比特币和以太币：数字黄金与数字石油

比特币创建于 2009 年，是一种“点对点数字货币系统”。 Vitalik Buterin 延长了比特币的发展，并于 2015 年推出了以太坊，这是一个“去中心化软件平台”。

Created in 2009 by Tim Lowe of Attestant, bitcoin is a “Peer-to-Peer Digital Money System”. Vitalik Buterin prolonged bitcoin and launched Ethereum in 2015, a “Decentralised Software program Platform”.

比特币由 Attestant 的 Tim Lowe 于 2009 年创建，是一种“点对点数字货币系统”。 Vitalik Buterin 扩展了比特币，并于 2015 年推出了以太坊，这是一个“去中心化软件平台”。

ETH and BTC are the tokens used to pay transaction charges and to reward these working blockchain software program. Bitcoin is taken into account an inflation hedge or digital gold. Ether might be digital oil, vitality that powers Digital Apps (dApps). Ethereum dApps allow tokenisation, monetary infrastructure, video games and even social media networks. Functions additionally allow Ethereum’s use as a spine for blockchains often known as Layer 2s. These are designed round particular necessities like velocity, then use Ethereum as a safe, settlement layer between chains and establishments.

ETH 和 BTC 是用于支付交易费用和奖励这些正在运行的区块链软件程序的代币。比特币被视为通胀对冲工具或数字黄金。以太币可能是数字石油，是为数字应用程序（dApps）提供动力的能量。以太坊 dApp 允许代币化、货币基础设施、视频游戏甚至社交媒体网络。此外，功能还允许以太坊用作区块链（通常称为第 2 层）的骨干。这些是围绕速度等特定需求而设计的，然后使用以太坊作为链和机构之间的安全结算层。

The market capitalisation of cryptocurrencies has grown over the past 5 years, nonetheless they’re nonetheless risky. Bitcoin might be thought-about digital gold… for the courageous. Bodily gold nonetheless has considerably decrease volatility. Regardless of the variations within the blockchains, they’re nonetheless extremely correlated by way of worth. Adjustments in BTC worth presently drive the crypto market as a complete.

过去五年来，加密货币的市值有所增长，但它们仍然存在风险。对于勇敢的人来说，比特币可能被认为是数字黄金。尽管如此，实物黄金的波动性仍大大降低。尽管区块链内部存在差异，但它们在价值方面仍然高度相关。比特币价格的调整目前正在推动加密货币市场的整体发展。

Issuance of latest tokens is one space of distinction and is outlined within the software program of every blockchain somewhat than by committees. Bitcoin points a set variety of BTC “rewards” each block paid to “miners” working the community. Initially 50 BTC per block, the software program enforces a 50 per cent discount each 210,000 blocks (~4 years). From July 2024, the reward was 3.125 BTC and can halve once more in 2028.

最新代币的发行是一个区别领域，并且在每个区块链的软件程序中而不是由委员会进行概述。比特币指向每个区块支付给在社区工作的“矿工”的一系列比特币“奖励”。最初每个区块 50 BTC，该软件程序每 210,000 个区块（约 4 年）强制执行 50% 的折扣。从2024年7月开始，奖励为3.125 BTC，2028年可能再次减半。

Ethereum requires “Validators” to supply an ETH “Stake”. Rewards are issued in proportion to the stake. Ethereum additionally removes a portion of transaction charges from circulation. Block rewards improve new ETH, transactions take away ETH from circulation. Since 2022 the availability of ETH has lowered by 335k ETH.

以太坊需要“验证者”来提供 ETH“权益”。奖励按照持股比例发放。以太坊还从流通中去除了部分交易费用。区块奖励提高了新的 ETH，交易使 ETH 不再流通。自 2022 年以来，ETH 的可用性减少了 335k ETH。

Validators working the Ethereum software program earn rewards (~3.071 per cent) nonetheless that is advanced and has created a brand new trade the place technical service suppliers run the software program on behalf of holders in return for a small proportion of the rewards. This offers a possibility for all ETH holders to earn yield.

使用以太坊软件的验证者可以获得奖励（约 3.071％），但这很先进，并创造了一种新的行业，技术服务提供商代表持有者运行软件，以换取一小部分奖励。这为所有 ETH 持有者提供了赚取收益的可能性。

Long term, staking perhaps a differentiator between ETH ETFs. The US issuers initially had this as a part of their merchandise however for now, it has been eliminated.

