Solana 是比特幣的可行替代品嗎？

12 月 4 日，比特幣 (CRYPTO: BTC) 的價格創下了 103,332 美元的歷史新高。最近一次減半是在四月份，每四年將挖礦獎勵減少一半；降息；以及當選總統川普的加密貨幣友善政策。

Bitcoin's (CRYPTO: BTC) price hit an all-time high of $103,332 on Dec. 4. Four main catalysts drove it to that point: the approvals of its first spot price ETFs in January; its latest halving in April, which cuts its rewards for mining in half every four years; interest rate cuts; and President-elect Trump's crypto-friendly policies.

12 月 4 日，比特幣 (CRYPTO: BTC) 的價格創下了 103,332 美元的歷史新高。最近一次減半是在四月份，每四年將挖礦獎勵減少一半；降息；以及當選總統川普的加密貨幣友善政策。

Bitcoin's price has pulled back as of this writing, but it remains up more than 120% over the past 12 months. With a market capitalization of $1.93 trillion, it's the world's top cryptocurrency and seventh most valuable asset.

截至撰寫本文時，比特幣的價格已有所回落，但在過去 12 個月內仍上漲了 120% 以上。它的市值為 1.93 兆美元，是世界上排名第一的加密貨幣，也是第七大最有價值的資產。

Bitcoin is still a solid long-term play on the cryptocurrency market, but it might have less upside potential than its smaller coins. Could one of those tokens be Solana (CRYPTO: SOL), which trades at about $190 with a market cap of $90 billion?

比特幣在加密貨幣市場上仍然是一個穩定的長期遊戲，但它的上行潛力可能小於其較小的硬幣。 Solana（加密貨幣代碼：SOL）就是其中之一，其交易價格約為 190 美元，市值為 900 億美元？

What sets Solana apart from Bitcoin?

Solana 與比特幣有何不同？

Solana's tokens are validated with the proof of stake (PoS) method, which doesn't require any tokens to be digitally mined. That approach is faster and more energy efficient than the proof of work (PoW) mining mechanism used by Bitcoin.

Solana 的代幣透過權益證明 (PoS) 方法進行驗證，該方法不需要對任何代幣進行數位挖掘。這種方法比比特幣使用的工作量證明 (PoW) 挖礦機制更快、更節能。

PoW blockchains are only used for mining more tokens. PoS blockchains support smart contracts, which can be used to develop decentralized apps (dApps), games, non-fungible tokens (NFTs) and other crypto assets. PoS tokens can also be "staked," or locked up, on the blockchain for a period of time to earn interest-like rewards.

PoW 區塊鏈僅用於挖掘更多代幣。 PoS 區塊鏈支援智慧合約，可用於開發去中心化應用程式 (dApp)、遊戲、不可替代代幣 (NFT) 和其他加密資產。 PoS 代幣還可以在區塊鏈上「質押」或鎖定一段時間，以獲得類似利息的獎勵。

Bitcoin's value is often defined by its scarcity. It has a maximum supply of 21 million tokens, and nearly 20 million of them have already been mined. The last Bitcoin is expected to be mined in 2140, which makes it somewhat comparable to gold or silver.

比特幣的價值通常由其稀缺性來定義。它的最大供應量為2100萬個代幣，其中近2000萬個已被開採。最後一枚比特幣預計將於 2140 年開採，這使得它在某種程度上可以與黃金或白銀相提並論。

Solana and other PoS tokens are usually valued by the speed of their blockchains and the growth of their developer ecosystems. Solana has a current supply of nearly 591 million tokens and no maximum supply, but it's set to reduce its annual inflation rate, currently at 4.83%, by 15% every "epoch year," which amounts to 450-630 days.

Solana 和其他 PoS 代幣的價值通常取決於其區塊鏈的速度和開發者生態系統的成長。 Solana 目前的代幣供應量接近 5.91 億個，並且沒有最大供應量，但它計劃將其年度通膨率（目前為 4.83%）降低到每個「紀元年」15%，即 450-630 天。

What sets Solana apart from other PoS tokens?

Solana 與其他 PoS 代幣有何不同？

Solana is often overshadowed by Ethereum (CRYPTO: ETH), the world's second largest cryptocurrency and top PoS blockchain. Ethereum has its own native token, Ether, but many other smaller PoS tokens, including Shiba Inu, Polygon and Render, run on its blockchain. It's easier to directly launch a new token on Ethereum's blockchain than to build one from scratch, but these tokens are ultimately constrained by Ethereum's speed limitations.

