Cryptocurrencies are digital forms of money that use cryptography to secure transactions and control the creation of new units. They have become a popular topic in recent years, as more people are curious about their potential, challenges, and implications for the future of finance.

加密货币是一种数字形式的货币，它使用加密技术来保护交易并控制新单位的创建。近年来，它们已成为一个热门话题，因为越来越多的人对它们的潜力、挑战以及对金融未来的影响感到好奇。

One of the key features of cryptocurrencies is their supply, or the total number of tokens or coins that can exist in the market. Some cryptocurrencies have a fixed supply, meaning that there is a lifetime cap on how many tokens or coins can be mined or created. This makes them deflationary, as their value tends to increase over time due to scarcity. Bitcoin, for example, has a fixed supply of 21 million BTC.

加密货币的主要特征之一是其供应量，或者市场上可以存在的代币或硬币的总数。一些加密货币具有固定的供应量，这意味着可以开采或创建的代币或硬币的数量存在生命周期上限。这使得它们出现通货紧缩，因为它们的价值由于稀缺性而往往会随着时间的推移而增加。以比特币为例，其固定供应量为 2100 万比特币。

Other cryptocurrencies have an unlimited supply, meaning that there is no limit on how many tokens or coins can be mined or created. This makes them inflationary, as their value tends to decrease over time due to oversupply. Ethereum, for example, has an unlimited supply of ETH, although it has a fixed annual issuance rate of 18 million ETH.

其他加密货币的供应量是无限的，这意味着可以开采或创建的代币或硬币的数量没有限制。这使得它们容易通货膨胀，因为由于供应过剩，它们的价值往往会随着时间的推移而下降。例如，以太坊的 ETH 供应量是无限的，尽管它的年发行量固定为 1800 万枚。

What are the advantages and disadvantages of tokens with unlimited supply? What are some of the largest and most popular tokens with unlimited supply? How can investors and users make informed decisions about these tokens? In this article, we will explore these questions and more.

无限供应的代币有哪些优点和缺点？有哪些最大、最受欢迎且供应无限的代币？投资者和用户如何对这些代币做出明智的决定？在本文中，我们将探讨这些问题以及更多问题。

The Pros and Cons of Tokens with Unlimited Supply

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Tokens with unlimited supply have both benefits and drawbacks, depending on their design, use case, and market conditions. Here are some of the main pros and cons of these tokens:

无限供应的代币既有优点也有缺点，具体取决于其设计、用例和市场条件。以下是这些代币的一些主要优点和缺点：

• Pro: Flexibility and adaptability. Tokens with unlimited supply can adjust their supply according to the demand and needs of the network. For example, Ethereum can increase its supply to incentivize miners and validators to secure the network, or to fund its development and innovation. This can also help prevent network congestion and high fees, as more tokens can be used for transactions.

优点：灵活性和适应性。供应量无限的代币可以根据网络的需求和需求调整其供应量。例如，以太坊可以增加其供应量，以激励矿工和验证者确保网络安全，或为其开发和创新提供资金。这还有助于防止网络拥塞和高额费用，因为可以使用更多代币进行交易。

• Pro: Stability and accessibility. Tokens with unlimited supply can also provide stability and accessibility for users and investors. For example, USD Coin (USDC) is a stablecoin that is backed by US dollars and has an unlimited supply. This means that users can always exchange USDC tokens for dollars at any time, and enjoy the benefits of a stable and widely accepted currency. Similarly, Dogecoin (DOGE) is a cryptocurrency that is based on a meme and has an unlimited supply. This means that users can easily acquire and use DOGE for fun and social purposes, without worrying about its price fluctuations.

优点：稳定性和可访问性。无限供应的代币还可以为用户和投资者提供稳定性和可访问性。例如，美元币（USDC）是一种以美元为支撑、供应量无限的稳定币。这意味着用户可以随时将 USDC 代币兑换成美元，并享受稳定且被广泛接受的货币带来的好处。同样，狗狗币（DOGE）是一种基于模因且供应无限的加密货币。这意味着用户可以轻松获取和使用 DOGE 来实现娱乐和社交目的，而无需担心其价格波动。

• Con: Dilution and devaluation. Tokens with unlimited supply can also suffer from dilution and devaluation, as more tokens enter the market and reduce their scarcity and demand. For example, Dai (DAI) is a decentralized stablecoin that is backed by collateral and has an unlimited supply. This means that users can create new DAI tokens by locking up their assets in smart contracts. However, this also means that the value of DAI can be affected by the fluctuations of the collateral assets, as well as the risk of undercollateralization and liquidation.

缺点：稀释和贬值。随着更多代币进入市场并减少其稀缺性和需求，无限供应的代币也可能遭受稀释和贬值。例如，Dai（DAI）是一种去中心化的稳定币，有抵押品支持，供应量无限。这意味着用户可以通过将资产锁定在智能合约中来创建新的 DAI 代币。然而，这也意味着 DAI 的价值可能会受到抵押资产波动以及抵押不足和清算风险的影响。

• Con: Inflation and uncertainty. Tokens with unlimited supply can also face inflation and uncertainty, as their supply growth rate and monetary policy are not predictable or transparent. For example, Ethereum does not have a clear long-term plan for its supply management, as it is undergoing a major transition from proof-of-work to proof-of-stake consensus mechanism. This means that investors and users do not know how the supply of ETH will change in the future, or how it will affect its value and security.

