以太坊是比特币的真实愿景

比特币是作为对机构失败的回应，一个从腐败的集中财务中分散的逃生舱口和自我主权的北极星的回应。

Bitcoin was born as a response to institutional failure, a decentralized escape hatch from corruptible centralized finance and a north star of self sovereignty. Bitcoin’s true vision was a peer-to-peer electronic cash system. That phrase is right there in the Bitcoin white paper’s title from Satoshi himself.

比特币是作为对机构失败的回应，一个从腐败的集中财务中分散的逃生舱口和自我主权的北极星的回应。比特币的真实视野是对等电子现金系统。这句话就在Satoshi本人的比特币白皮书标题中就在那里。

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Today, Bitcoin is many things:

今天，比特币是很多事情：

But Bitcoin is not electronic cash. It is too volatile for daily use, too slow to scale and too rigid to adapt as a cash equivalent. Somewhere along the way, Bitcoin gave up on being the system, and instead became the signal.

但是比特币不是电子现金。它太挥发了，无法进行日常使用，缩放速度太慢，太僵硬而无法适应现金等效。一路上的某个地方，比特币放弃了成为系统，而是成为信号。

Ethereum, by contrast, might be the one actually delivering on Bitcoin’s original promise.

相比之下，以太坊可能是实际兑现比特币原始承诺的人。

Thanks to Ethereum’s programmability, we now have stablecoins, arguably the most successful crypto use case to date. Dollar-backed tokens like USDC and USDT settle trillions in peer-to-peer value across borders 24/7 with no bank intermediaries. Stablecoins are Bitcoin’s white paper come to life, minus the volatility.

多亏以太坊的可编程性，我们现在拥有稳定的稳定性，可以说是迄今为止最成功的加密用例。美元支持的代币，例如USDC和USDT，在没有银行中介机构的24/7范围内，跨越边境的对等价值。稳定的是比特币的白皮书栩栩如生，减去波动。

Ethereum’s scale can be shown through on-chain data.

以太坊的量表可以通过链上数据显示。

Stablecoins on Ethereum and its Layer 2s now rival the transaction volume of major credit and debit card networks. In markets where local currencies are unstable or financial access is limited, stablecoins have become lifelines. They are used for remittances, payroll, savings and even commerce.

现在，以太坊及其第2层的稳定币与主要信用卡和借记卡网络的交易量相媲美。在当地货币不稳定或财务通道有限的市场中，稳定币已成为生命线。它们用于汇款，工资，储蓄甚至商业。

The irony is that Bitcoin wanted to replace fiat, but it’s Ethereum that has quietly made fiat better. It gave the dollar superpowers like composability, programmability and global mobility. And it’s doing it without centralized permission.

具有讽刺意味的是，比特币想取代菲亚特，但以太坊悄悄地使菲亚特变得更好。它为美元超级大国提供了合成性，可编程性和全球移动性。它在没有集中许可的情况下进行。

Here’s the kicker: Ethereum’s evolution doesn’t stop at payments. Once you understand the technology, you realize ETH does everything BTC can do, and so much more.

这是踢球者：以太坊的进化并没有停止付款。一旦您了解了这项技术，您就会意识到ETH可以做到BTC可以做的一切，还有更多。

Where Bitcoin remains focused on scarcity, Ethereum is building infrastructure. The rise of real-world asset tokenization (RWAs) is a perfect example. Treasury bills, private credit and fund shares are now being issued on Ethereum, bringing regulated assets into composable finance. BlackRock (BLK), Franklin Templeton and other legacy giants aren’t launching on Bitcoin; they’re building on Ethereum.

在比特币仍然专注于稀缺性的地方，以太坊正在建设基础设施。实际资产令牌化（RWAS）的兴起就是一个完美的例子。现在正在以太坊发行国库账单，私人信贷和基金股票，将监管资产纳入可组成的财务。贝莱德（BLK），富兰克林·邓普顿（Franklin Templeton）和其他传统巨头没有在比特币上发射；他们是在以太坊建立的。

Additionally, unlike Bitcoin’s inert capital, Ethereum enables native yield through staking, allowing participants to secure the network while earning predictable returns — an increasingly attractive feature for institutions seeking on-chain cash flow.

此外，与比特币的惰性资本不同，以太坊可以通过堆放来实现本地产量，从而使参与者能够在获得可预测的回报的同时获得网络，这是寻求链上现金流的机构越来越有吸引力的功能。

This isn’t to say Bitcoin has failed. It serves a different role: a monetary anchor in the digital world. But its utility is limited. Ethereum, on the other hand, is becoming the global settlement layer for on-chain assets.

这并不是说比特币失败了。它发挥了不同的作用：数字世界中的货币锚。但是它的效用是有限的。另一方面，以太坊正在成为链资产的全球结算层。

While Bitcoin adoption has captured mainstream headlines, Ethereum’s fundamentals quietly continue to grow as the platform gains institutional market share. Some metrics to back up Ethereum’s growing influence and usage include:

尽管采用比特币已经占据了主流头条，但随着平台获得机构市场份额的增长，以太坊的基本面悄然增长。一些指标支持以太坊不断增长的影响力和用法包括：

Ethereum isn’t replacing Bitcoin. But it’s fulfilling what Bitcoin started: a decentralized, global financial system with open access and programmable trust — in short, digital cash. Bitcoin sparked the movement. But Ethereum is scaling it.

以太坊不会取代比特币。但这正在实现比特币的开始：一个分散的全球金融系统，具有开放式访问和可编程信任 - 简短，数字现金。比特币激发了运动。但是以太坊正在扩展它。