{"id":3043,"date":"2025-11-11T14:55:00","date_gmt":"2025-11-11T06:55:00","guid":{"rendered":"https:\/\/www.benfen.org\/blog\/?p=3043"},"modified":"2025-11-27T11:31:14","modified_gmt":"2025-11-27T03:31:14","slug":"zcash-surges-10x-in-a-month-is-privacy-sector-the-next-big-narrative","status":"publish","type":"post","link":"https:\/\/www.benfen.org\/blog\/index.php\/zh\/zcash-surges-10x-in-a-month-is-privacy-sector-the-next-big-narrative\/","title":{"rendered":"Zcash \u77ed\u671f\u5185\u66b4\u6da810\u500d\uff0c\u9690\u79c1\u8d5b\u9053\u6210\u4e0b\u4e00\u4e2a\u53d9\u4e8b\uff1f"},"content":{"rendered":"\n<p><strong>\u5bfc\u8bfb\uff1a<\/strong> \u5f53\u5e02\u573a\u7684\u76ee\u5149\u805a\u7126\u4e8e\u4e00\u4e2a\u6c89\u5bc2\u5df2\u4e45\u7684\u5e01\u79cd\uff0c\u5e76\u89c1\u8bc1\u5b83\u81ea 9 \u6708\u5e95\u81f3\u4eca\u5b9e\u73b0\u8d85 10 \u500d\u7684\u60ca\u4eba\u6da8\u5e45\u65f6\uff0c\u8fd9\u80cc\u540e\u7edd\u975e\u5076\u7136\u7684\u6295\u673a\u3002Zcash \u7684\u72c2\u98d9\u7a81\u8fdb\uff0c\u4e0d\u4ec5\u5439\u54cd\u4e86\u201c\u91d1\u878d\u9690\u79c1\u6743\u201d\u53d9\u4e8b\u7684\u96c6\u7ed3\u53f7\uff0c\u66f4\u9884\u793a\u7740\u4e00\u4e2a\u5168\u65b0\u8d5b\u9053\u7684\u7206\u53d1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u4e00\u3001Zcash \u66b4\u6da8\u7684\u771f\u5b9e\u8868\u73b0\uff1a\u72c2\u70ed\u7684\u5e01\u4ef7\u4e0e\u9ad8\u6da8\u7684\u94fe\u4e0a\u91c7\u7528\u7387 <\/h2>\n\n\n\n<p>\u8fd9\u573a\u7531 Zcash \u5f15\u9886\u7684\u72c2\u6b22\uff0c\u4e0d\u4ec5\u4ec5\u662f\u4e00\u573a\u4ef7\u683c\u6e38\u620f\uff0c\u66f4\u662f\u771f\u5b9e\u7528\u6237\u9700\u6c42\u548c\u94fe\u4e0a\u6d3b\u52a8\u589e\u957f\u7684\u6709\u529b\u8bc1\u660e\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>\u4ef7\u683c\u8868\u73b0\uff1a\u91cd\u5851\u5e02\u573a\u4fe1\u5fc3<\/li>\n<\/ol>\n\n\n\n<p>Zcash (ZEC) \u5728\u6c89\u5bc2\u591a\u5e74\u540e\uff0c\u4e8e\u8fc7\u53bb\u4e24\u4e2a\u6708\u5185\u4e0a\u6f14\u4e86\u4e00\u573a\u60ca\u5fc3\u52a8\u9b44\u7684\u201c\u53f2\u8bd7\u7ea7\u89c9\u9192\u201d<strong>\u3002\u5e01\u4ef7\u4ece\u957f\u671f\u4f4e\u8ff7\u7684\u4f4e\u8c37\u533a\u95f4\uff0c\u5728\u77ed\u77ed<\/strong><strong>\u4e24\u4e2a\u6708<\/strong><strong>\u5185\uff0c\u4ee5<\/strong>\u5782\u76f4\u62c9\u5347<strong>\u7684\u59ff\u6001\u5b9e\u73b0<\/strong>\u8d85\u8fc710\u500d\u7684\u60ca\u4eba\u66b4\u6da8\uff0c\u5728\u672c\u6587\u53d1\u5e03\u65f6\u7684\u4ef7\u683c\u5df2\u8fbe\u5230$560\u3002<\/p>\n\n\n\n<p>\u8fd9\u4e00\u8f6e\u72c2\u70ed\u6700\u6838\u5fc3\u7684\u4fe1\u53f7\u5728\u4e8e\uff1aZEC \u6210\u529f\u4e14\u679c\u65ad\u5730\u7a81\u7834\u4e86<strong>\u957f\u8fbe\u56db\u5e74\u4e4b\u4e45<\/strong>\u7684\u718a\u5e02\u4e0b\u964d\u963b\u529b\u7ebf\uff08\u53ef\u53c2\u8003\u56fe\u8868\u4e2d\u7684\u5173\u952e\u8f6c\u6298\u70b9\uff09\u3002\u8fd9\u4e0d\u4ec5\u662f\u6280\u672f\u9762\u4e0a\u7684\u5386\u53f2\u6027\u7a81\u7834\uff0c\u66f4\u5411\u5e02\u573a\u53d1\u51fa\u4e86\u4e00\u4e2a\u660e\u786e\u4fe1\u53f7\u2014\u2014\u6c89\u7761\u7684\u9690\u79c1\u8d5b\u9053\u5de8\u4eba\u5df2\u7ecf\u5f7b\u5e95\u82cf\u9192\uff0c\u5373\u65f6\u5f15\u7206\u4e86\u5927\u89c4\u6a21\u7684\u6295\u673a\u6027\u4e70\u76d8\u548c\u7b97\u6cd5\u4ea4\u6613\uff0c\u5c06 ZEC \u63a8\u5411\u4e86\u65b0\u7684\u5173\u6ce8\u7126\u70b9\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"660\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months-1024x660.png\" alt=\"CoinGecko: ZEC price chart, showing an astonishing curve that has soared over 10x from its low point within 2 months.\" class=\"wp-image-2906\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months-1024x660.png 1024w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months-300x193.png 300w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months-768x495.png 768w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months-1536x989.png 1536w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/CoinGecko-ZEC-price-chart-showing-an-astonishing-curve-that-has-soared-over-10x-from-its-low-point-within-2-months.png 1638w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>Coingecko\uff1aZEC \u4ef7\u683c\u8d70\u52bf\u56fe\uff0c\u5c55\u793a\u4e24\u4e2a\u6708\u5185\u4ece\u4f4e\u4f4d\u98d9\u5347\u8d85\u8fc710\u500d\u7684\u60ca\u4eba\u66f2\u7ebf<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>\u94fe\u4e0a\u6570\u636e\u7684\u9ec4\u91d1\u4fe1\u53f7\uff1a\u9690\u79c1\u91c7\u7528\u7387\u98d9\u5347<\/li>\n<\/ol>\n\n\n\n<p>\u4e0e\u4ef7\u683c\u72c2\u98d9\u540c\u6837\u91cd\u8981\u7684\uff0c\u662f Zcash \u94fe\u4e0a\u6570\u636e\u7684\u79ef\u6781\u53d8\u5316\u3002\u8fd9\u4e9b\u6570\u636e\u662f\u201c\u9690\u79c1\u53d9\u4e8b\u56de\u5f52\u201d\u6700\u771f\u5b9e\u7684\u8bc1\u660e\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>\u6838\u5fc3\u6307\u6807<\/td><td>\u6570\u636e\u8868\u73b0<\/td><td>\u5e02\u573a\u610f\u4e49<\/td><\/tr><tr><td>\u9690\u85cf\u6c60\u603b\u91cf (Total Shielded