缺点：通货膨胀和不确定性。无限供应的代币也可能面临通货膨胀和不确定性，因为它们的供应增长率和货币政策不可预测或透明。例如，以太坊在供应管理方面没有明确的长期计划，因为它正在经历从工作量证明到权益证明共识机制的重大转变。这意味着投资者和用户不知道未来ETH的供应量将如何变化，或者将如何影响其价值和安全性。

The Top Tokens with Unlimited Supply

无限供应的顶级代币

Here are some of the largest and most popular tokens with unlimited supply:

以下是一些最大、最受欢迎且供应无限的代币：

• Ethereum (ETH). Ethereum is the second-largest cryptocurrency by market capitalization, after Bitcoin. It is also a platform for smart contracts and decentralized applications (DApps), which enable users to create and use various kinds of digital services on the blockchain. Ethereum has an unlimited supply of ETH, but it has a fixed annual issuance rate of 18 million ETH. However, this rate may change in the future, as Ethereum is transitioning from proof-of-work to proof-of-stake consensus mechanism, which will introduce new mechanisms such as burning and staking for ETH supply management.

以太坊（ETH）。以太坊是市值第二大的加密货币，仅次于比特币。它也是一个智能合约和去中心化应用程序（DApps）的平台，使用户能够在区块链上创建和使用各种数字服务。以太坊的 ETH 供应量无限，但每年发行量固定为 1800 万枚 ETH。然而，这个比率未来可能会发生变化，因为以太坊正在从工作证明共识机制过渡到股权证明共识机制，这将为 ETH 供应管理引入新的机制，例如销毁和质押。

• USD Coin (USDC). USD Coin is a stablecoin that is backed by US dollars and issued by Circle and Coinbase, two of the largest cryptocurrency companies in the world. USD Coin has an unlimited supply, as new USDC tokens can be minted and redeemed at any time, according to the demand and supply of the market. USD Coin aims to provide a stable, secure, and transparent alternative to fiat currencies, as well as a bridge between the traditional and the crypto economy.

美元硬币（USDC）。 USD Coin 是一种以美元为支撑的稳定币，由全球最大的两家加密货币公司 Circle 和 Coinbase 发行。 USD Coin 的供应量是无限的，因为新的 USDC 代币可以根据市场的需求和供应随时铸造和赎回。 USD Coin 旨在提供稳定、安全、透明的法定货币替代品，以及传统经济和加密经济之间的桥梁。

• Dogecoin (DOGE). Dogecoin is a cryptocurrency that is based on a meme and was created as a joke, but has gained popularity and support from celebrities like Elon Musk and Snoop Dogg. Dogecoin has an unlimited supply of DOGE, as it has no cap on its mining or creation. Dogecoin aims to be a fun and friendly currency that can be used for tipping, social media, and online communities.

狗狗币（DOGE）。狗狗币是一种基于模因的加密货币，最初是作为一个笑话而创建的，但它获得了埃隆·马斯克和史努比狗狗等名人的欢迎和支持。狗狗币的 DOGE 供应量是无限的，因为它的开采或创造没有上限。狗狗币旨在成为一种有趣且友好的货币，可用于小费、社交媒体和在线社区。

• Dai (DAI). Dai is a decentralized stablecoin that is backed by collateral and governed by a community of token holders. Dai has an unlimited supply, as new DAI tokens can be created by locking up various assets in smart contracts, such as ETH, USDC, or WBTC. Dai aims to provide a stable and resilient currency that can be used for global payments, savings, and lending.

戴（DAI）。 Dai 是一种去中心化的稳定币，由抵押品支持并由代币持有者社区管理。 Dai 的供应量是无限的，因为可以通过在智能合约中锁定各种资产（例如 ETH、USDC 或 WBTC）来创建新的 DAI 代币。 Dai 旨在提供一种稳定且有弹性的货币，可用于全球支付、储蓄和贷款。

The Bottom Line

底线

Tokens with unlimited supply are a diverse and dynamic category of cryptocurrencies that have different advantages and disadvantages, depending on their design, use case, and market conditions. They can offer flexibility, stability, and accessibility, but they can also face dilution, devaluation, inflation, and uncertainty. Investors and users should be aware of these factors and make informed decisions about these tokens.

无限供应的代币是一种多样化且动态的加密货币类别，根据其设计、用例和市场条件，它们具有不同的优点和缺点。它们可以提供灵活性、稳定性和可及性，但也可能面临稀释、贬值、通货膨胀和不确定性。投资者和用户应该了解这些因素，并对这些代币做出明智的决定。

无限供应代币：加密货币通货膨胀的隐患首先出现在 CryptoMesh 上。