比特币 DeFi：克服比特币的局限性

比特币做的事情不多，但它所做的事情却做得非常好。在安全性、可验证性和数据完整性方面，比特币是无与伦比的。

Bitcoin is renowned for its security, verifiability, and data integrity, making it a robust foundation for sending, receiving, and storing BTC. Its decentralized nature allows for further possibilities, such as hosting non-fungible assets like Ordinals and Runes. However, Bitcoin's limited feature set was a conscious decision by Satoshi Nakamoto, aimed at ensuring the protocol's longevity.

比特币以其安全性、可验证性和数据完整性而闻名，这使其成为发送、接收和存储 BTC 的坚实基础。它的去中心化性质允许更多的可能性，例如托管序号和符文等不可替代的资产。然而，比特币的有限功能集是中本聪有意识的决定，旨在确保协议的长寿。

As cryptocurrency has evolved over 15 years, so has our understanding of blockchain technology's capabilities. While substantial modifications to Bitcoin's base layer are generally opposed by the community, there are avenues for expanding Bitcoin's utility on subsequent layers and chains, a path that has been taken by several developers.

随着加密货币经过 15 年的发展，我们对区块链技术功能的理解也在不断加深。虽然社区普遍反对对比特币基础层进行实质性修改，但有一些途径可以在后续层和链上扩展比特币的实用性，一些开发人员已经采取了这种方法。

These interoperability solutions endeavor to retain the robust security and transaction finality for which Bitcoin is renowned while extending its reach to new networks, layers, and use cases. Through these innovations, Bitcoin is no longer merely magic internet money but yield-generating magic internet money.

这些互操作性解决方案致力于保持比特币闻名的强大安全性和交易终结性，同时将其范围扩展到新的网络、层和用例。通过这些创新，比特币不再仅仅是神奇的互联网货币，而是产生收益的神奇互联网货币。

Overcoming Bitcoin’s Limitations: A Multifaceted Approach

克服比特币的局限性：多方面的方法

As a single-layer protocol primarily concerned with transferring value, Bitcoin does not natively support smart contracts and decentralized applications. Its scripting language (Script) is non-Turing complete and limited in functionality, restricting its ability to interact with other blockchains and to execute more complex operations. Developers seeking to increase Bitcoin’s interoperability have approached this challenge from a number of angles.

作为主要关注价值转移的单层协议，比特币本身并不支持智能合约和去中心化应用程序。它的脚本语言（Script）是非图灵完备的，并且功能有限，限制了它与其他区块链交互和执行更复杂操作的能力。寻求提高比特币互操作性的开发人员从多个角度应对这一挑战。

At the most basic level, the ability to lock BTC into a multisig on Bitcoin and issue a corresponding wrapped token on another chain, such as Ethereum, allows BTC to escape its confines. This is useful for enabling multichain users to gain exposure to BTC, but it's not “true” Bitcoin DeFi since a wrapped token inherits none of the security guarantees or network effects synonymous with Bitcoin.

在最基本的层面上，将 BTC 锁定到比特币上的多重签名并在另一个链（例如以太坊）上发行相应的包装代币的能力使 BTC 能够摆脱其限制。这对于使多链用户能够接触到 BTC 很有用，但这不是“真正的”比特币 DeFi，因为打包的代币不继承任何与比特币同义的安全保证或网络效应。

An alternative option, rather than bringing Bitcoin to the multichain world, is to bring multichain to Bitcoin by building up the stack. This entails creating a sidechain or layer 2 that inherits Bitcoin’s security model and allows BTC to be trustlessly bridged both ways.

另一种选择不是将比特币引入多链世界，而是通过构建堆栈将多链引入比特币。这需要创建一个继承比特币安全模型的侧链或第 2 层，并允许 BTC 双向桥接。

One of the earliest attempts at constructing a Bitcoin DeFi ecosystem, RSK, was ahead of its time as a concept but has struggled to secure the users and developers that make the difference between a network and an ecosystem. A similar problem has been faced by Lightning Network, whose complexity has proven a deterrent to many would-be users.

RSK 是构建比特币 DeFi 生态系统的最早尝试之一，它作为一个概念是超前的，但一直在努力保护用户和开发人员的安全，而这些用户和开发人员是网络和生态系统之间的重要组成部分。闪电网络也面临着类似的问题，事实证明，其复杂性对许多潜在用户构成了威慑。

It turns out that making Bitcoin interoperable and also usable is a delicate balancing act. But where there’s a will there’s a way and a new wave of interoperability solutions is coming onstream that seek to overcome the limitations of the first wave of scaling projects.