Supply)<\/td><td>\u6301\u7eed\u589e\u957f<\/td><td>\u8fd9\u662f\u6838\u5fc3\u6307\u6807\u3002\u9501\u5b9a\u5728\u9690\u85cf\u5730\u5740\u4e2d\u7684 ZEC \u6570\u91cf\u6fc0\u589e\uff0c\u8868\u660e\u5de8\u9cb8\u548c\u5b9e\u9645\u7528\u6237\u5bf9\u9690\u79c1\u529f\u80fd\u7684\u9700\u6c42\u548c\u4fe1\u4efb\u6b63\u5728\u6025\u5267\u589e\u52a0\u3002<\/td><\/tr><tr><td>\u9690\u85cf\u5360\u6bd4 (Shielded %)<\/td><td>\u767e\u5206\u6bd4\u6301\u7eed\u6500\u5347<\/td><td>\u8861\u91cf\u9690\u79c1\u7279\u6027\u5728\u6574\u4e2a Zcash \u751f\u6001\u7cfb\u7edf\u4e2d\u7684\u666e\u53ca\u7a0b\u5ea6\u548c\u91cd\u8981\u6027\uff0c\u4ee3\u8868\u7528\u6237\u884c\u4e3a\u6b63\u671d\u5411\u66f4\u9ad8\u7684\u9690\u79c1\u4fdd\u62a4\u8fc1\u79fb\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Data-1024x682.png\" alt=\"zechub-Zcash Hidden Pool Data\" class=\"wp-image-2907\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Data-1024x682.png 1024w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Data-300x200.png 300w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Data-768x512.png 768w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Data.png 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>zechub\uff1aZcash\u9690\u85cf\u6c60\u6570\u636e<\/em><\/figcaption><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Transaction-Data-1024x682.png\" alt=\"zechub-Zcash Hidden Pool Transaction Data\" class=\"wp-image-2908\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Transaction-Data-1024x682.png 1024w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Transaction-Data-300x200.png 300w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Transaction-Data-768x512.png 768w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/zechub-Zcash-Hidden-Pool-Transaction-Data.png 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\"><em>zechub\uff1aZcash\u9690\u85cf\u6c60\u4ea4\u6613\u6570\u636e<\/em><\/figcaption><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u4e8c\u3001\u66b4\u6da8\u7684\u6838\u5fc3\u539f\u56e0\uff1a\u5b8f\u89c2\u8d8b\u52bf\u3001\u6280\u672f\u89c9\u9192\u4e0e\u540d\u4eba\u70b9\u706b <\/h2>\n\n\n\n<p>Zcash \u7684\u8fd9\u573a\u66b4\u6da8\uff0c\u662f\u57fa\u672c\u9762\u3001\u5b8f\u89c2\u8d8b\u52bf\u3001\u6280\u672f\u4fe1\u53f7\u548c\u9876\u7ea7 KOL \u5f71\u54cd\u529b\u5171\u540c\u4f5c\u7528\u7684\u7ed3\u679c\u3002\u8fd9\u4e9b\u56e0\u7d20\u5171\u540c\u7b51\u8d77\u4e86\u8fd9\u573a\u5e02\u573a\u72c2\u6b22\uff1a<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>\u5b8f\u89c2\u80cc\u666f\u4e0e\u7a00\u7f3a\u6027\u9884\u671f\uff1a\u65f6\u4ee3\u7684\u547c\u5524\u4e0e\u51cf\u534a\u4e34\u8fd1<\/li>\n<\/ol>\n\n\n\n<p><strong>A. \u76d1\u7ba1\u538b\u529b\u4e0b\u7684\u521a\u6027\u9700\u6c42\u7206\u53d1\uff1a<\/strong><\/p>\n\n\n\n<p>\u968f\u7740\u5168\u7403\u76d1\u7ba1\u673a\u6784\u5bf9\u52a0\u5bc6\u8d27\u5e01\u7684<strong>\u76d1\u63a7\uff08\u5982 KYC \u548c\u94fe\u4e0a\u8ffd\u8e2a\u8981\u6c42\uff09\u65e5\u76ca\u4e25\u683c<\/strong>\uff0c\u6570\u5b57\u91d1\u878d\u4e16\u754c\u7684\u201c\u88f8\u5954\u7126\u8651\u201d<strong>\u88ab\u65e0\u9650\u653e\u5927\u3002\u8fd9\u79cd\u5bf9<\/strong>\u5bf9\u6297\u5ba1\u67e5\u548c\u4fdd\u62a4\u4e2a\u4eba\u91d1\u878d\u4e3b\u6743<strong>\u7684\u8bc9\u6c42\uff0c\u91cd\u65b0\u5f15\u53d1\u4e86\u5e02\u573a\u5bf9\u9690\u79c1\u4fdd\u62a4\u8d44\u4ea7\u7684<\/strong>\u5f3a\u70c8\u3001\u521a\u6027\u9700\u6c42\u3002Zcash \u4f5c\u4e3a\u91c7\u7528\u96f6\u77e5\u8bc6\u8bc1\u660e\u6280\u672f\uff08zk-SNARKs\uff09\u7684\u9886\u8dd1\u8005\uff0c\u6210\u4e3a\u8d44\u91d1\u6d41\u5165\u7684\u7126\u70b9\u3002<\/p>\n\n\n\n<p><strong>B. \u51cf\u534a\u7a00\u7f3a\u6027\u9884\u671f\uff1a\u629b\u538b\u7684\u51cf\u5c11<\/strong><\/p>\n\n\n\n<p>Zcash \u9884\u8ba1\u5728 2025 \u5e74 11 \u6708\u8fce\u6765\u533a\u5757\u5956\u52b1\u51cf\u534a\u3002\u51cf\u534a\u4e0d\u4ec5\u4f1a\u51cf\u5c11\u77ff\u5de5\u7684\u629b\u552e\u538b\u529b\uff0c\u66f4\u5728\u5e02\u573a\u4e2d\u521b\u9020\u4e86\u5f3a\u70c8\u7684<strong>\u7a00\u7f3a\u6027\u9884\u671f<\/strong>\uff0c\u5f15\u53d1\u4e86\u7c7b\u4f3c\u4e8e\u6bd4\u7279\u5e01\u51cf\u534a\u524d\u7684\u884c\u4e3a\u3002\u4ea4\u6613\u5458\u4eec\u610f\u8bc6\u5230\uff0c\u8fd9\u662f\u4e00\u4e2a\u6d41\u52a8\u6027\u5145\u8db3\u3001\u53d9\u4e8b\u6e05\u6670\u7684\u5e03\u5c40\u826f\u673a\u3002<\/p>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>\u6280\u672f\u4e0e\u8d44\u672c\u7684\u5171\u632f\uff1a\u957f\u671f\u79ef\u7d2f\u4e0e Grayscale \u5e03\u5c40<\/li>\n<\/ol>\n\n\n\n<p><strong>A. \u6280\u672f\u5e95\u5c42\u7684\u89c9\u9192\u4e0e\u7a81\u7834\uff1a<\/strong><\/p>\n\n\n\n<p>ZEC \u4ef7\u683c\u6210\u529f\u7a81\u7834\u4e86\u7ef4\u6301\u957f\u8fbe\u56db\u5e74\u4e4b\u4e45\u7684\u957f\u671f\u4e0b\u964d\u963b\u529b\u7ebf\uff0c\u53d1\u51fa\u4e86\u4ece\u957f\u671f\u770b\u8dcc\u8f6c\u5411\u770b\u6da8\u7684\u4fe1\u53f7\u3002\u5728\u6f2b\u957f\u7684\u718a\u5e02\u4e2d\uff0cZEC \u7ecf\u8fc7\u591a\u5e74\u7684\u76d8\u6574\u4e0e\u4f4e\u8c37\uff0c\u5b8c\u6210\u4e86\u673a\u6784\u548c\u65e9\u671f\u6295\u8d44\u8005\u7684\u5145\u8db3\u7684<strong>\u79ef\u7d2f\u671f<\/strong>\u3002\u4e00\u65e6\u4ef7\u683c\u7a81\u7834\u5173\u952e\u6280\u672f\u963b\u529b\u4f4d\uff0c\u7acb\u523b\u5f15\u53d1\u5927\u91cf\u7684\u505a\u7a7a\u5e73\u4ed3\u548c\u7b97\u6cd5\u4ea4\u6613\u7684\u4e70\u5165\u4fe1\u53f7\u3002<\/p>\n\n\n\n<p><strong>B. \u673a\u6784\u5174\u8da3\u7684\u52a0\u6301\uff1aGrayscale \u7684\u4fe1\u6258\u6548\u5e94<\/strong><\/p>\n\n\n\n<p>Grayscale Investments \u51b3\u5b9a\u5141\u8bb8\u5408\u683c\u6295\u8d44\u8005\u6295\u8d44 <strong>Grayscale Zcash Trust<\/strong>\u3002\u8fd9\u4e00\u4e3e\u63aa\u6781\u5927\u5730\u63d0\u9ad8\u4e86\u5e02\u573a\u7684\u673a\u6784\u5174\u8da3\u548c\u6295\u673a\u60c5\u7eea\u3002Grayscale \u7684\u80cc\u4e66\uff0c\u6807\u5fd7\u7740<strong>\u9690\u79c1\u8d44\u4ea7<\/strong>\u6b63\u5f0f\u8fdb\u5165\u5927\u8d44\u91d1\u7684\u89c6\u91ce\uff0c\u4e3a\u968f\u540e\u7684<strong>\u5927\u89c4\u6a21\u8d44\u91d1\u6d41\u5165<\/strong>\u94fa\u5e73\u4e86\u9053\u8def\u3002<\/p>\n\n\n\n<ol start=\"3\" class=\"wp-block-list\">\n<li>\u9876\u7ea7\u610f\u89c1\u9886\u8896\u7684\u201c\u9884\u8a00\u201d\uff1aArthur Hayes \u70b9\u71c3 FOMO<\/li>\n<\/ol>\n\n\n\n<p>\u5728\u6240\u6709\u56e0\u7d20\u4e2d\uff0cBitMEX \u8054\u5408\u521b\u59cb\u4eba <strong>Arthur Hayes<\/strong> \u7684\u516c\u5f00\u770b\u6da8\u5206\u6790\uff0c\u65e0\u7591\u662f\u70b9\u71c3\u6563\u6237 FOMO \u60c5\u7eea\u7684<strong>\u6700\u6838\u5fc3\u50ac\u5316\u5242<\/strong>\u3002<\/p>\n\n\n\n<p><strong>A. \u6781\u5177\u51b2\u51fb\u529b\u7684 $10,000 \u9884\u6d4b<\/strong><\/p>\n\n\n\n<p>Hayes \u53d1\u8868\u4e86\u770b\u6da8\u5206\u6790\uff0c\u9884\u6d4b ZEC \u5728\u4e0b\u4e00\u4e2a\u9690\u79c1\u5468\u671f\u4e2d\u53ef\u80fd\u8fbe\u5230 <strong>$10,000 \u7f8e\u5143<\/strong>\uff0c\u8fd9\u4e00\u6781\u9ad8\u7684\u76ee\u6807\u4ef7\u5f15\u53d1\u4e86\u5de8\u5927\u7684\u5e02\u573a\u5173\u6ce8\u3002\u4ed6\u7684\u6838\u5fc3\u89c2\u70b9\u662f\uff1a\u201c<strong>\u56db\u5e74\u5468\u671f\u5df2\u6b7b\uff0c\u6d41\u52a8\u6027\u5468\u671f\u6c38\u5b58<\/strong>\u201d\uff0c\u4ed6\u5c06 Zcash \u5b9a\u4f4d\u4e3a\u201c\u5bf9\u6297\u6bd4\u7279\u5e01\u900f\u660e\u6027\u7684\u4fdd\u9669\u201d\uff0c\u4ece\u6839\u672c\u4e0a\u63d0\u5347\u4e86 ZEC \u7684\u6295\u8d44\u4ef7\u503c\u548c\u53d9\u4e8b\u9ad8\u5ea6\u3002\u8fd1\u671fHayes\u53c8\u5728\u63a8\u7279\u53d1\u6587\u79f0\uff1a\u201c\u7531\u4e8e\u4ef7\u683c\u8fc5\u901f\u6500\u5347\uff0cZEC \u5df2\u6210\u4e3a Maelstrom \uff08\u5176\u5bb6\u65cf\u529e\u516c\u5ba4\uff09 \u6295\u8d44\u7ec4\u5408\u4e2d\u7b2c\u4e8c\u5927\u6d41\u52a8\u6027\u6301\u4ed3\uff0c\u4ec5\u6b21\u4e8e\u6bd4\u7279\u5e01\u3002\u201d<\/p>\n\n\n\n<p><strong>B. \u5f71\u54cd\u529b\u56de\u987e\uff1aHayes \u6548\u5e94\u7684\u8bc1\u660e<\/strong><\/p>\n\n\n\n<p>Arthur Hayes \u88ab\u5e7f\u6cdb\u89c6\u4e3a\u52a0\u5bc6\u4e16\u754c\u6700\u5177\u5f71\u54cd\u529b\u7684\u610f\u89c1\u9886\u8896\u4e4b\u4e00\u3002\u4f5c\u4e3a BitMEX \u7684\u8054\u5408\u521b\u59cb\u4eba\uff0c\u4ed6\u957f\u671f\u4ee5\u72ec\u7acb\u3001\u5b8f\u89c2\u7684\u5e02\u573a\u89c2\u70b9\u8457\u79f0\uff0c\u5176\u5206\u6790\u6587\u7ae0\u548c\u516c\u5f00\u8a00\u8bba\u5e38\u88ab\u4e3b\u6d41\u52a0\u5bc6\u5a92\u4f53\u5f15\u7528\uff0c\u5bf9\u77ed\u671f\u5e02\u573a\u60c5\u7eea\u786e\u5b9e\u5177\u6709\u4e00\u5b9a\u5f71\u54cd\u529b\u3002<\/p>\n\n\n\n<p><strong>1.<\/strong><strong>\u5b8f\u89c2\u53d9\u4e8b\u4e0e\u957f\u671f\u4fe1\u5ff5\uff1a\u767e\u4e07\u7f8e\u5143\u6bd4\u7279\u5e01\u9884\u6d4b<\/strong> 2025 \u5e74 5 \u6708\uff0cHayes \u5728\u5176\u4e2a\u4eba\u535a\u5ba2\u548c\u968f\u540e\u7684\u5a92\u4f53\u91c7\u8bbf\u4e2d\u9884\u6d4b\uff0c\u6bd4\u7279\u5e01\u53ef\u80fd\u5728 <strong>2028 \u5e74\u524d\u8fbe\u5230 100 \u4e07\u7f8e\u5143<\/strong>\uff0c\u8fd9\u4e00\u89c2\u70b9\u968f\u540e\u88ab CoinTelegraph\u3001The Defiant\u3001Decrypt \u7b49\u5a92\u4f53\u5e7f\u6cdb\u62a5\u9053\u3002\u4ed6\u6307\u51fa\uff0c\u6bd4\u7279\u5e01\u4ef7\u683c\u7684\u4e3b\u8981\u9a71\u52a8\u529b\u662f <strong>\u5168\u7403\u6d41\u52a8\u6027\uff08\u5c24\u5176\u662f\u7f8e\u5143\u6d41\u52a8\u6027\uff09\u4e0e\u592e\u884c\u8d44\u4ea7\u8d1f\u503a\u8868\u6269\u5f20<\/strong>\uff0c\u800c\u4e0d\u4ec5\u4ec5\u662f\u51cf\u534a\u673a\u5236\u3002\u8fd9\u4e00\u5b8f\u89c2\u89c6\u89d2\u4e3a\u5176\u5e02\u573a\u5206\u6790\u589e\u6dfb\u4e86\u8f83\u5f3a\u7684\u903b\u8f91\u4e00\u81f4\u6027\u4e0e\u524d\u77bb\u6027\u3002<\/p>\n\n\n\n<p><strong>2. HYPE \u4ee3\u5e01\u9884\u6d4b\uff1a\u4ece\u8a00\u8bba\u5230\u5e02\u573a\u53cd\u5e94<\/strong> 2025 \u5e74 8 \u6708\uff0cHayes \u5728 WebX 2025 \u5927\u4f1a\u4e0a\u516c\u5f00\u8868\u793a\uff0c\u4ed6\u770b\u597d\u53bb\u4e2d\u5fc3\u5316\u884d\u751f\u54c1\u534f\u8bae Hyperliquid \u7684\u539f\u751f\u4ee3\u5e01 HYPE\uff0c\u8ba4\u4e3a\u5176\u5728\u672a\u6765\u4e09\u5e74\u5185\u53ef\u80fd\u5b9e\u73b0 <strong>\u9ad8\u8fbe 126 \u500d\u7684\u6da8\u5e45<\/strong>\u3002\u8fd9\u4e00\u8a00\u8bba\u8fc5\u901f\u5f15\u8d77\u793e\u533a\u70ed\u8bae\uff0c\u5e76\u88ab CoinMarketCap\u3001Yahoo Finance \u7b49\u5a92\u4f53\u62a5\u9053\u3002\u867d\u7136\u65e0\u6cd5\u7cbe\u786e\u91cf\u5316\u77ed\u671f\u5f71\u54cd\uff0c\u4f46 CoinMarketCap \u6570\u636e\u663e\u793a\uff0cHYPE \u5728 Hayes \u53d1\u8a00\u540e\u7684\u4e00\u5468\u5185\u4ef7\u683c\u786e\u6709\u5c0f\u5e45\u4e0a\u6da8\uff0c\u90e8\u5206\u5e02\u573a\u89c2\u5bdf\u8005\u5c06\u5176\u5f52\u56e0\u4e8e \u201cHayes \u6548\u5e94\u201d \u5e26\u6765\u7684 FOMO \u60c5\u7eea\u63d0\u5347\u30022025 \u5e74 9 \u6708\uff0c\u636e CoinMarketCap \u62a5\u9053\uff0cHayes \u51fa\u552e\u4e86\u5176\u90e8\u5206 HYPE \u6301\u4ed3\uff0c<strong>\u83b7\u5229\u7ea6 19.2%<\/strong>\u3002\u8fd9\u4e00\u4ea4\u6613\u867d\u7136\u5c5e\u4e8e\u77ed\u671f\u64cd\u4f5c\uff0c\u4f46\u5728\u5e02\u573a\u4e2d\u88ab\u89c6\u4f5c\u5176\u5bf9\u6295\u673a\u5468\u671f\u4e0e\u6d41\u52a8\u6027\u7ba1\u7406\u7b56\u7565\u7684\u5178\u578b\u6848\u4f8b\uff0c\u4e5f\u8fdb\u4e00\u6b65\u5f3a\u5316\u4e86\u201cHayes \u6548\u5e94\u201d\u7684\u5e02\u573a\u5370\u8c61\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"853\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/The-HYPE-Token-Forecast-From-Words-to-Market-Reaction.png\" alt=\"The HYPE Token Forecast: From Words to Market Reaction\" class=\"wp-image-2909\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/The-HYPE-Token-Forecast-From-Words-to-Market-Reaction.png 1280w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/07\/The-HYPE-Token-Forecast-From-Words-to-Market-Reaction-300x200.png 300w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><figcaption class=\"wp-element-caption\"><strong>HYPE \u4ee3\u5e01\u9884\u6d4b\uff1a\u4ece\u8a00\u8bba\u5230\u5e02\u573a\u53cd\u5e94<\/strong><\/figcaption><\/figure>\n<\/div>\n\n\n<ol start=\"4\" class=\"wp-block-list\">\n<li>\u9876\u7ea7\u4eba\u624d\u4e0e\u6280\u672f\u7684\u8fde\u73af\u80cc\u4e66\uff1a\u4fe1\u5ff5\u7684\u653e\u5927\u5668<\/li>\n<\/ol>\n\n\n\n<p>\u5728 Hayes \u7684\u9884\u8a00\u4e4b\u540e\uff0c\u66f4\u591a\u884c\u4e1a\u5185\u6700\u5177\u5f71\u54cd\u529b\u7684\u4eba\u7269\u7eb7\u7eb7\u7ad9\u53f0\uff0c\u8fdb\u4e00\u6b65\u5de9\u56fa\u4e86\u5e02\u573a\u4fe1\u5ff5\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Naval Ravikant<\/strong> \u7b49\u77e5\u540d\u6295\u8d44\u8005\u516c\u5f00\u8868\u793a\u652f\u6301\u3002<\/li>\n\n\n\n<li>\u524d Coinbase \u5de5\u7a0b\u5e08\u3001Helius \u9996\u5e2d\u6267\u884c\u5b98 <strong>Mert Mumtaz<\/strong> \u7684\u652f\u6301\u3002Mumtaz \u5f3a\u8c03\uff0cZcash \u5373\u5c06\u8fdb\u884c\u7684\u6280\u672f\u5347\u7ea7\u5c06\u4f7f\u6027\u80fd\u63d0\u5347 <strong>1000 \u500d<\/strong>\uff0c\u91cd\u65b0\u70b9\u71c3\u4e86\u4eba\u4eec\u5bf9\u5176\u57fa\u4e8e zk-SNARK \u7684\u9690\u79c1\u67b6\u6784\u7684\u70ed\u60c5\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u4e09\u3001\u66b4\u6da8\u540e\u56e2\u961f\u7684\u53cd\u5e94 <\/h2>\n\n\n\n<p>Zcash \u7684\u5f00\u53d1\u548c\u652f\u6301\u5b9e\u4f53\uff08ECC \u4e0e Zcash Foundation\uff09\u907f\u514d\u76f4\u63a5\u8bc4\u8bba\u4ef7\u683c\uff0c\u4f46<strong>\u5f3a\u8c03\u5176\u6280\u672f\u4e0a\u7684\u6838\u5fc3\u4f18\u52bf\u548c\u6301\u7eed\u589e\u957f\u7684\u57fa\u672c\u9762<\/strong>\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6838\u5fc3\u5f00\u53d1\u529b\u91cf\u7684\u6269\u5f20\uff08\u66fc\u54c8\u987f\u8ba1\u5212\uff09\uff1a<\/strong> Helius Labs CEO Mert Mumtaz \u6b63\u81f4\u529b\u4e8e\u4e3a Zcash <strong>\u7ec4\u5efa\u4e00\u4e2a\u65b0\u7684\u72ec\u7acb\u6838\u5fc3\u56e2\u961f<\/strong>\uff0c\u4e13\u6ce8\u4e8e<strong>\u5927\u89c4\u6a21\u6269\u5c55\u6027\u548c\u5b89\u5168\u6027<\/strong>\uff0c\u65e8\u5728\u6253\u9020\u9690\u79c1\u8d27\u5e01\u7684\u201c\u66fc\u54c8\u987f\u8ba1\u5212\u201d\u3002\u8fd9\u4e00\u4e3e\u52a8\u5411\u5e02\u573a\u8bc1\u660e\uff0c\u9876\u7ea7\u4eba\u624d\u6b63\u6df1\u5ea6\u53c2\u4e0e Zcash \u7684\u672a\u6765\u5efa\u8bbe\u3002<\/li>\n\n\n\n<li><strong>\u63a8\u52a8\u91c7\u7528\u4e0e\u57fa\u7840\u8bbe\u65bd\uff1a<\/strong> \u56e2\u961f\u79ef\u6781\u5f3a\u8c03 Zcash \u5728\u6280\u672f\u4e0a\u7684\u6838\u5fc3\u4f18\u52bf\uff08\u5982\u96f6\u77e5\u8bc6\u8bc1\u660e zk-SNARKs\uff09\uff0c\u5e76\u8fdb\u4e00\u6b65\u6539\u5584 <strong>Zashi \u94b1\u5305\uff0c<\/strong>\u8fd9\u6837\u7684\u4ea7\u54c1\u521b\u65b0\uff0c\u65e8\u5728\u63d0\u4f9b\u66f4\u4f18\u8d8a\u3001\u66f4\u4fbf\u6377\u7684\u9690\u79c1\u548c\u8de8\u94fe\u4f53\u9a8c\u3002<\/li>\n\n\n\n<li><strong>\u6570\u636e\u5c55\u793a\u4e0e\u900f\u660e\u5ea6\uff1a<\/strong> \u56e2\u961f\u53ca\u5176\u652f\u6301\u8005\u79ef\u6781\u5206\u4eab\u94fe\u4e0a\u6570\u636e\uff0c\u5c24\u5176\u662f <strong>Shielded ZEC \u603b\u91cf<\/strong> \u548c <strong>\u9690\u85cf\u4ea4\u6613\u7b14\u6570<\/strong> \u7684\u589e\u957f\uff0c\u4ee5\u8bc1\u660e\u4ef7\u683c\u4e0a\u6da8\u662f\u7531\u5b9e\u9645\u7684\u7528\u6237\u91c7\u7528\u7387\u548c\u57fa\u672c\u9762\u6539\u5584\u652f\u6491\u7684\u3002<\/li>\n\n\n\n<li><strong>\u9762\u5411\u5408\u89c4\u6027\u7684\u63a2\u7d22\uff1a<\/strong> ECC \u6301\u7eed\u81f4\u529b\u4e8e\u89e3\u51b3\u9690\u79c1\u5e01\u7684\u5408\u89c4\u6027\u95ee\u9898\uff0c\u4f8b\u5982\u901a\u8fc7\u9009\u62e9\u6027\u62ab\u9732\uff08Selective Disclosure\uff09\u673a\u5236\uff0c\u8ba9\u7528\u6237\u5728\u5fc5\u8981\u65f6\u53ef\u4ee5\u8bc1\u660e\u5176\u8d44\u91d1\u6765\u6e90\uff0c\u4ee5\u6ee1\u8db3\u673a\u6784\u548c\u76d1\u7ba1\u7684\u9700\u6c42\uff0c\u4f46\u540c\u65f6\u4fdd\u7559\u4e86\u6838\u5fc3\u9690\u79c1\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u56db\u3001\u66b4\u6da8\u5e26\u6765\u7684\u5f71\u54cd\uff1a\u9690\u79c1\u8d5b\u9053\u7684\u96c6\u4f53\u7206\u53d1\u4e0e\u5206\u5316 <\/h2>\n\n\n\n<p>Zcash (ZEC) \u7684\u66b4\u6da8\u5728\u52a0\u5bc6\u8d27\u5e01\u5e02\u573a\u4e2d\u4ea7\u751f\u4e86\u5de8\u5927\u7684\u8fde\u9501\u53cd\u5e94\uff0c\u5b83\u6210\u529f\u5730\u5c06\u201c\u9690\u79c1\u201d<strong>\u8fd9\u4e00\u4e3b\u9898\u91cd\u65b0\u62c9\u56de\u805a\u5149\u706f\u4e0b\uff0c\u4f7f\u5f97\u8d44\u91d1\u5f00\u59cb\u4ece\u4e3b\u6d41\u8d44\u4ea7\u6d41\u5411\u8fd9\u4e2a<\/strong>\u201c\u88ab\u9057\u5fd8\u7684\u677f\u5757\u201d\uff0c\u5bfc\u81f4\u4e86\u6574\u4e2a\u9690\u79c1\u5e01\u677f\u5757\u7684\u96c6\u4f53\u4e0a\u6da8\uff0c\u540c\u65f6\u4e5f\u5f15\u53d1\u4e86\u6df1\u523b\u7684\u884c\u4e1a\u53cd\u601d\u4e0e\u6bd4\u8f83\u3002<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li>\u5e02\u573a\u5f71\u54cd<\/li>\n<\/ol>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>\u5f71\u54cd\u5c42\u9762<\/td><td>\u5177\u4f53\u8868\u73b0<\/td><td>\u5e02\u573a\u610f\u4e49<\/td><\/tr><tr><td>\u677f\u5757\u8f6e\u52a8\u6548\u5e94<\/td><td>\u90e8\u5206\u4ece Zcash \u83b7\u5229\u4e86\u7ed3\u7684\u8d44\u91d1\uff0c\u5f00\u59cb\u5bfb\u627e\u5e76\u6d41\u5165\u5176\u4ed6\u5c1a\u672a\u66b4\u6da8\u7684\u9690\u79c1\u5e01\uff0c\u5982\u95e8\u7f57\u5e01\uff08XMR\uff09\u3001\u8fbe\u4e16\u5e01\uff08DASH\uff09\u7b49\uff0c\u63a8\u52a8\u5176\u4ef7\u683c\u8865\u6da8\u3002<\/td><td>\u5e02\u573a\u9a8c\u8bc1\u4e86\u201c\u9690\u79c1\u201d\u53d9\u4e8b\u7684\u4ef7\u503c\uff0c\u50ac\u751f\u4e86\u9ad8\u98ce\u9669\/\u9ad8\u56de\u62a5\u7684\u6295\u8d44\u8f6e\u52a8\u3002<\/td><\/tr><tr><td>\u673a\u6784\u5173\u6ce8\u5ea6\u91cd\u71c3<\/td><td>\u9690\u79c1\u8d5b\u9053\u518d\u6b21\u8fdb\u5165\u5927\u8d44\u91d1\u7684\u89c6\u91ce\uff0c\u63d0\u5347\u4e86\u6574\u4e2a\u677f\u5757\u7684\u6d41\u52a8\u6027\u9884\u671f\u3002<\/td><td>\u5bf9\u51b2\u5b8f\u89c2\u76d1\u7ba1\u98ce\u9669\u7684\u9700\u6c42\u4e0a\u5347\uff0c\u9690\u79c1\u5e01\u6210\u4e3a\u673a\u6784\u5bf9\u51b2\u7ec4\u5408\u7684\u4e00\u90e8\u5206\u3002<\/td><\/tr><tr><td>\u9a8c\u8bc1\u9690\u79c1\u53d9\u4e8b<\/td><td>Zcash \u7684\u66b4\u6da8\u5411\u5e02\u573a\u8bc1\u660e\u4e86\u201c\u9690\u79c1\u201d\u662f\u4e00\u4e2a\u5f3a\u5927\u4e14\u80fd\u88ab\u8d44\u672c\u8ba4\u53ef\u7684\u53d9\u4e8b\uff0c\u6253\u7834\u4e86\u6b64\u524d\u201c\u9690\u79c1\u5e01\u5df2\u6b7b\u201d\u7684\u60b2\u89c2\u8bba\u8c03\u3002<\/td><td>\u53d9\u4e8b\u5171\u8bc6\u88ab\u91cd\u65b0\u5efa\u7acb\uff0c\u4e3a\u540e\u7eed\u9690\u79c1\u6280\u672f\u7684\u521b\u65b0\u548c\u5e02\u573a\u91c7\u7528\u63d0\u4f9b\u4e86\u57fa\u7840\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<ol start=\"2\" class=\"wp-block-list\">\n<li>\u9690\u79c1\u5e01\u677f\u5757\u7684\u96c6\u4f53\u7206\u53d1\u4e0e\u5206\u5316\u6bd4\u8f83<\/li>\n<\/ol>\n\n\n\n<p>ZEC \u7684\u6210\u529f\u51e0\u4e4e\u662f\u4e00\u573a\u201c\u9690\u79c1\u5e01\u725b\u5e02\u201d\u7684\u4fe1\u53f7\uff0c\u4f46\u4e0d\u540c\u4ee3\u5e01\u7684\u5e02\u573a\u8868\u73b0\u548c\u6280\u672f\u4f18\u52bf\u5374\u51fa\u73b0\u4e86\u660e\u663e\u7684\u5206\u5316\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td>\u9690\u79c1\u5e01\uff08Privacy Coin\uff09<\/td><td>\u6838\u5fc3\u9690\u79c1\u673a\u5236<\/td><td>\u5e02\u573a\u53cd\u5e94<\/td><td>\u6838\u5fc3\u7279\u70b9\u4e0e\u5730\u4f4d<\/td><\/tr><tr><td>\u95e8\u7f57\u5e01\uff08XMR\uff09<\/td><td>Ring Signatures\uff08\u73af\u7b7e\u540d\uff09<\/td><td>\u4ef7\u683c\u4e0a\u6da8\uff0c\u4f46\u6da8\u5e45\u660e\u663e\u843d\u540e\u4e8e ZEC<\/td><td>\u9690\u79c1\u5e01\u9f99\u5934\uff0c\u5f3a\u8c03\u9ed8\u8ba4\u9690\u79c1\uff0c\u6297\u76d1\u7ba1\u6027\u5f3a\u3002\u56e0\u5176\u5b8c\u5168\u9690\u79c1\u7684\u7279\u6027\uff0c\u5728\u67d0\u4e9b\u4ea4\u6613\u6240\u53ef\u80fd\u9762\u4e34\u4e0b\u67b6\u98ce\u9669\u3002<\/td><\/tr><tr><td>\u8fbe\u4e16\u5e01\uff08DASH\uff09<\/td><td>PrivateSend\uff08\u6df7\u5e01\u673a\u5236\uff09<\/td><td>\u51fa\u73b0\u5927\u5e45\u5ea6\u4e0a\u6da8\uff0c\u6700\u9ad8\u5b9e\u73b07\u500d\u6da8\u5e45\uff0c\u5f53\u524d\u6709\u6240\u56de\u843d\uff0c\u4f46\u8f839\u6708\u5e95\u4ecd\u67093.5\u500d\u6da8\u5e45\u3002<\/td><td>\u5b9a\u4f4d\u4e3a\u201c\u6570\u5b57\u73b0\u91d1\u201d\uff0c\u652f\u6301\u6781\u901f\u652f\u4ed8\uff08InstantSend\uff09\u548c\u53bb\u4e2d\u5fc3\u5316\u6cbb\u7406\uff08DAO\uff09\u3002\u5176\u53ef\u9009\u7684\u9690\u79c1\u6a21\u5f0f\uff08PrivateSend\uff09\u4f7f\u5176\u5728\u6ee1\u8db3\u90e8\u5206\u533f\u540d\u9700\u6c42\u7684\u540c\u65f6\uff0c\u4fdd\u6301\u4e86\u6bd4\u5f3a\u5236\u533f\u540d\u5e01\u66f4\u597d\u7684\u76d1\u7ba1\u517c\u5bb9\u6027\u548c\u4ea4\u6613\u6240\u6d41\u52a8\u6027\u3002<\/td><\/tr><tr><td>Tornado