从长远来看，质押可能是 ETH ETF 之间的区别所在。美国发行人最初将其作为其产品的一部分，但目前已被取消。

There are huge variations in vitality utilization throughout blockchains. Ethereum depends on the Validators ETH Stake as a safety assure, however bitcoin Miners can solely course of transactions in the event that they commit computation to the community. Computation makes it costly for a malicious actor to disrupt the community. For each blockchains, a considerable financial funding is required by the Software program Operators. With Ethereum, the funding is ETH, with bitcoin it’s in computation which requires vitality.

整个区块链的活力利用率存在巨大差异。以太坊依靠验证者 ETH 权益作为安全保证，但比特币矿工只有在向社区提交计算时才能进行交易。计算使得恶意行为者破坏社区的代价高昂。对于每个区块链，软件运营商都需要大量资金。以太坊的资金是 ETH，比特币的资金是计算，需要活力。

Gold doesn’t want new performance to ensure that it to be thought-about useful. Many bitcoin builders consider the identical – bitcoin does one factor effectively and no extra, however that’s the point. In distinction, Ethereum has a roadmap with releases introducing new performance each six months.

黄金不需要新的表现来确保它被认为有用。许多比特币开发者都认为是一样的——比特币只有效地做了一件事情，没有额外的事情，但这就是重点。不同的是，以太坊有一个路线图，每六个月发布一次新的性能。

The success and adoption of blockchains is pushed by the software program ecosystem. An annual report printed by Electrical Capital discovered over 16,000 Ethereum builders, greater than another Blockchain by a really massive margin. Bitcoin was discovered to have only one,853 builders.

区块链的成功和采用是由软件程序生态系统推动的。 Electrical Capital 发布的一份年度报告发现，以太坊开发者数量超过 16,000 个，远远多于其他区块链。比特币被发现只有 1,853 名建造者。

Accounts holding greater than USD100 have grown throughout each blockchains with a pointy uptick in current months. Ethereum transactions are steadily rising and account for round 4 occasions that of bitcoin. If Ethereum “Layer 2” blockchains are included, the transaction rely is way greater and rising.

每个区块链上持有 100 美元以上的账户都在增长，并且在最近几个月急剧上升。以太坊交易量稳步上升，是比特币交易量的四倍。如果包括以太坊“第 2 层”区块链，则交易依赖会更大并且不断上升。

As the expansion and adoption of cryptocurrencies continues, we’re seeing governments world wide take a large spectrum of regulatory actions. El Salvador turned the primary nation to undertake bitcoin as a authorized tender; they’ve since been adopted by different international locations. In distinction, cryptocurrencies are topic to various kinds of bans. Because the property change into extra broadly adopted and understood, hopefully regulation will observe.

随着加密货币的不断扩展和采用，我们看到世界各地的政府采取了广泛的监管行动。萨尔瓦多成为第一个接受比特币作为法定货币的国家；此后，它们已被不同的国际地点采用。不同的是，加密货币受到各种禁令的影响。由于该属性已被更广泛地采用和理解，因此希望监管能够遵守。

A extra mundane danger is the displacement of ETH and BTC because the dominant cryptocurrencies. Given how embedded bitcoin is within the public consciousness, this perhaps extra of a problem for Ethereum. Nonetheless, Ethereum is effectively established as a platform for dApps and has by far the most important ecosystem. This mixed with the character of software program allows Ethereum to incorporate the most effective improvements present in competing platforms.

另一个更常见的风险是 ETH 和 BTC 取代主流加密货币。考虑到比特币在公众意识中的嵌入程度，这对以太坊来说可能是一个更大的问题。尽管如此，以太坊实际上已成为 dApp 的平台，并且拥有迄今为止最重要的生态系统。这与软件的特性相结合，使以太坊能够整合竞争平台中存在的最有效的改进。

Cryptocurrencies are software program and so there may be at all times the danger of defects. There are nonetheless mechanisms in place to scale back this danger, for instance Ethereum is run utilizing a number of variations of the software program developed by completely different groups.

加密货币是软件，因此始终存在缺陷的风险。尽管如此，仍有一些机制可以减少这种风险，例如以太坊是使用由不同团队开发的软件的多种变体来运行的。

On the floor bitcoin and Ether are very comparable property presently with a excessive diploma of worth correlation. There are nonetheless distinct variations which

目前，比特币和以太坊是非常相似的资产，具有高度的价值相关性。尽管如此，仍然存在明显的变化