Wrapped Bitcoin (WBTC)：弥合比特币和以太坊之间差距的革命性创新

Wrapped Bitcoin (WBTC) 已成为加密货币世界中的一项革命性创新，使比特币 (BTC) 能够与以太坊区块链无缝交互。

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.

比特币（BTC）是世界上第一个也是最有价值的加密货币，多年来其用例显着扩大。比特币最初被认为是数字黄金或价值储存手段，但由于第 2 层解决方案和闪电网络的发展，比特币的作用现已扩展为交换媒介和记账单位。

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，尽管取得了这些进步，比特币仍然缺乏支持其区块链上的智能合约的能力。这一限制限制了 BTC 持有者直接参与去中心化金融（DeFi）应用程序，这些应用程序主要构建在以太坊和其他支持智能合约的区块链上。

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

为了应对这一挑战并使比特币能够与庞大的 DeFi 生态系统进行交互，我们设计了一种解决方案——Wrapped Bitcoin (WBTC)。

What Is Wrapped Bitcoin (WBTC)?

什么是包装比特币（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 是一种 ERC-20 代币，代表以太坊区块链上的比特币。每个 WBTC 代币均由比特币 1:1 支持，确保其价值反映 BTC。这种关系是通过透明的托管系统来维持的，其中比特币由托管人和商人等受信任的实体安全地保存。每流通一个 WBTC，就会锁定等量的比特币，从而确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 作为 BitGo、Kyber Network 和 Ren 于 2019 年 1 月推出的合作项目，旨在将比特币的流动性引入以太坊网络。这使得比特币持有者能够参与 DeFi 应用，而由于其独特的区块链，传统上 BTC 无法访问这些应用。

Why Is WBTC Important?

为什么 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.

尽管比特币被广泛采用并享有“数字黄金”的地位，但它除了作为价值储存或交换媒介之外，其实用性有限。它的区块链缺乏智能合约功能，而这对于贷款、借款和流动性挖矿等复杂的金融交易至关重要。另一方面，以太坊是 DeFi 的领先平台，支持广泛的去中心化应用。

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 允许比特币持有者参与这些 DeFi 机会，而无需出售其 BTC。通过将比特币转换为 Wrapped Bitcoin，用户可以在基于以太坊的 DeFi 协议（如 Uniswap、Aave 和 Compound）中借出、借入或交易其资产。这种整合增强了整个生态系统的流动性，使比特币和以太坊社区受益。

How Does WBTC Work?

WBTC 如何运作？

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.

创建 Wrapped Bitcoin 的过程涉及一系列步骤。当用户想要打包比特币时，他们会将比特币发送给启动铸造过程的商家。比特币被发送给 BitGo 等托管机构，由后者安全地保留。一旦验证通过，就会铸造等量的 WBTC 并发送给用户。相反，当用户想要将 WBTC 兑换为比特币时，过程则相反。

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.

该系统确保了信任和责任，因为所有交易和储备都可以在区块链上进行验证。定期审计和储备证明实践增强了 WBTC 的透明度。

The Future of Wrapped Bitcoin (WBTC)

包装比特币（WBTC）的未来

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.

自推出以来，Wrapped Bitcoin 已大幅增长，目前流通的 WBTC 价值达数十亿美元。它的采用凸显了区块链行业对跨链互操作性日益增长的需求。随着 DeFi 领域的不断扩张，WBTC 预计将在释放比特币的流动性并将其进一步融入去中心化金融生态系统方面发挥更加关键的作用。

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.

通过使比特币能够参与以太坊的 DeFi 革命，Wrapped Bitcoin 代表着迈向更加互联和高效的加密货币市场的重要一步，为跨区块链网络的更大创新和协作铺平了道路。