比特币Defi（BTCFI）：深入研究BTC流动性景观

比特币是最大，最知名的加密资产，但作为第一个区块链，它是为了安全性和简单性而不是智能合约而设计的。可编程性是事后的想法。

Bitcoin’s foray into decentralized finance (DeFi) has been a gradual yet persistent process, largely driven by the growing demand for BTC liquidity and the limitations of Bitcoin’s base layer, which lacks the native programmability to support smart contract applications.

比特币进入分散融资（DEFI）是一个逐渐但持久的过程，这在很大程度上是由于对BTC流动性的不断增长的需求以及比特币基础层的局限性所驱动的，该基础层缺乏支持智能合约应用的本地可编程性。

However, this challenge has spurred the development of various solutions that expand BTC’s functionality, enabling users to earn yield and access DeFi applications while preserving Bitcoin’s renowned security and decentralization. These solutions include Bitcoin Layer 2s, restaking protocols, and alternative BTCFi innovations.

但是，这一挑战激发了各种解决方案的开发，这些解决方案扩大了BTC的功能，使用户能够在保留比特币著名的安全性和分散性的同时赚取收益率和访问Defi应用程序。这些解决方案包括比特币第2层，重新制作协议和替代性BTCFI创新。

Bitcoin Layer 2s

比特币第2层

Bitcoin Layer 2 networks are built on top of the Bitcoin blockchain to address its scalability challenges, offering solutions that improve transaction speed, lower fees, and enhance functionality.

比特币第2层网络建立在比特币区块链的顶部，以应对其可扩展性挑战，提供提高交易速度，较低费用和增强功能的解决方案。

The main types of Bitcoin L2 solutions include:

比特币L2解决方案的主要类型包括：

State Channels: State channels move transactions off-chain, allowing users to bypass high transaction fees. In practice, two parties lock Bitcoin into a multisig wallet and send payments within the channel, which keeps a record of all transactions until it’s closed. Once they finish transacting, the parties sign and broadcast the final channel state to Bitcoin’s Layer 1 as a single transaction.

状态渠道：州渠道将交易移开链，使用户绕过高交易费用。在实践中，两个方将比特币锁定在多西格钱包中，并在渠道内发送付款，这可以保留所有交易的记录，直到关闭。一旦完成交易，各方便会签名并广播最终渠道状态，以单个交易为单一交易。

This setup significantly reduces costs by reporting only the opening and closing balances to the Bitcoin network, eliminating the need to pay mainnet fees for every transaction.

该设置仅通过向比特币网络报告开放余额和关闭余额来大大降低成本，从而无需为每笔交易支付主网费用。

Side Chains: A sidechain is an independent blockchain that runs in parallel to Bitcoin’s Layer 1 and is connected to Bitcoin through a two-way bridge. While sidechains often use Bitcoin as their native currency, they can also issue their own native tokens.

侧链：Sidechain是一个独立的区块链，与比特币的第1层并行运行，并通过双向桥连接到比特币。虽然Sidechains经常将比特币用作其原始货币，但他们也可以发行自己的本土令牌。

Unlike true Layer 2 solutions, Sidechains have separate consensus mechanisms rather than fully leveraging Bitcoin’s security or verification process. However, some sidechains periodically settle on the main chain or leverage Bitcoin’s security to varying degrees.

与真实的第2层解决方案不同，Sidechains具有单独的共识机制，而不是完全利用比特币的安全性或验证过程。但是，某些侧级会定期定居主链，或者在不同程度上利用比特币的安全性。

A defining feature of sidechains is their communication bridge with Bitcoin, which involves locking assets on the Bitcoin network and minting an equivalent amount on the sidechain.

Sidechains的一个定义特征是他们与比特币的通信桥，该桥梁涉及在比特币网络上锁定资产，并在Sidechain上造成等效量。

Rollups: Bitcoin Layer-2 rollups move transaction execution and data off Bitcoin’s Layer 1 to a separate rollup chain while leveraging Bitcoin for data availability and consensus. This solution allows transactions to be executed on the rollup chain, where data is compressed and periodically posted to Bitcoin’s Layer 1 for validation.

汇总：比特币第2层汇总将事务执行和数据从比特币的第1层移至单独的汇总链，同时利用比特币以获得数据可用性和共识。该解决方案允许在汇总链上执行交易，其中数据被压缩并定期发布到比特币的第1层以进行验证。

Rollups primarily function as an execution layer, maintaining a relationship with the Bitcoin network as the consensus layer.

