Coinbase 的 cbBTC 改变了比特币及其持有者的游戏规则

尽管比特币（BTC 1.35%）本质上仍然是地球上最有价值的加密货币，但它缺乏其他加密货币所拥有的许多性能

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.

比特币（CRYPTO：BTC）无疑是地球上最有价值的加密货币之一，但您是否知道它缺乏目前其他加密货币所拥有的许多性能？值得注意的是，比特币的武器库中缺乏好的合约。

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).

如果没有良好的合约，比特币持有者无法立即参与快速崛起的去中心化金融（DeFi）经济体系。在这个蓬勃发展的数字全景中，客户可以进行借贷、流动性挖矿、甚至购买不可替代代币（NFT）等互动。

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，由于 Coinbase（纳斯达克股票代码：COIN）的最新创新，这一切可能很快就会改变。这就是为什么 cbBTC 的推出改变了比特币及其持有者的游戏规则。

Bitcoin in comparison with an old school phone

比特币与老式手机的比较

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.

将比特币视为一款老式手机——极其可靠，但性能受到限制。相比之下，新的加密货币的功能更像智能手机，允许用户与 DeFi 经济体系中的各种先进应用程序进行交互。

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.

重要的区别在于良好的合约表现，而比特币则缺乏这一点。良好的合约允许不同的加密货币与去中心化应用程序（dApp）一起工作，促进各种使用实例而不仅仅是持有价值。正因为如此，比特币仍然远离更广泛的 DeFi 经济体系及其潜在的改进。

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，新的应用科学正在弥补这一漏洞。 Wrapped Bitcoin、Stacks（比特币第 2 层解决方案）和许多其他项目都试图为比特币引入良好的合约性能，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.

现在，随着 Coinbase 推出了一种全新的比特币等价代币：cbBTC，这种情况可能会发生改变。这可以是存在于以太坊 (CRYPTO: ETH) 和 Base (CRYPTO: BASE) 网络上的比特币封装模型，这两个区块链具有蓬勃发展的 DeFi 经济。

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

通过创建 cbBTC，Coinbase 允许用户在 DeFi 中利用他们的比特币，同时保留唯一的比特币绝对支持。

How does cbBTC work and what makes it totally different?

cbBTC 是如何运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 基本上是一种以 1:1 的比例代表比特币的代币。方法很简单：比特币持有者将他们的比特币发送到 Coinbase 控制的比特币地址。一旦交易在比特币区块链上得到确认，等量的 cbBTC 就会在以太坊或 Base 上铸造并发送到消费者的口袋。兑换时，用户将 cbBTC 再次发送到 Coinbase，Coinbase 销毁代币并将等量的 BTC 转移到用户的比特币地址，以相反的方式完成该过程。

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 与 WBTC 或 Stacks 等具有 DeFi 功能的比特币不同的是，它的易用性。 Coinbase 提供了一个简单、无缝的过程，在此期间比特币持有者可以将他们的 BTC 转换为 cbBTC，而无需离开 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.

与需要多步骤流程和对区块链专业知识深入了解的更高级替代选项相比，Coinbase 的答案是无障碍的，使其可供主流客户使用。

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.

这种进入的便捷性可能对于释放数十亿美元的休眠比特币资本至关重要，并将最终导致比特币大量涌入 DeFi 市场，无疑会推高比特币的价值。

Unlocking Bitcoin’s financial utility

解锁比特币的金融效用

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.

比特币目前的价值约为 1.1 万亿美元，但其主要用途是作为价值存储。尽管这种技术很有效，但它使比特币的许多更广泛的金融效用尚未开发。

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.

考虑带着一袋金条直接走进一家金融机构申请抵押贷款——这既麻烦又低效。目前的比特币也是如此。

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，随着 cbBTC 的推出，比特币持有者现在可以简单地在 DeFi 中利用他们的财产。这允许新的使用实例，例如借出比特币来赚取利息，借入比特币持有量，甚至在流动性挖矿中进行合作，或借出加密货币来赚取回报。

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.

通过将比特币用作抵押品或用于其他 DeFi 功能，其价值将进一步释放，这无疑会导致加密货币价值的巨大变化。

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.

事实是，以太坊被广泛认为是 DeFi 经济体系的支柱，其市值约为 3000 亿美元，在过去的牛市中曾一度飙升至约 5500 亿美元。这一估值很大一部分是因为其良好的合约表现和在 DeFi 内部的实用性。

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.

如果比特币可以复制以太坊在这个领域的一些成功，那么不难想象比特币的市值随着时间的推移会增加数十亿美元。 DeFi 中使用的比特币越多，对其的需求就越高，随着可用供应量趋于稳定，比特币的价格就会上涨。

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

我们还处于这场革命的开始阶段，但轨迹是显而易见的：比特币融入 DeFi 生态系统是不可避免的，而像 Coinbase 的 cbBTC 这样的改进对于释放比特币的全部潜力至关重要。随着比特币的功能不断扩展，不再只是一种类似数字黄金的资产，其长期价值主张即将发展