比特币：DeFi 复兴背后的动力源泉

比特币有望在 2024 年彻底改变去中心化金融 (DeFi)，成为关键的安全提供商，并通过 Ordinals 和比特币扩容解决方案等进步解锁万亿美元的资产类别。这个“BTCFi”未来将涉及利用比特币无与伦比的安全性来实现与 EVM 兼容的智能合约，并利用比特币作为安全资产和交易媒介的双重角色。

Bitcoin: The Engine Driving the Next DeFi Revolution

比特币：推动下一次 DeFi 革命的引擎

The blockchain technology that underpins Bitcoin is rapidly evolving into a crucial security provider for decentralized apps (dApps) and an asset with newfound utility and interoperability. This resurgence of interest in Bitcoin has set the stage for a new era of DeFi innovation, characterized by the seamless integration of Bitcoin's unparalleled security and reliability into the vibrant DeFi ecosystem.

支持比特币的区块链技术正在迅速发展成为去中心化应用程序（dApp）的重要安全提供者以及具有新发现的实用性和互操作性的资产。人们对比特币兴趣的复苏为 DeFi 创新的新时代奠定了基础，其特点是将比特币无与伦比的安全性和可靠性无缝集成到充满活力的 DeFi 生态系统中。

The Origins of DeFi and the Role of Blockchain

DeFi 的起源和区块链的作用

The genesis of the decentralized finance (DeFi) revolution can be traced back to 2020, when the advent of smart contracts expanded the utility of blockchain technology beyond its initial role as a ledger for maintaining asset ownership. This technological breakthrough transformed the blockchain into a robust platform capable of supporting a vast array of interoperable financial ecosystems.

去中心化金融（DeFi）革命的起源可以追溯到 2020 年，当时智能合约的出现扩大了区块链技术的实用性，超出了其最初作为维护资产所有权的分类账的作用。这一技术突破将区块链转变为一个强大的平台，能够支持大量可互操作的金融生态系统。

On the Ethereum Virtual Machine (EVM), individuals worldwide were empowered to assume the role of their own banks, gaining access to a multitude of interoperable financial applications. This transformative evolution provided a tantalizing glimpse into a future of finance governed by immutable code, free from the capriciousness of human intermediaries.

在以太坊虚拟机（EVM）上，世界各地的个人都有权扮演自己银行的角色，获得对多种可互操作的金融应用程序的访问权限。这种变革性的演变让我们得以一睹由不可变代码管理的金融未来，不受人类中介机构的反复无常的影响。

As DeFi Summer unfolded, the technological advancements and enthusiasm fueling this nascent industry extended beyond financial applications, encompassing non-financial blockchain use cases such as non-fungible tokens (NFTs). Blockchains demonstrated their versatility by serving not only as hosts for financial systems but also as vibrant hubs for art, culture, and gaming.

随着 DeFi Summer 的展开，推动这一新兴行业的技术进步和热情超出了金融应用范围，涵盖了非金融区块链用例，例如不可替代代币（NFT）。区块链不仅作为金融系统的主机，而且还作为充满活力的艺术、文化和游戏中心，展示了其多功能性。

Driven by the relentless pursuit of innovation, blockchain technology seemingly expanded into every conceivable use case, often extending beyond its core utility and practicality at the height of the craze. This unbridled expansion ultimately sowed the seeds of fear during the crypto winter of 2022, although NFTs would ultimately emerge from this period of adversity with renewed vigor.

在对创新的不懈追求的推动下，区块链技术似乎扩展到了每一个可以想象的用例，在热潮最高峰时往往超出了其核心效用和实用性。这种肆无忌惮的扩张最终在 2022 年的加密货币冬天播下了恐惧的种子，尽管 NFT 最终会以新的活力从这段逆境中崛起。

The Revival of Bitcoin and the Advent of Ordinals

比特币的复兴和序数的出现

The year 2023 witnessed a resurgence of blockchain enthusiasm, thanks in no small part to the resurgence of NFTs, this time taking the form of Ordinals on the Bitcoin blockchain. Similar to the manner in which DeFi Summer unveiled new blockchain capabilities, Ordinals and BRC20 tokens showcased Bitcoin's untapped potential, igniting excitement about the future possibilities of blockchain technology.

2023 年见证了区块链热情的复苏，这在很大程度上要归功于 NFT 的复苏，这次以比特币区块链上的序数形式出现。与 DeFi Summer 推出新区块链功能的方式类似，Ordinals 和 BRC20 代币展示了比特币尚未开发的潜力，引发了人们对区块链技术未来可能性的兴奋。

The emergence of Ordinals and BRC-20 tokens raised a fundamental question: if Bitcoin could seamlessly accommodate NFTs and tokens, what other applications could potentially leverage its unparalleled security and popularity?

Ordinals 和 BRC-20 代币的出现提出了一个基本问题：如果比特币能够无缝容纳 NFT 和代币，那么还有哪些其他应用程序可以利用其无与伦比的安全性和受欢迎程度？

Introducing BTCFi: Unlocking the Power of Bitcoin

BTCFi 简介：释放比特币的力量

In retrospect, the NFT craze of 2021 can be interpreted as the waning of a hype cycle. While inherently valuable, the technology was largely a reverberation of DeFi's technological splash. In contrast, the current enthusiasm surrounding Ordinals feels akin to the dawn of a new cycle, representing a newfound demand that will undoubtedly have far-reaching implications. This is not a mere repetition of past utility; it is an intriguing development whose potential is only just beginning to be realized.

