Coinbase 的鏈上轉變：拓荒者還是去中心化之謎？

Coinbase 決定將客戶和企業 USDC 餘額轉移到 Base 區塊鏈上。此舉將在結算速度和節省成本方面帶來好處。然而，人們仍然對 Base 的去中心化程度感到擔憂，因為它目前由 Coinbase 作為單一排序器運作。

Is Coinbase's On-Chain Move a Trailblazer or a Decentralization Dilemma?

Coinbase 的鏈上舉措是開拓者還是去中心化困境？

Coinbase has announced its plans to migrate customer and corporate USDC holdings to its on-chain solution, Base, in a bid to enhance settlement speed and reduce costs. But this strategic shift raises questions about decentralization and the future of financial institutions.

Coinbase 宣布計劃將客戶和企業持有的 USDC 遷移到其鏈上解決方案 Base，以提高結算速度並降低成本。但這種策略轉變引發了有關權力下放和金融機構未來的問題。

Base's Rapid Ascent

基地快速上升

Base, an Ethereum L2 solution closely associated with Coinbase, has experienced a surge in Total Value Locked (TVL), growing from $500 million to $1 billion in a matter of weeks. This remarkable growth has sparked speculation about its potential to shape the on-chain financial landscape.

Base 是與 Coinbase 密切相關的以太坊 L2 解決方案，其鎖定總價值 (TVL) 激增，在幾週內從 5 億美元增長到 10 億美元。這種顯著的成長引發了人們對其塑造鏈上金融格局潛力的猜測。

The Decentralization Debate

去中心化爭論

However, the move has also drawn criticism from those who question Base's true decentralization. Critics point to the fact that Base employs a single sequencer, which is currently controlled by Coinbase. This centralized control raises concerns about the potential for censorship and manipulation.

然而，此舉也招致了那些質疑 Base 真正去中心化的人的批評。批評者指出，Base 使用單一定序器，目前由 Coinbase 控制。這種集中控制引發了人們對審查和操縱可能性的擔憂。

Data from L2Beat confirms these concerns, indicating that Base remains in Stage 0 of its planned decentralization roadmap, with no proof system in place and permissioned operators holding the power to censor user withdrawals. While Base's roadmap suggests a gradual transition to greater decentralization in the coming years, some industry participants remain skeptical.

L2Beat 的數據證實了這些擔憂，表明 Base 仍處於其計劃的去中心化路線圖的第 0 階段，沒有適當的證明系統，並且獲得許可的運營商擁有審查用戶提款的權力。儘管 Base 的路線圖顯示未來幾年將逐步過渡到更大程度的去中心化，但一些行業參與者仍然持懷疑態度。

Coinbase's Ambitious Vision

Coinbase 的雄心勃勃的願景

Despite these concerns, Coinbase maintains its vision of a fully on-chain financial system, with Vice President Max Branzburg confidently stating that "eventually, all financial institutions will move their operations on-chain." This ambitious goal reflects the company's belief in the transformative power of blockchain technology.

儘管存在這些擔憂，Coinbase 仍然堅持其完全鏈上金融系統的願景，副總裁 Max Branzburg 自信地表示，“最終，所有金融機構都將把業務轉移到鏈上。”這一雄心勃勃的目標反映了該公司對區塊鏈技術變革力量的信念。

The Verdict: A Promising Start, but Questions Linger

結論：一個有希望的開始，但問題依然存在

Coinbase's decision to embrace an on-chain model for customer and corporate USDC accounts is a significant step towards a more decentralized financial system. The speed and cost benefits are undeniable, but concerns about Base's current lack of decentralization remain. It remains to be seen whether Coinbase can navigate these challenges and deliver on its vision of a truly decentralized on-chain financial future.

Coinbase 決定為客戶和企業 USDC 帳戶採用鏈上模型，這是邁向更去中心化的金融體系的重要一步。速度和成本優勢是不可否認的，但對 Base 目前缺乏去中心化的擔憂仍然存在。 Coinbase 能否應對這些挑戰並實現其真正去中心化的鏈上金融未來的願景還有待觀察。