Cash (TORN)<\/td><td>\u6df7\u5e01\u534f\u8bae<\/td><td>10\u6708\u521d\u51fa\u73b0\u77ed\u6682\u5927\u5e45\u53cd\u5f39\uff0c\u5f53\u524d\u5df2\u7ecf\u56de\u843d\u3002<\/td><td>\u53bb\u4e2d\u5fc3\u5316\u6df7\u5e01\u534f\u8bae\uff0c\u4ef7\u683c\u53cd\u5f39\u663e\u793a\u5e02\u573a\u5bf9\u94fe\u4e0a\u9690\u79c1\u9700\u6c42\u7684\u575a\u5b9a\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Zcash \u7684\u9ad8\u8c03\u8868\u73b0\u548c\u677f\u5757\u7684\u96c6\u4f53\u72c2\u6b22\uff0c\u4e5f\u5e26\u6765\u4e86\u4e00\u4e2a\u6f5c\u5728\u98ce\u9669\uff1a\u5b83\u53ef\u80fd\u4fc3\u4f7f\u5168\u7403\u76d1\u7ba1\u673a\u6784<strong>\u52a0\u5feb\u5bf9\u9690\u79c1\u5e01\u7684\u7acb\u6cd5\u548c\u76d1\u7ba1\u6b65\u4f10<\/strong>\uff0c\u5bf9\u4f9d\u8d56\u4e2d\u5fc3\u5316\u57fa\u7840\u8bbe\u65bd\uff08\u5982\u4ea4\u6613\u6240\uff09\u7684\u9690\u79c1\u5e01\u6784\u6210\u6f5c\u5728\u5a01\u80c1\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u4e94\u3001\u4ece\u201c\u9690\u79c1\u5e01\u201d\u5230\u201c\u9690\u79c1\u652f\u4ed8\u65b9\u6848\u201d <\/h2>\n\n\n\n<p>\u8fd1\u671f Zcash \u7b49\u9690\u79c1\u5e01\u7684\u9636\u6bb5\u6027\u66b4\u6da8\uff0c\u5e76\u975e\u5b64\u7acb\u7684\u6295\u673a\u4e8b\u4ef6\uff0c\u800c\u662f\u9690\u79c1\u8bae\u9898\u5728\u52a0\u5bc6\u884c\u4e1a\u4e2d\u91cd\u65b0\u88ab\u805a\u7126\u7684\u4fe1\u53f7\u3002\u5c3d\u7ba1\u4ef7\u683c\u77ed\u671f\u6ce2\u52a8\u4ecd\u53d7\u5e02\u573a\u60c5\u7eea\u3001KOL \u8a00\u8bba\u53ca\u6d41\u52a8\u6027\u8f6e\u52a8\u7b49\u591a\u91cd\u56e0\u7d20\u5f71\u54cd\uff0c\u4f46\u9690\u79c1\u4fdd\u62a4\u6b63\u5728\u6210\u4e3a\u7528\u6237\u7684\u6838\u5fc3\u8bc9\u6c42\u4e4b\u4e00\u2014\u2014\u8fd9\u662f\u52a0\u5bc6\u5e02\u573a\u7528\u771f\u91d1\u767d\u94f6\u6295\u51fa\u7684\u201c\u529f\u80fd\u6027\u9009\u7968\u201d\u3002\u7136\u800c\uff0c\u73b0\u6709\u9690\u79c1\u5e01\u4f53\u7cfb\uff08\u5982 Zcash\u3001Monero\uff09\u5728\u6280\u672f\u4e0e\u751f\u6001\u5c42\u9762\u4ecd\u5b58\u5728\u4e09\u5927\u7ed3\u6784\u6027\u5c40\u9650\uff0c\u8fd9\u4e9b\u95ee\u9898\u963b\u788d\u4e86\u9690\u79c1\u6280\u672f\u88ab\u4e3b\u6d41\u3001\u5927\u89c4\u6a21\u3001\u65e0\u7f1d\u5730\u91c7\u7528\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span><strong>1. \u201c\u8d44\u4ea7\u5b64\u5c9b\u201d\u5c40\u9650\u6027<\/strong> <\/h3>\n\n\n\n<p>\u5728\u591a\u6570\u9690\u79c1\u5e01\u6a21\u578b\u4e2d\uff0c\u7528\u6237\u5fc5\u987b\u4f7f\u7528\u9879\u76ee\u539f\u751f\u4ee3\u5e01\uff08ZEC\u3001XMR\uff09\u624d\u80fd\u5b9e\u73b0\u9690\u79c1\u4ea4\u6613\u3002\u8fd9\u610f\u5473\u7740\uff0c\u60f3\u8981\u83b7\u5f97\u9690\u79c1\u529f\u80fd\uff0c\u7528\u6237\u5fc5\u987b\u8d2d\u4e70\u5e76\u6301\u6709\u7279\u5b9a\u5e01\u79cd\uff0c\u4ece\u800c\u627f\u62c5\u989d\u5916\u7684\u8d44\u4ea7\u914d\u7f6e\u6210\u672c\u548c\u4ef7\u683c\u6ce2\u52a8\u98ce\u9669\u3002\u8fd9\u4e00\u7ed3\u6784\u4f7f\u201c\u9690\u79c1\u201d\u53d8\u6210\u67d0\u79cd\u8d27\u5e01\u7684\u9644\u5c5e\u5c5e\u6027\uff0c\u800c\u975e\u4e00\u79cd\u53ef\u9009\u670d\u52a1\u3002\u8d8a\u6765\u8d8a\u591a\u7684\u7814\u7a76\u4e0e\u884c\u4e1a\u8d8b\u52bf\u663e\u793a\uff0c\u7528\u6237\u66f4\u5e0c\u671b\u5728\u73b0\u6709\u8d44\u4ea7\uff08USDT\u3001ETH\u3001\u4e3b\u6d41\u7a33\u5b9a\u5e01\uff09\u4e0a\u83b7\u5f97\u9690\u79c1\u4fdd\u62a4\uff0c\u800c\u4e0d\u662f\u4e3a\u4e86\u9690\u79c1\u529f\u80fd\u88ab\u8feb\u8fdb\u5165\u65b0\u5e01\u751f\u6001\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span><strong>2. \u201c\u7528\u6237\u4f53\u9a8c\u201d\u5c40\u9650\u6027<\/strong> <\/h3>\n\n\n\n<p>\u9690\u79c1\u5e01\u4e0e\u9690\u79c1\u534f\u8bae\u7684\u4f7f\u7528\u4f53\u9a8c\u666e\u904d\u5b58\u5728\u95e8\u69db\u3002\u4ee5 Zcash \u4e3a\u4f8b\uff0c\u7528\u6237\u9700\u8981\u533a\u5206\u900f\u660e\u5730\u5740\u4e0e\u5c4f\u853d\u5730\u5740\uff08z\uff0c\u540e\u8005\u867d\u5177\u9690\u79c1\u6027\uff0c\u5374\u9020\u6210\u94b1\u5305\u517c\u5bb9\u6027\u95ee\u9898\uff1bMonero \u7684\u4ea4\u6613\u6784\u9020\u4e0e\u7b7e\u540d\u8fc7\u7a0b\u5219\u76f8\u5bf9\u7f13\u6162\uff0c\u5bfc\u81f4\u786e\u8ba4\u5ef6\u8fdf\uff1b\u800c\u5728\u94fe\u4e0a\u9690\u79c1\u534f\u8bae\uff08\u5982 Railgun\u3001Aztec\uff09\u4e2d\uff0c\u96f6\u77e5\u8bc6\u8bc1\u660e\u751f\u6210\u8ba1\u7b97\u91cf\u5927\uff0cGas \u6210\u672c\u4f9d\u7136\u504f\u9ad8\u3002\u5728\u8fd9\u4e00\u70b9\u4e0a\uff0cMessari\u300aState of Privacy Tokens Q3 2025\u300b\u62a5\u544a\u6307\u51fa\uff1a\u201c\u590d\u6742\u7684\u4f7f\u7528\u4f53\u9a8c\u4e0e\u9ad8\u989d\u4ea4\u6613\u6210\u672c\uff0c\u662f\u9690\u79c1\u534f\u8bae\u96be\u4ee5\u8d70\u5411\u4e3b\u6d41 adoption \u7684\u6700\u5927\u963b\u529b\u4e4b\u4e00\u201d\u3002\u7406\u60f3\u7684\u9690\u79c1\u652f\u4ed8\u4e0d\u5e94\u8ba9\u7528\u6237\u611f\u77e5\u6280\u672f\u590d\u6742\u6027\uff0c\u53d1\u9001\u4e00\u7b14\u9690\u79c1\u4ea4\u6613\uff0c\u5e94\u8be5\u50cf\u53d1\u7ea2\u5305\u4e00\u6837\u7b80\u5355\u3001\u5373\u65f6\u4e14\u5b89\u5168\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span><strong>3. \u201c\u751f\u6001\u517c\u5bb9\u201d\u5c40\u9650\u6027<\/strong> <\/h3>\n\n\n\n<p>\u591a\u6570\u9690\u79c1\u5e01\u4ecd\u8fd0\u884c\u5728\u72ec\u7acb\u94fe\u4e0a\uff0c\u4e0e\u5feb\u901f\u6269\u5f20\u7684 DeFi\u3001GameFi \u4e0e Layer-2 \u751f\u6001\u5272\u88c2\u3002Zcash \u548c Monero \u76ee\u524d\u90fd\u7f3a\u4e4f\u539f\u751f\u7684\u8de8\u94fe\u4e92\u64cd\u4f5c\u6027\uff0c\u4f7f\u5f97\u7528\u6237\u96be\u4ee5\u5728\u4e3b\u6d41\u591a\u94fe\u751f\u6001\u4e2d\u4f7f\u7528\u9690\u79c1\u8d44\u4ea7\u3002\u6b63\u5982 Messari \u62a5\u544a\u6240\u6307\u51fa\u7684\u90a3\u6837\uff1a\u201c\u9690\u79c1\u5e01\u7684\u72ec\u7acb\u6027\u662f\u5176\u5b89\u5168\u57fa\u7840\uff0c\u540c\u65f6\u4e5f\u662f adoption \u7684\u6700\u5927\u963b\u529b\u2014\u2014\u5b83\u4eec\u5929\u751f\u4e0e\u4e3b\u6d41\u7ecf\u6d4e\u5c42\u9694\u7edd\u201d\u3002\u9690\u79c1\u6280\u672f\u7684\u672a\u6765\uff0c\u663e\u7136\u4e0d\u5e94\u4ee5\u727a\u7272\u53ef\u7528\u6027\u4e0e\u5f00\u653e\u6027\u4e3a\u4ee3\u4ef7\u3002\u771f\u6b63\u7684\u9690\u79c1\u652f\u4ed8\u65b9\u6848\uff0c\u5e94\u5f53\u50cf\u4e92\u8054\u7f51\u7684 HTTPS \u4e00\u6837\uff0c\u6210\u4e3a\u5e95\u5c42\u6807\u51c6\uff0c\u800c\u975e\u4e00\u4e2a\u5b64\u7acb\u7684\u751f\u6001\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/asset-isolation-user-experience-and-ecosystem-compatibility-1024x682.png\" alt=\"asset isolation, user experience and ecosystem compatibility\" class=\"wp-image-3046\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/asset-isolation-user-experience-and-ecosystem-compatibility-1024x682.png 1024w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/asset-isolation-user-experience-and-ecosystem-compatibility-300x200.png 300w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/asset-isolation-user-experience-and-ecosystem-compatibility-768x512.png 768w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/asset-isolation-user-experience-and-ecosystem-compatibility.png 1280w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">\u8d44\u4ea7\u9694\u79bb\u3001\u7528\u6237\u4f53\u9a8c\u548c\u751f\u6001\u7cfb\u7edf\u517c\u5bb9\u6027<\/figcaption><\/figure>\n<\/div>\n\n\n<h3 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u4ece\u201c\u9690\u79c1\u5e01\u201d\u5230\u201c\u9690\u79c1\u652f\u4ed8\u65b9\u6848\u201d\u7684\u8303\u5f0f\u8f6c\u79fb <\/h3>\n\n\n\n<p>\u6211\u4eec\u9700\u8981\u7684\u4e0d\u4ec5\u4ec5\u662f\u4e00\u4e2a\u9690\u79c1\u5e01\uff0c\u800c\u662f\u4e00\u4e2a\u80fd\u591f\u5f7b\u5e95\u89e3\u51b3\u4e0a\u8ff0\u75db\u70b9\u7684 \u201c\u9690\u79c1\u652f\u4ed8\u65b9\u6848\u201d\u6216\u201c\u901a\u7528\u9690\u79c1\u5c42\u201d\uff0c\u5b83\u9700\u8981\u505a\u5230\u4ee5\u4e0b\u51e0\u70b9\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4ece\u8d44\u4ea7\u5230\u529f\u80fd\uff1a<\/strong> \u9690\u79c1\u4e0d\u518d\u662f\u7279\u5b9a\u4ee3\u5e01\uff0c\u800c\u5e94\u8be5\u88ab\u62bd\u8c61\u4e3a\u4e00\u4e2a\u53ef\u4f9b\u4efb\u4f55\u6570\u5b57\u8d44\u4ea7\u8c03\u7528\u7684\u529f\u80fd\u6216\u670d\u52a1\u3002<\/li>\n\n\n\n<li><strong>\u751f\u6001\u7ec4\u5408\u6027\uff1a<\/strong> \u80fd\u591f\u4e0e DeFi\u3001GameFi \u548c\u5176\u4ed6 Web3 \u5e94\u7528\u65e0\u7f1d\u96c6\u6210\u3002\u7528\u6237\u53ef\u4ee5\u5c06\u9690\u79c1\u8d44\u4ea7\u6865\u63a5\u5230\u6216\u5728\u9690\u79c1\u5c42\u5185\u4e0e\u5176\u4ed6\u534f\u8bae\u8fdb\u884c\u4ea4\u4e92\uff0c\u540c\u65f6\u7ef4\u6301\u533f\u540d\u6027\u3002<\/li>\n\n\n\n<li><strong>\u7528\u6237\u4f53\u9a8c\u4f18\u5316\uff1a<\/strong> \u4ea4\u6613\u786e\u8ba4\u5fc5\u987b\u8fbe\u5230\u5373\u65f6\u6216\u63a5\u8fd1\u5373\u65f6\u7684\u7ea7\u522b\uff0c\u8d39\u7528\u4f4e\u5ec9\uff0c\u4e14\u64cd\u4f5c\u6d41\u7a0b\u7b80\u5355\u76f4\u89c2\uff0c\u8ba9\u666e\u901a\u7528\u6237\u53ef\u4ee5\u65e0\u969c\u788d\u4f7f\u7528\u3002<\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"853\" src=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/The-paradigm-shift-from-privacy-currency-to-privacy-payment-solutions-.png\" alt=\"The paradigm shift from privacy currency to privacy payment solutions\" class=\"wp-image-3047\" style=\"width:600px\" srcset=\"https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/The-paradigm-shift-from-privacy-currency-to-privacy-payment-solutions-.png 1280w, https:\/\/www.benfen.org\/blog\/wp-content\/uploads\/2025\/11\/The-paradigm-shift-from-privacy-currency-to-privacy-payment-solutions--300x200.png 300w\" sizes=\"(max-width: 1280px) 100vw, 1280px\" \/><\/figure>\n<\/div>\n\n\n<h2 class=\"wp-block-heading\"><span><i class=\"fas fa-arrow-right\"><\/i><\/span>\u516d\u3001\u9690\u79c1\u652f\u4ed8\u8d5b\u9053\u7684\u65b0\u673a\u4f1a\uff1a\u4ece