引入基本協議：比特幣上的DEFI協議

比特幣是世界上第一個加密貨幣，與其他區塊鍊網絡（如以太坊）相比，傳統上，比特幣的可編程性受到限制。

Bitcoin, the world’s first cryptocurrency, has traditionally been limited in its programmability compared to other blockchain networks like Ethereum. This difference arises from Bitcoin’s emphasis on minimal code changes and its lack of Turing-complete smart contracts. However, the introduction of the Cardinal Protocol by Cardano marks a groundbreaking shift, enabling Bitcoin to participate in decentralized finance (DeFi) without relying on custodians or federated systems. This innovation is made possible by combining Cardano’s smart contract capabilities with cross-chain technology.

比特幣是世界上第一個加密貨幣，與其他區塊鍊網絡（如以太坊）相比，傳統上，比特幣的可編程性受到限制。這種差異源於比特幣對最小代碼變化及其缺乏圖靈完整的智能合約的重視。但是，卡爾達諾（Cardano）引入基本協議標誌著開創性的轉變，使比特幣能夠參與分散的金融（DEFI），而無需依靠託管人或聯邦系統。通過將Cardano的智能合同功能與跨鏈技術相結合，從而使這項創新成為可能。

Cardinal Protocol, developed by Input Output Global (IOG), focuses on unspent transaction outputs (UTXOs), which are the units of value in the Bitcoin blockchain. These UTXOs are transformed into programmable assets on the Cardano blockchain, maintaining the original Bitcoin’s security and allowing it to be used effectively in DeFi.

由輸入輸出全局（IOG）開發的紅衣主教協議集中於未支付的交易輸出（UTXO），這是比特幣區塊鏈中價值單位。這些UTXO被轉換為Cardano區塊鏈上的可編程資產，維護原始比特幣的安全性並允許在DEFI中有效使用它。

“We focused on combining the best of both blockchains to create a protocol that is both trust-minimized and capital-efficient,” says Sebastian Angel, Head of Special Projects at IOG. “This is in contrast to existing bridges, which either place too much trust in a small number of parties or are limited in the types of DeFi use cases they support.”

IOG特殊項目負責人Sebastian Angel說：“我們專注於結合兩種區塊鏈的最佳方法，以創建一個既可以信任的又有資本效率的協議。” “這與現有的橋樑形成鮮明對比，後者要么對少數當事方的信任過多信任，要么在其支持的Defi用例類型中受到限制。”

MuSig2 Multi-Signature Security

Musig2多簽名安全

Cardinal employs MuSig2, an aggregated multi-signature scheme, to lock Bitcoin UTXOs on the Bitcoin base layer. This ensures that the original Bitcoin remains safe while enabling cross-chain functionality. The protocol also uses a rotating operator set and a framework for publishing fraud proofs in the event of operator misconduct.

Cardinal採用Musig2（一種匯總的多簽名方案）將比特幣基礎幣鎖定在比特幣底層上。這確保了原始比特幣在啟用跨鏈功能的同時保持安全。該協議還使用旋轉操作員集和一個框架來發布操作員不當行為時發布欺詐證明。

On the Cardano side, the locked Bitcoin UTXOs are represented as 1:1-pegged non-fungible tokens (NFTs), which retain their on-chain provenance. This allows Ordinals, the new standard for programmable assets on Bitcoin, to circulate within DeFi markets without losing their historical data.

在Cardano方面，鎖定的比特幣UTXOs表示為1：1釘的無固定令牌（NFTS），該令牌保留了其鏈出處。這允許Ordinals（在比特幣上可編程資產的新標準）在不丟失其歷史數據的情況下在Defi市場中傳播。

Users can redeem their wrapped Bitcoin at any time using the same multi-signature keys, providing flexibility and security. Moreover, Cardinal integrates BitVMX, an off-chain verifiable execution framework, to publish fraud proofs to Bitcoin in case of operator behavior deviating from the protocol rules.

用戶可以隨時使用相同的多簽名密鑰兌換包裹的比特幣，從而提供靈活性和安全性。此外，Cardinal將BITVMX集成了一個脫鏈可驗證的執行框架，以在偏離協議規則的操作員行為時向比特幣發布欺詐證明。

This closely aligns the bridge’s security model with Bitcoin’s own, offering a trust-minimized alternative to existing federated solutions like wBTC.