滚动主要充当执行层，并保持与比特币网络的关系作为共识层。

There are two types of rollups:

有两种类型的汇总：

Optimistic Rollups: These rollups assume that all transactions are valid unless proven otherwise. They batch transactions off-chain and submit a single “rollup” transaction to Bitcoin’s Layer 1, which includes a Merkle root of all transactions and a fraud proof.

乐观的汇总：这些汇总假定所有交易都是有效的，除非另有证明。他们将交易汇总链，并向比特币的第1层提交单个“汇总”交易，其中包括所有交易的默克尔根和证明欺诈。

If any transaction is disputed, a sequencer can be penalized by slashing their bond, which serves as a deterrent against submitting invalid transactions.

如果有任何交易有争议，则可以通过削减其债券来惩罚序列，这是对提交无效交易的威慑作用。

ZK Rollups: These rollups use advanced cryptography to generate a succinct proof that attests to the validity of all transactions in a batch without revealing individual transaction details. This proof is then included in the rollup transaction on Bitcoin’s Layer 1.

ZK汇总：这些汇总使用高级密码学生成简洁的证明，该证明证明了批次中所有交易的有效性，而没有揭示单个交易细节。然后，该证明包含在比特币1层上的汇总交易中。

Compared to Optimistic Rollups, ZK Rollups offer higher privacy and lower gas costs but require more technical expertise for development.

与乐观的汇总相比，ZK汇总提供更高的隐私和较低的汽油成本，但需要更多的技术专业知识才能开发。

Here are some of the notable Bitcoin L2 networks:

这是一些著名的比特币L2网络：

Stacks: Stacks is a Bitcoin sidechain that operates on a Proof of Transfer (PoX) consensus mechanism. PoX combines Proof of Stake (PoS) and Proof of Burn to create a system that connects Bitcoin miners with Stack participants, known as “Stackers”.

堆栈：堆栈是一个以传输证明（POX）共识机制运行的比特币SiDechain。 Pox结合了股份证明（POS）和燃烧证明，以创建一个将比特币矿工与堆栈参与者（称为“堆栈者”）联系起来的系统。

Similar to PoS, Stackers lock their STX tokens to secure the Stacks network and Bitcoin miners offer BTC to incentivize Stackers for the right to validate blocks. A miner’s selection chances increase based on how much BTC they commit to Stackers.

与POS类似，Stackers锁定其STX令牌以确保堆栈网络，而比特币矿工则提供BTC，以激励堆叠者以获得验证块的权利。矿工的选择机会根据他们承诺的堆栈者的数量而增加。

When a BTC miner is selected, they validate the block and earn STX rewards in return and their BTC rewards are proportional to the amount of STX they lock.

当选择BTC矿工时，他们会验证该块并赚取STX奖励以回报，其BTC奖励与锁定的STX数量成正比。

Stacks also features a native DEX called XSwap, a lending protocol called Arkadiko Finance, and a liquid staking service called Lido for Stacks. These applications, combined with Stacks’ EVM compatibility, contribute to a growing DeFi ecosystem on the Bitcoin sidechain.

堆栈还具有一个名为XSWAP的本机DEX，一种名为Arkadiko Finance的贷款协议，以及一种名为Lido for Stacks的液体桩服务。这些应用结合了堆栈的EVM兼容性，促成了比特币Sidechain上不断增长的Defi生态系统。

Rootstock Infrastructure Framework (RIF): Rootstock (RSK) is an EVM-compatible Bitcoin sidechain. It connects to the Bitcoin network via a two-way Proof of Work Peg (PoWPeg) protocol. This mechanism allows users to lock BTC on the Bitcoin network and mint RBTC on Rootstock at a 1:1 ratio.

rootstock基础架构框架（RIF）：rootstock（RSK）是与EVM兼容的比特币Sidechain。它通过双向工作证明PEG（POWPEG）协议连接到比特币网络。这种机制允许用户以1：1的比例将BTC锁定在BITCOIN网络上，并在Rootstock上的Mint RBTC上锁定RBTC。

Rootstock’s consensus layer mirrors Bitcoin’s, sharing the same hash rate through merged mining, where Bitcoin miners can validate blocks on both chains simultaneously. Miners on Rootstock are incentivized with RBTC.

Rootstock的共识层反映了比特币的，通过合并的采矿共享相同的哈希速率，在该矿山中，比特币矿工可以同时验证这两个链条上的块。用RBTC激励砧木上的矿工。

The Rootstock Infrastructure Framework (RIF) operates on top of the RSK blockchain, providing a suite of decentralized services for dApp development.

Rootstock基础架构框架（RIF）在RSK区块链的顶部运行，为DAPP开发提供了一套分散的服务。

Key components of RIF include:

RIF的关键组成部分包括：

RIF

rif