以太坊的区块链富矿：深入挖掘加密货币巨头的盈利能力

由于交易费用和 ETH 的销毁，以太坊的区块链盈利能力在 2024 年第一季度飙升，达到 3.69 亿美元，这使现有持有者受益。 Dencun 升级显着降低了交易成本，带动收入增加 33 亿美元。然而，市场调整导致近期收入下降，过去 30 天下降了 52%，这表明更广泛的市场动态和投资者兴趣下降的潜在影响。

Ethereum's Lucrative Blockchain: Unveiling the Secrets of Its Profitability

以太坊利润丰厚的区块链：揭开其盈利能力的秘密

A Surge in Revenue and Profitability

收入和盈利能力激增

Ethereum (ETH), the pioneering cryptocurrency platform, has taken the financial world by storm in 2024, not only experiencing a remarkable surge in price but also generating substantial profits through its underlying blockchain technology. This unexpected profitability has sparked curiosity and raised questions about the mechanisms that drive revenue within a blockchain system.

以太坊（ETH）作为开创性的加密货币平台，在2024年席卷了金融界，不仅价格大幅上涨，而且通过其底层区块链技术创造了可观的利润。这种意想不到的盈利能力引发了人们的好奇心，并引发了人们对区块链系统内推动收入的机制的质疑。

Transaction Fees: A Vital Source of Income

交易费用：重要的收入来源

A key pillar of Ethereum's business model lies in the collection of transaction fees. Whenever users interact with applications built on the Ethereum blockchain, they must pay fees in the form of ETH. These fees serve as a significant source of revenue for the network.

以太坊商业模式的一个关键支柱在于交易费用的收取。每当用户与构建在以太坊区块链上的应用程序进行交互时，他们都必须以 ETH 的形式支付费用。这些费用是网络的重要收入来源。

ETH Buybacks: Enhancing Value for Holders

ETH 回购：增加持有者的价值

Once transaction fees are paid, a portion of the collected ETH undergoes a process known as "ETH buyback." This involves permanently removing those tokens from circulation, effectively reducing the supply of ETH in the market. This process benefits existing ETH holders, as the reduced supply increases the scarcity and value of the remaining tokens. The daily burning of ETH contributes to the overall economic benefit for Ethereum holders.

一旦支付了交易费用，收集到的 ETH 的一部分就会经历一个称为“ETH 回购”的过程。这涉及将这些代币从流通中永久移除，从而有效减少市场上 ETH 的供应。这一过程有利于现有的 ETH 持有者，因为供应量的减少增加了剩余代币的稀缺性和价值。 ETH 的每日销毁有助于以太坊持有者的整体经济利益。

Validator Rewards: Incentivizing Network Security

验证者奖励：激励网络安全

While ETH buybacks reduce the supply, Ethereum also issues new ETH tokens as rewards to network validators. These rewards compensate validators for their contributions to securing and maintaining the blockchain's integrity. These rewards, which are akin to traditional stock-based compensation, incentivize validators to uphold the network's security. However, it's important to note that the issuance of new ETH tokens dilutes the holdings of existing ETH holders.

虽然 ETH 回购减少了供应，但以太坊还发行新的 ETH 代币作为对网络验证者的奖励。这些奖励是对验证者对保护和维护区块链完整性所做贡献的补偿。这些奖励类似于传统的基于股票的薪酬，激励验证者维护网络的安全。然而，值得注意的是，新 ETH 代币的发行会稀释现有 ETH 持有者的持有量。

Daily Earnings: Determining Profitability

每日收入：确定盈利能力

To calculate Ethereum's daily profitability, analysts at Token Terminal, an on-chain data platform, subtract the daily USD value of newly minted ETH (expenses) from the daily USD value of burned ETH (revenue). This calculation reveals the net earnings accruing to existing ETH holders, essentially the owners of the Ethereum blockchain.

为了计算以太坊的每日盈利能力，链上数据平台 Token Terminal 的分析师从每天销毁的 ETH 的美元价值（收入）中减去新铸造的 ETH 的每日美元价值（费用）。该计算揭示了现有 ETH 持有者（本质上是以太坊区块链的所有者）应计的净收益。

Reduced Transaction Costs: A Growth Driver

降低交易成本：增长动力

Beyond its revenue model, Ethereum has implemented several upgrades, including the Dencun upgrade in late Q1 2024. This upgrade introduced a novel data storage system called blobs, significantly reducing network congestion and slashing transaction costs on Layer 2 networks like Arbitrum (ABR), Polygon (MATIC), and Coinbase's Base.

除了其收入模式之外，以太坊还实施了多项升级，包括 2024 年第一季度末的 Dencun 升级。此次升级引入了一种名为 blob 的新颖数据存储系统，显着减少了网络拥塞并大幅削减了 Arbitrum (ABR)、Polygon 等第 2 层网络的交易成本(MATIC) 和 Coinbase 的 Base。

The implementation of these upgrades has had a profound impact on Ethereum's revenue. According to Token Terminal data, the blockchain has witnessed an impressive 18% annualized revenue growth, amounting to approximately $3.3 billion. These revenue gains can be attributed to the reduced transaction costs, making Ethereum a more compelling platform for users and developers.

这些升级的实施对以太坊的收入产生了深远的影响。根据 Token Terminal 数据，区块链年化收入增长高达 18%，达到约 33 亿美元。这些收入增长可归因于交易成本的降低，使以太坊成为对用户和开发人员更具吸引力的平台。

Market Dynamics and Revenue Fluctuations

市场动态和收入波动

Despite the positive revenue growth, it's crucial to acknowledge the influence of market dynamics and investor sentiment on Ethereum's profitability. In the second quarter of 2024, the broader market correction and reduced investor interest have caused Ethereum's revenue to decline by over 52% in the past 30 days.

尽管收入出现积极增长，但承认市场动态和投资者情绪对以太坊盈利能力的影响至关重要。 2024年第二季度，大盘调整和投资者兴趣下降导致以太坊收入在过去30天内下降了52%以上。

These fluctuations underscore the impact of market conditions on blockchain revenue. However, Ethereum's underlying revenue model remains robust, and its long-term profitability prospects are subject to the dynamics of the cryptocurrency market.

这些波动凸显了市场状况对区块链收入的影响。然而，以太坊的基础收入模式仍然强劲，其长期盈利前景取决于加密货币市场的动态。

Ethereum's Market Position

以太坊的市场地位

As of today, Ethereum's market capitalization (fully diluted) stands at $358.47 billion, representing a 15.2% decrease over the past 30 days. Similarly, the circulating market capitalization has declined by 15.2% to the same value. Additionally, token trading volume over the past 30 days has fallen by 18.6%, totaling $586.14 billion.

截至今日，以太坊市值（完全稀释后）为 3584.7 亿美元，过去 30 天下跌 15.2%。同样，流通市值也下降了15.2%至相同值。此外，过去 30 天的代币交易量下降了 18.6%，总计 5861.4 亿美元。

ETH is currently trading at $3,042, a 0.4% increase in the last 24 hours. It remains to be seen whether the ongoing market correction and the potential return of trading volume will have a similar impact on Ethereum's profitability in the coming quarters.

ETH 目前交易价格为 3,042 美元，过去 24 小时内上涨 0.4%。持续的市场调整和交易量的潜在回报是否会对以太坊未来几个季度的盈利能力产生类似的影响，还有待观察。