Wrapped Bitcoin (WBTC)：彌合比特幣和以太坊之間差距的革命性創新

Wrapped Bitcoin (WBTC) 已成為加密貨幣世界中的一項革命性創新，使比特幣 (BTC) 能夠與以太坊區塊鏈無縫互動。

Bitcoin (BTC), the world's first and most valuable cryptocurrency, has seen its use cases expand significantly over the years. Initially conceived as a digital gold or a store of value, BTC's role has now extended to being a medium of exchange and a unit of account, thanks to the development of Layer 2 solutions and the Lightning Network.

比特幣（BTC）是世界上第一個也是最有價值的加密貨幣，多年來其用例顯著擴大。比特幣最初被認為是數位黃金或價值儲存手段，但由於第 2 層解決方案和閃電網路的發展，比特幣的角色現已擴展為交換媒介和記帳單位。

However, despite these advancements, Bitcoin still lacks the capability to support smart contracts on its blockchain. This limitation restricts BTC holders from directly participating in decentralized finance (DeFi) applications, which are predominantly built on Ethereum and other smart contract-enabled blockchains.

然而，儘管取得了這些進步，比特幣仍然缺乏支持其區塊鏈上的智慧合約的能力。這項限制限制了 BTC 持有者直接參與去中心化金融（DeFi）應用程序，這些應用程式主要建構在以太坊和其他支援智慧合約的區塊鏈上。

To address this challenge and enable Bitcoin to interact with the vast DeFi ecosystem, a solution was devised—Wrapped Bitcoin (WBTC).

為了應對這項挑戰並使比特幣能夠與龐大的 DeFi 生態系統進行交互，我們設計了一個解決方案—Wrapped Bitcoin (WBTC)。

What Is Wrapped Bitcoin (WBTC)?

什麼是包裝比特幣（WBTC）？

Wrapped Bitcoin is an ERC-20 token that represents Bitcoin on the Ethereum blockchain. Each WBTC token is backed 1:1 by Bitcoin, ensuring that its value mirrors BTC. This relationship is maintained through a transparent custodial system where Bitcoin is securely held in reserve by trusted entities such as custodians and merchants. For every WBTC in circulation, an equivalent amount of Bitcoin is locked in custody, ensuring complete transparency and reliability.

Wrapped Bitcoin 是 ERC-20 代幣，代表以太坊區塊鏈上的比特幣。每個 WBTC 代幣均由比特幣 1:1 支持，確保其價值反映 BTC。這種關係是透過透明的託管系統來維持的，其中比特幣由託管人和商人等受信任的實體安全地保存。每流通一個 WBTC，就會鎖定等量的比特幣，從而確保完全的透明度和可靠性。

Launched in January 2019 as a collaborative project by BitGo, Kyber Network, and Ren, WBTC aims to bring Bitcoin's liquidity to the Ethereum network. This allows Bitcoin holders to participate in DeFi applications, which are traditionally inaccessible to BTC due to its distinct blockchain.

WBTC 作為 BitGo、Kyber Network 和 Ren 於 2019 年 1 月推出的合作項目，旨在將比特幣的流動性引入以太坊網路。這使得比特幣持有者能夠參與 DeFi 應用，而由於其獨特的區塊鏈，傳統上 BTC 無法存取這些應用。

Why Is WBTC Important?

為什麼 WBTC 很重要？

Bitcoin, despite its widespread adoption and status as a “digital gold,” has limited utility beyond being a store of value or a medium of exchange. Its blockchain lacks smart contract capabilities, which are essential for complex financial transactions like lending, borrowing, and yield farming. Ethereum, on the other hand, is the leading platform for DeFi, enabling a wide range of decentralized applications.

儘管比特幣被廣泛採用並享有「數位黃金」的地位，但它除了作為價值儲存或交換媒介之外，其實用性有限。它的區塊鏈缺乏智慧合約功能，而這對於貸款、借款和流動性挖礦等複雜的金融交易至關重要。另一方面，以太坊是 DeFi 的領先平台，支援廣泛的去中心化應用。

WBTC allows Bitcoin holders to engage in these DeFi opportunities without having to sell their BTC. By converting Bitcoin to Wrapped Bitcoin, users can lend, borrow, or trade their assets in Ethereum-based DeFi protocols like Uniswap, Aave, and Compound. This integration enhances liquidity across the ecosystem, benefitting both Bitcoin and Ethereum communities.

WBTC 讓比特幣持有者參與這些 DeFi 機會，而無需出售其 BTC。透過將比特幣轉換為 Wrapped Bitcoin，用戶可以在基於以太坊的 DeFi 協議（如 Uniswap、Aave 和 Compound）中藉出、借入或交易其資產。這種整合增強了整個生態系統的流動性，使比特幣和以太坊社群受益。

How Does WBTC Work?

WBTC 如何運作？

The process of creating Wrapped Bitcoin involves a series of steps. When a user wants to wrap Bitcoin, they send BTC to a merchant who initiates the minting process. The Bitcoin is sent to a custodian, such as BitGo, which securely holds it in reserve. Once verified, an equivalent amount of WBTC is minted and sent to the user. Conversely, when users want to redeem WBTC for Bitcoin, the process is reversed.

創建 Wrapped Bitcoin 的過程涉及一系列步驟。當用戶想要打包比特幣時，他們會將比特幣發送給啟動鑄造過程的商家。比特幣被發送給 BitGo 等託管機構，由後者安全地保留。一旦驗證通過，就會鑄造等量的 WBTC 並發送給使用者。相反，當用戶想要將 WBTC 兌換為比特幣時，過程則相反。

This system ensures trust and accountability, as all transactions and reserves are verifiable on the blockchain. Regular audits and proof-of-reserve practices bolster WBTC’s transparency.

該系統確保了信任和責任，因為所有交易和儲備都可以在區塊鏈上進行驗證。定期審計和儲備證明實踐增強了 WBTC 的透明度。

The Future of Wrapped Bitcoin (WBTC)

包裝比特幣（WBTC）的未來

Wrapped Bitcoin has grown significantly since its launch, with billions of dollars in WBTC now circulating. Its adoption highlights the increasing demand for cross-chain interoperability in the blockchain industry. As the DeFi sector continues to expand, WBTC is expected to play an even more critical role in unlocking Bitcoin's liquidity and integrating it further into the decentralized financial ecosystem.

自推出以來，Wrapped Bitcoin 已大幅成長，目前流通的 WBTC 價值達數十億美元。它的採用凸顯了區塊鏈產業對跨鏈互通性日益增長的需求。隨著 DeFi 領域的不斷擴張，WBTC 預計將在釋放比特幣的流動性並將其進一步融入去中心化金融生態系統方面發揮更關鍵的作用。

By enabling Bitcoin to participate in Ethereum's DeFi revolution, Wrapped Bitcoin represents a significant step towards a more connected and efficient cryptocurrency market, paving the way for greater innovation and collaboration across blockchain networks.

透過讓比特幣參與以太坊的 DeFi 革命，Wrapped Bitcoin 代表著邁向更互聯和高效的加密貨幣市場的重要一步，為跨區塊鏈網路的更大創新和協作鋪平了道路。