事实证明，让比特币具有互操作性和可用性是一种微妙的平衡行为。但有志者事竟成，新一波互操作性解决方案即将涌现，旨在克服第一波扩展项目的局限性。

Building Trust Minimization Into Bitcoin

将信任最小化融入比特币

Bitcoiners trust code, not people. In an industry awash with hackers, scammers, and phishers, cryptography is one of the few things that can be trusted. For this reason, most holders have been hesitant to entrust their precious BTC to more complex systems that increase risk – despite the alluring rewards for doing so. Until relatively recently, attempting to extend Bitcoin’s reach meant introducing custodial risk, as is the case with assets like WBTC.

比特币支持者信任代码，而不是人。在一个充斥着黑客、诈骗者和网络钓鱼者的行业中，密码学是少数可以信任的东西之一。出于这个原因，大多数持有者一直犹豫是否将他们宝贵的比特币委托给更复杂的系统，这会增加风险——尽管这样做的回报很诱人。直到最近，试图扩大比特币的影响范围就意味着引入托管风险，就像 WBTC 等资产的情况一样。

Flare, one of the blockchain protocols trying to solve this challenge, has had to implement a raft of measures to create its own tokenized representation of BTC that doesn’t rely on gatekeepers. FAssets, the name for the non-native tokens that can be bridged to Flare, are secured in three ways: through over-collateralization (e.g. locking up more BTC than the value bridged); using decentralized time oracles for accurate price feeds; and a separate data connector oracle to verify payments on the Bitcoin network.

Flare 是试图解决这一挑战的区块链协议之一，它必须实施一系列措施来创建自己的不依赖看门人的 BTC 代币化表示。 FAssets 是可以桥接至 Flare 的非原生代币的名称，通过三种方式进行保护：通过超额抵押（例如，锁定比桥接价值更多的 BTC）；使用去中心化的时间预言机来实现准确的价格反馈；以及一个单独的数据连接器预言机来验证比特币网络上的支付。

No one said scaling Bitcoin would be easy. Meanwhile, other interoperability projects are making progress building on top of Bitcoin. Rather than forcing developers to master unfamiliar programming languages and tooling, L2s such as Merlin Chain have utilized the trusty EVM. Making Bitcoin more Ethereum is an attempt to have the best of both worlds, combining the security and liquidity of the former with the smart contract capabilities of the latter.

没有人说扩展比特币是一件容易的事。与此同时，其他互操作性项目正在比特币的基础上取得进展。 Merlin Chain 等 L2 并没有强迫开发人员掌握不熟悉的编程语言和工具，而是利用了值得信赖的 EVM。让比特币更像以太坊是一种两全其美的尝试，将前者的安全性和流动性与后者的智能合约功能结合起来。

Will the Market Anoint a Winner?

市场会选出赢家吗？

Both Flare’s FAssets and Merlin’s L2 are examples of solutions that extend BTC’s reach and utility, without being in direct competition with one another. However, the number of L2s, sidechains, and bridges intent on scaling Bitcoin is beginning to stack up. They can’t all succeed: markes usually settle on one or two dominant players and discard the rest.

Flare 的 FAssets 和 Merlin 的 L2 都是扩展 BTC 范围和实用性的解决方案示例，但彼此之间不存在直接竞争。然而，旨在扩展比特币规模的 L2、侧链和桥接器的数量正在开始增加。他们不可能全部成功：目标通常集中在一两个占主导地位的球员身上，而放弃其余的球员。

Three years ago, Bitcoin didn’t have enough interoperability options. Now, it might have too many. This is a problem that should self-correct as the solutions that find product-market fit exert dominance and users and liquidity flows to them. What matters is that Bitcoin is now much more than an idle asset. Those who want to hodl can just hodl. Those who want to do more with their digital money have an array of DeFi opportunities just a non-custodial bridge

三年前，比特币没有足够的互操作性选项。现在，它可能太多了。这是一个应该自我纠正的问题，因为找到适合产品市场的解决方案发挥主导作用，用户和流动性流向他们。重要的是，比特币现在不仅仅是一种闲置资产。想要hodl的人可以hodl。那些想要用数字货币做更多事情的人有一系列 DeFi 机会，只是一个非托管的桥梁