回想起来，2021 年的 NFT 热潮可以被解读为炒作周期的衰退。尽管该技术本质上很有价值，但它很大程度上是 DeFi 技术飞跃的回响。相比之下，当前围绕序号的热情感觉就像是新周期的黎明，代表着新发现的需求，这无疑将产生深远的影响。这不仅仅是对过去效用的重复；这是一个有趣的发展，其潜力才刚刚开始被认识。

Prior to the advent of Ordinals and BRC-20, Bitcoin was widely perceived as serving a solely passive role within the blockchain ecosystem, offering little beyond its fundamental asset functionality. However, this perception has shifted dramatically in recent times. Thanks to a series of significant advancements from a usability standpoint, Bitcoin is emerging as a critical security provider for DeFi and as an asset with newfound utility and interoperability.

在 Ordinals 和 BRC-20 出现之前，人们普遍认为比特币在区块链生态系统中仅扮演被动角色，除了其基本资产功能之外几乎没有提供任何功能。然而，这种看法近年来发生了巨大转变。由于从可用性角度来看，比特币取得了一系列重大进步，它正在成为 DeFi 的关键安全提供者，并成为一种具有新发现的实用性和互操作性的资产。

The future of Bitcoin DeFi lies in harnessing the Bitcoin network's unparalleled security for EVM-compatible smart contracts. Leading EVM-compatible Bitcoin scaling solutions are pioneering innovative methods to incentivize Bitcoin miners to simultaneously secure both the BTC asset and smart contracts, all while maintaining their independence. Ensuring that miners, and consequently Bitcoin itself, derive tangible value is essential for expanding the Bitcoin network beyond its current role as custodian of the BTC asset.

比特币 DeFi 的未来在于利用比特币网络无与伦比的安全性来实现 EVM 兼容的智能合约。领先的 EVM 兼容比特币扩容解决方案正在开创创新方法，以激励比特币矿工同时保护 BTC 资产和智能合约，同时保持其独立性。确保矿工以及比特币本身获得有形价值对于扩展比特币网络超越其当前作为比特币资产托管人的角色至关重要。

Unlocking the Potential of the BTC Asset

释放比特币资产的潜力

Historically, BTC has served primarily as a passive store of value, playing no active role in DeFi security or commerce. However, much like ETH's dual function as a security provider for Ethereum and a currency, Bitcoin possesses the potential to evolve into a versatile asset extending beyond the confines of the base Bitcoin chain. The introduction of Bitcoin staking in 2024 is poised to transform BTC from a passive asset into a rewards-generating asset, marking a significant shift in its utility.

从历史上看，BTC 主要充当被动的价值储存手段，在 DeFi 安全或商业中没有发挥积极作用。然而，就像 ETH 作为以太坊安全提供者和货币的双重功能一样，比特币有潜力演变成一种超越比特币基础链范围的多功能资产。 2024 年比特币质押的推出有望将 BTC 从被动资产转变为产生回报的资产，标志着其效用的重大转变。

As DeFi ecosystems become increasingly aligned with both Bitcoin miners and Bitcoin holders/stakers, these ecosystems will emerge as the preeminent and most secure platforms for "BTCFi." With advancements such as HTLC atomic swaps and innovative bridging solutions overcoming technical hurdles, BTC is poised to flood into DeFi protocols. This influx will unlock extraordinary utility for the world's premier and most trusted blockchain-based asset.

随着 DeFi 生态系统越来越与比特币矿工和比特币持有者/利益相关者保持一致，这些生态系统将成为“BTCFi”卓越且最安全的平台。随着 HTLC 原子交换等进步和克服技术障碍的创新桥接解决方案，BTC 已准备好涌入 DeFi 协议。这种涌入将为世界上最重要、最值得信赖的基于区块链的资产释放非凡的效用。

Building Bitcoin DeFi Together

共同构建比特币 DeFi

For the first time in years, Bitcoin is leading the charge in blockchain innovation. Now that the Bitcoin base layer is widely acknowledged as permanently secure, it is time to embark on the development of solutions that will elevate it to new heights. Given that the BTC asset is the definitive self-sovereign asset, it is only fitting that the Bitcoin network should become the primary protector of the future of self-sovereign decentralized finance.

多年来，比特币首次引领区块链创新。既然比特币基础层被广泛认为是永久安全的，那么现在是时候开始开发将其提升到新高度的解决方案了。鉴于比特币资产是最终的自主主权资产，比特币网络成为自主去中心化金融未来的主要保护者是再合适不过的了。

The Bitcoin community is acutely aware of the vast potential that lies dormant within its network and its currency. It is time to seize this opportunity and unlock this potential, fostering innovations that empower Bitcoin, DeFi, and the global pursuit of financial independence.

比特币社区敏锐地意识到其网络和货币蕴藏着巨大的潜力。现在是抓住这个机会并释放这种潜力的时候了，培育创新，增强比特币、DeFi 和全球对金融独立的追求。