Solana 經常被世界第二大加密貨幣和頂級 PoS 區塊鏈以太坊（CRYPTO：ETH）所掩蓋。以太坊擁有自己的原生代幣 Ether，但許多其他較小的 PoS 代幣，包括 Shiba Inu、Polygon 和 Render，都在其區塊鏈上運行。在以太坊區塊鏈上直接推出新代幣比從頭開始建立新代幣更容易，但這些代幣最終受到以太坊速度限制的限制。

Solana is a newer PoS blockchain that accelerates its transactions with its own proof-of-history (PoH) mechanism. That upgrade already enables Solana's blockchain to process transactions roughly 46 times faster than Ethereum, but it's only achieved less than 2% of its theoretical max speed so far.

Solana 是一種較新的 PoS 區塊鏈，它透過自己的歷史證明 (PoH) 機制加速其交易。升級已經使 Solana 的區塊鏈處理交易的速度比以太坊快約 46 倍，但迄今為止僅達到了理論最大速度的不到 2%。

Solana's high-speed blockchain has attracted a lot of developers and partners. It's been used to develop meme coins such as BONK and WIF, and it powers decentralized exchanges including Jupiter and Orca. It supports stablecoin transactions for Visa, PayPal and Circle, and it's integrated its Solana Pay payment protocol into Shopify's platform.

Solana 的高速區塊鏈吸引了許多開發者和合作夥伴。它被用來開發 BONK 和 WIF 等模因幣，並為 Jupiter 和 Orca 等去中心化交易所提供支援。它支援 Visa、PayPal 和 Circle 的穩定幣交易，並將其 Solana Pay 支付協議整合到 Shopify 平台中。

Solana even launched its own Android smartphone for Web3 apps, the Saga Phone, in 2023. It's still a niche gadget, but it sports its own dApps Store as an alternative to Alphabet's Google Play Store.

Solana 甚至在 2023 年推出了自己的 Web3 應用 Android 智慧型手機 Saga Phone。

But over the past two years, Solana dealt with network congestion problems, spam transactions and security failures. One of its top investors was also the failed crypto exchange FTX, which hastily liquidated its tokens at a discount to pay off its creditors. All of those challenges, along with rising interest rates, drove its price below $10 in December 2022.

但在過去的兩年裡，Solana 面臨網路擁塞問題、垃圾郵件交易和安全故障等問題。其最大投資者之一也是失敗的加密貨幣交易所 FTX，該交易所匆忙以折扣價清算其代幣以償還債權人。所有這些挑戰，加上利率上升，導致其價格在 2022 年 12 月跌破 10 美元。

What's next for Solana?

索拉納的下一步是什麼？

Solana's price has already soared nearly 19 times from its all-time low, but it could head even higher as it resolves its network issues, it laps FTX's big sale, and interest rates gradually decline. Several big crypto firms, including Grayscale, Bitwise and VanEck, have also recently filed for the approvals of Solana spot price ETFs.

Solana 的價格已經從歷史最低點飆升了近 19 倍，但隨著其網路問題的解決、FTX 的大甩賣以及利率逐漸下降，它可能會進一步走高。 Grayscale、Bitwise 和 VanEck 等幾家大型加密貨幣公司最近也申請了 Solana 現貨價格 ETF 的批准。

Those ETF approvals could stabilize Solana's price while bringing in more retail and institutional investors. They would also probably mark its transition from a smaller altcoin to a "blue chip" cryptocurrency such as Bitcoin and Ether.

這些 ETF 的批准可以穩定 Solana 的價格，同時吸引更多散戶和機構投資者。他們也可能標誌著其從較小的山寨幣轉向比特幣和以太幣等「藍籌」加密貨幣的轉變。

But is Solana a viable alternative to Bitcoin?

但 Solana 是比特幣的可行替代品嗎？

Solana is an interesting alternative to Ether, but it's not a viable replacement for Bitcoin yet. Solana might be a good investment if

Solana 是以太坊的一個有趣的替代品，但它還不是比特幣的可行替代品。 Solana 可能是一項不錯的投資，如果