致比特幣大量湧入 DeFi 市場，無疑會推高比特幣的價值。

Unlocking Bitcoin’s financial utility

解鎖比特幣的金融效用

Bitcoin is at the moment valued at about $1.1 trillion, however its major use is as a retailer of worth. Though this technique has been efficient, it leaves a lot of Bitcoin’s broader financial utility untapped.

比特幣目前價值約 1.1 兆美元，但其主要用途是作為價值儲存。儘管這種技術很有效，但它使比特幣的許多更廣泛的金融效用尚未開發。

Consider strolling right into a financial institution to acquire a mortgage with a bag of gold bars — it is cumbersome and inefficient. The identical will be stated for Bitcoin in its present kind.

考慮帶著一袋金條直接走進一家金融機構申請抵押貸款——這既麻煩又低效。目前的比特幣也是如此。

Nevertheless, with the introduction of cbBTC, Bitcoin holders can now leverage their property inside DeFi simply. This permits new use instances like lending Bitcoin to earn curiosity, borrowing towards Bitcoin holdings, and even collaborating in yield farming, or lending crypto to earn a return.

然而，隨著 cbBTC 的推出，比特幣持有者現在可以簡單地在 DeFi 中利用他們的財產。這允許新的使用實例，例如借出比特幣來賺取利息，借入比特幣持有量，甚至在流動性挖礦中進行合作，或借出加密貨幣來賺取回報。

By enabling Bitcoin for use as collateral or for different DeFi functions, its worth will be additional unlocked, doubtlessly resulting in massive features within the crypto’s worth.

透過將比特幣用作抵押品或用於其他 DeFi 功能，其價值將進一步釋放，這無疑會導致加密貨幣價值的巨大變化。

The truth is, Ethereum, extensively thought of the spine of the DeFi economic system, has a market cap of about $300 billion, and at one level soared to just about $550 billion over the past bull market. A big a part of this valuation is because of its good contract performance and utility inside DeFi.

事實是，以太坊被廣泛認為是 DeFi 經濟體系的支柱，其市值約為 3000 億美元，在過去的牛市中曾一度飆升至約 5500 億美元。這一估值很大一部分是因為其良好的合約表現和在 DeFi 內部的實用性。

If Bitcoin can replicate a few of Ethereum’s success on this space, it is not laborious to think about Bitcoin’s market cap rising by tons of of billions of {dollars} over time. The extra Bitcoin is utilized in DeFi, the upper the demand for it turns into, driving up its worth because the accessible provide plateaus.

如果比特幣可以複製以太坊在這個領域的一些成功，那麼不難想像比特幣的市值會隨著時間的推移增加數十億美元。 DeFi 中使用的比特幣越多，對其的需求就越高，隨著可用供應量趨於穩定，比特幣的價格就會上漲。

We’re solely in the beginning of this revolution, however the trajectory is evident: Bitcoin’s integration into the DeFi ecosystem is inevitable, and improvements like Coinbase’s cbBTC are the important thing to unlocking Bitcoin’s full potential. As Bitcoin expands its function past only a digital gold-like asset, its long-term worth proposition is about to develop

我們仍處於這場革命的開始階段，但軌跡是顯而易見的：比特幣融入 DeFi 生態系統是不可避免的，而像 Coinbase 的 cbBTC 這樣的改進對於釋放比特幣的全部潛力至關重要。隨著比特幣的功能不斷擴展，不再只是類似數位黃金的資產，其長期價值主張即將發展