這將橋樑的安全模型與比特幣的安全模型緊密相符，為WBTC等現有聯合解決方案提供了信任最小的替代方案。

Why Is Cardinal Protocol Significant for Bitcoin DeFi?

為什麼針對比特幣Defi的基本協議很重要？

Trust-Minimized Design

信任最小的設計

Unlike custodial and federated bridges, Cardinal’s MuSig2 model reduces the trust surface while maintaining capital efficiency. This design eliminates risks such as rehypothecation, where custodians reuse user assets without transparency, and operational risks associated with single points of failure.

與託管和聯邦橋樑不同，紅衣主教的Musig2模型在保持資本效率的同時降低了信任表面。這種設計消除了諸如重新支配的風險，託管人在沒有透明度的情況下重用用戶資產以及與單個失敗點相關的操作風險。

Expanded Use Cases for Bitcoin

擴展比特幣用例

With Cardinal, Bitcoin holders can now:

使用紅衣主教，比特幣持有人現在可以：

* Participate in automated market maker (AMM) pools.

*參加自動做市商（AMM）池。

* Lend and borrow assets for yield generation.

*借入和借資產以產生產量。

* Use Ordinals as collateral for loans.

*使用序數作為貸款的抵押品。

* Auction or trade Bitcoin-based assets across chains.

*跨連鎖店的拍賣或基於貿易比特幣的資產。

This opens up a new chapter for Bitcoin in the rapidly evolving DeFi landscape.

這為快速發展的Defi景觀中的比特幣打開了新的章節。

Enhanced Security and Efficiency

增強的安全性和效率

Cardano’s eUTXO accounting system closely mirrors Bitcoin’s UTXO structure, simplifying equivalence proofs for symmetric pegs. Additionally, deterministic transaction costs and low fee volatility make the protocol more predictable and user-friendly, especially for DeFi applications.

Cardano的EUTXO會計系統緊密反映了比特幣的UTXO結構，簡化了對稱釘的等價證明。此外，確定性交易成本和低費用波動使協議更具可預測性和用戶友好，尤其是對於Defi應用程序。

Challenges and Future Developments

挑戰和未來的發展

While Cardinal Protocol is a significant milestone, it is not yet a turnkey consumer product. The following areas require further development:

雖然紅衣主教協議是一個重要的里程碑，但它尚不是交鑰匙的消費產品。以下領域需要進一步發展：

* Technical Enhancements

*技術增強功能

* Improved SNARK-based burn-proof generation.

*改進了基於Snark的防燃燒的一代。

* Recursive state proofs for better scalability.

*遞歸狀態證明可更好地可伸縮性。

* Enhanced wallet UX.

*增強的錢包UX。

* Independent Audits

*獨立審核

* The MuSig2 implementation and operator rotation logic need rigorous scrutiny to ensure robustness against potential exploits.

* MUSIG2實施和操作員輪換邏輯需要嚴格的審查，以確保對潛在漏洞的魯棒性。

* Liquidity Growth

*流動性增長

* Cardano’s TVL has seen fluctuations, but the team remains optimistic about attracting new liquidity from Bitcoin.

* Cardano的TVL發生了波動，但團隊對吸引比特幣的新流動性仍然樂觀。

How Does Cardinal Compare to Other Bitcoin DeFi Solutions?

紅衣主教與其他比特幣Defi解決方案相比如何？

Cardinal stands out due to its trust-minimized approach and integration with Cardano’s smart contracts. Unlike traditional wrapped Bitcoin solutions, which rely on centralized custodians, Cardinal ensures that users retain full control over their assets. This innovation addresses long-standing concerns about security and transparency in the Bitcoin DeFi ecosystem.

紅衣主教由於其信任最小化的方法以及與Cardano的智能合約的集成而脫穎而出。與依靠集中託管人的傳統包裹的比特幣解決方案不同，紅衣主教可確保用戶保留對其資產的完全控制。這項創新解決了對比特幣Defi生態系統安全性和透明度的長期關注。

Despite the technical challenges involved in bridging two distinct blockchain networks, institutions and developers are increasingly exploring cross-chain protocols to connect different blockchains and expand the possibilities of decentralized technologies.

儘管橋接兩個不同的區塊鍊網絡涉及技術挑戰，但機構和開發人員越來越多地探索跨鏈協議，以連接不同的區塊鏈並擴大了分散技術的可能性。