Zcash \u66b4\u6da8\u770b\u9690\u79c1\u652f\u4ed8\u516c\u94fe\u6f5c\u529b <\/h2>\n\n\n\n<p>Zcash \u7684\u66b4\u6da8\uff0c\u5c06\u9690\u79c1\u5e01\u4e0e\u9690\u79c1\u652f\u4ed8\u8d5b\u9053\u91cd\u65b0\u63a8\u56de\u805a\u5149\u706f\u4e4b\u4e0b\u3002\u968f\u7740 Zcash \u7a81\u7834\u957f\u671f\u4f4e\u4f4d\u5e76\u5728\u77ed\u65f6\u95f4\u5185\u5f55\u5f97\u8d85\u8fc7 10\u500d\u7684\u6da8\u5e45\uff0c\u5e02\u573a\u5bf9\u201c\u9690\u79c1\u201d\u8fd9\u4e00\u957f\u671f\u88ab\u4f4e\u4f30\u7684\u53d9\u4e8b\u91cd\u65b0\u7ed9\u51fa\u4e86\u5b9a\u4ef7\u3002\u5bf9\u4e8e\u6295\u8d44\u8005\u800c\u8a00\uff0c\u8fd9\u6837\u7684\u4ef7\u683c\u8868\u73b0\uff0c\u4e0d\u4ec5\u662f\u4e00\u6b21\u884c\u60c5\u6ce2\u52a8\uff0c\u66f4\u50cf\u662f\u4e00\u5219\u5f3a\u70c8\u7684\u5e02\u573a\u4fe1\u53f7\u2014\u2014<strong>\u9690\u79c1\u652f\u4ed8\u6280\u672f\u4e0e\u9690\u79c1\u578b\u8d44\u4ea7\uff0c\u6b63\u5728\u8fce\u6765\u65b0\u4e00\u8f6e\u7684\u5173\u6ce8\u5468\u671f\u3002<\/strong><\/p>\n\n\n\n<p><strong>\u6295\u8d44\u8005\u89c6\u89d2\uff1a\u4ece\u4ef7\u683c\u4fe1\u53f7\u5230\u8d5b\u9053\u5224\u65ad<\/strong><\/p>\n\n\n\n<p>\u5bf9\u5927\u91cf\u5e02\u573a\u53c2\u4e0e\u8005\u800c\u8a00\uff0cZcash \u7684\u5feb\u901f\u62c9\u5347\u76f4\u63a5\u653e\u5927\u4e86\u60c5\u7eea\uff1a\u5728\u4e24\u4e2a\u6708\u5185\u4ece\u4f4e\u8c37\u53cd\u8f6c\u81f3 560\u7f8e\u5143\u9644\u8fd1\uff0c\u8fd9\u79cd\u7ea7\u522b\u7684\u8d70\u52bf\uff0c\u5f88\u96be\u88ab\u7b80\u5355\u89c6\u4e3a\u201c\u6280\u672f\u6027\u53cd\u5f39\u201d\u3002\u5728\u5168\u7403\u76d1\u7ba1\u6301\u7eed\u6536\u7d27\u3001\u94fe\u4e0a\u884c\u4e3a\u9ad8\u5ea6\u53ef\u89c1\u7684\u5f53\u4e0b\uff0c\u9690\u79c1\u4fdd\u62a4\u5f00\u59cb\u4ece\u201c\u53ef\u9009\u9879\u201d\u6f14\u53d8\u4e3a\u201c\u521a\u9700\u80fd\u529b\u201d\uff0c\u6295\u8d44\u8005\u4e5f\u5f00\u59cb\u987a\u7740\u4ef7\u683c\u4fe1\u53f7\uff0c\u91cd\u65b0\u5ba1\u89c6\u4e00\u4e2a\u95ee\u9898\uff1a<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u9690\u79c1\u652f\u4ed8\u4f1a\u4e0d\u4f1a\u6210\u4e3a\u4e0b\u4e00\u8f6e\u52a0\u5bc6\u6280\u672f\u4e0e\u5e94\u7528\u7684\u4e3b\u7ebf\u4e4b\u4e00\uff1f<\/p>\n<\/blockquote>\n\n\n\n<p>\u4f20\u7edf\u9690\u79c1\u5e01\u5728\u6027\u80fd\u3001\u53ef\u7528\u6027\u4e0e\u76d1\u7ba1\u538b\u529b\u4e4b\u95f4\u957f\u671f\u6447\u6446\uff0c\u5355\u7eaf\u201c\u505a\u4e00\u4e2a\u533f\u540d\u5e01\u201d\u7684\u65f6\u4ee3\u663e\u7136\u5df2\u7ecf\u8fc7\u53bb\u3002\u5e02\u573a\u66f4\u671f\u5f85\u7684\u662f\u4e00\u79cd\u201c\u65e2\u80fd\u4fdd\u62a4\u9690\u79c1\uff0c\u53c8\u80fd\u771f\u6b63\u88ab\u7528\u8d77\u6765\u7684\u57fa\u7840\u8bbe\u65bd\u201d\u2014\u2014\u4e0d\u662f\u5728\u65e2\u6709\u516c\u94fe\u4e0a\u4e8b\u540e\u53e0\u52a0\u9690\u79c1\u7ec4\u4ef6\uff0c\u800c\u662f\u4ece\u5e95\u5c42\u4e3a\u9690\u79c1\u652f\u4ed8\u573a\u666f\u505a\u6df1\u5ea6\u5b9a\u5236\u3002<\/p>\n\n\n\n<p><strong>\u9690\u79c1\u652f\u4ed8\u8d5b\u9053\u89c9\u9192\uff1aZcash \u66b4\u6da8\u540e\u7684\u65b0\u53d9\u4e8b<\/strong><\/p>\n\n\n\n<p>\u5728 Zcash \u4ef7\u683c\u62c9\u5347\u4e4b\u540e\uff0c\u9690\u79c1\u652f\u4ed8\u8d5b\u9053\u7684\u5173\u6ce8\u5ea6\u660e\u663e\u62ac\u5347\uff0c\u5e02\u573a\u8ba8\u8bba\u4e5f\u4ece\u201c\u533f\u540d\u6295\u673a\u201d\u9010\u6e10\u8f6c\u5411\u201c\u9690\u79c1\u6743\u4e0e\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\u201d\u7684\u89c6\u89d2\u3002\u65e0\u8bba\u662f\u5728\u52a0\u5bc6\u8d44\u4ea7\u4ea4\u6613\u3001\u8de8\u5883\u8d44\u91d1\u6d41\u8f6c\uff0c\u8fd8\u662f\u5728 DeFi \u534f\u8bae\u7684\u591a\u94fe\u7ec4\u5408\u4f7f\u7528\u4e2d\uff0c\u7528\u6237\u90fd\u5f00\u59cb\u610f\u8bc6\u5230\uff1a\u5b8c\u5168\u900f\u660e\u7684\u5730\u5740\u4e0e\u8d44\u91d1\u8f68\u8ff9\uff0c\u6b63\u5728\u5e26\u6765\u5b9e\u9645\u7684\u884c\u4e3a\u538b\u529b\u4e0e\u98ce\u9669\u655e\u53e3\u3002<\/p>\n\n\n\n<p>\u5728\u8fd9\u6837\u7684\u80cc\u666f\u4e0b\uff0c<strong><a href=\"https:\/\/www.benfen.org\/\">\u672c\u5206\u94fe<\/a><\/strong>\uff08BenFen\uff09\u7684\u9690\u79c1\u652f\u4ed8\u65b9\u6848\uff0c\u4f5c\u4e3a\u65b0\u4e00\u4ee3\u9690\u79c1\u516c\u94fe\u8def\u7ebf\u7684\u4ee3\u8868\uff0c\u5f00\u59cb\u88ab\u4e1a\u5185\u89c6\u4e3a\u4e00\u4e2a\u503c\u5f97\u89c2\u5bdf\u7684\u6837\u672c\u3002<\/p>\n\n\n\n<p>\u4e0e\u4f20\u7edf\u201c\u5916\u6302\u5f0f\u9690\u79c1\u63d2\u4ef6\u201d\u4e0d\u540c\uff0c\u672c\u5206\u94fe\u5728\u8bbe\u8ba1\u8d77\u70b9\u5c31\u5c06\u201c\u9690\u79c1\u201d\u5199\u5165\u7cfb\u7edf\u7ea7\u76ee\u6807\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e0d\u662f\u5728 L2 \u6216\u5e94\u7528\u5c42\u5305\u4e00\u5c42\u906e\u7f69\uff0c<\/li>\n\n\n\n<li>\u800c\u662f\u5728\u5e95\u5c42\u67b6\u6784\u5230\u5e94\u7528\u63a5\u53e3\u7684\u5168\u6808\u5c42\u9762\uff0c\u4e3a\u9690\u79c1\u652f\u4ed8\u8fdb\u884c\u5b9a\u5236\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u5176\u6280\u672f\u9009\u578b\u2014\u2014\u5b89\u5168\u4e3a\u5148\u7684 Move 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