以太坊（ETH）有望在今年实施两个重大升级，名为Pectra和Fusaka

但是，根据Binance于4月16日发布的一份研究报告，这些增强功能并不能完全解决对其令牌学的持续关注。

Two significant Ethereum (ETH) upgrades, Pectra and Fusaka, are set to be rolled out this year, but they do not fully address the persistent concerns regarding the blockchain's tokenomics, according to a research report from Binance.

根据Binance的一份研究报告，两个重大的以太坊（ETH）升级，Pectra和Fusaka将于今年推出，但它们并未完全解决对区块链的标记学的持续关注。

The upcoming upgrades promise improvements in data availability, expanded support for layer-2 chains, and enhancements to wallet functionalities. However, as the blockchain faces increasing pressure to attract and retain user interest, investors are becoming more apprehensive about the potential for value accrual, especially with some features appearing to prioritize layer-2 networks over Ethereum's own revenue generation.

即将进行的升级有望提高数据可用性，扩大对2层链的支持以及对钱包功能的增强。但是，随着区块链面临着吸引和保留用户兴趣的越来越大的压力，投资者对价值应计的潜力变得越来越担心，尤其是某些功能似乎优先考虑了第2层网络而不是以太坊自身的收入产生。

The Pectra upgrade, which is expected in May, will introduce additional "blobs" that enable layer-2 networks to submit more data to Ethereum, ultimately leading to lower transaction fees for users of these networks. However, this change could result in a decrease in Ethereum's income per transaction.

Pectra升级将在5月预计，将引入其他“斑点”，使第2层网络能够向以太坊提交更多数据，最终导致这些网络用户的交易费用较低。但是，这种变化可能导致以太坊每笔交易的收入减少。

"While this optimizes the efficiency of layer-2 networks, it could decrease throughput on Ethereum and lower the trading fee income generated by ETH," Binance researchers noted.

Binance研究人员指出：“尽管这优化了第2层网络的效率，但它可能会降低以太坊上的吞吐量，并降低ETH产生的交易费用收入。”

The upcoming upgrade will also see an increase in the validator caps from 32 ETH to 2,048 ETH and modifications to wallet capabilities to improve the user experience. Although these changes are technically significant, they do not appear to benefit ETH holders directly in terms of value capture.

即将进行的升级还将看到验证器上限从32 ETH增加到2,048 ETH，并修改了对钱包功能的修改，以改善用户体验。尽管这些变化在技术上是显着的，但它们似乎并没有直接使ETH持有人受益于价值捕获。

"The Pectra upgrade signals a technical step forward for Ethereum, but it does not address the pressing concerns of ETH holders seeking value and returns in the face of declining network activity and rising inflation," the researchers stated.

研究人员说：“ pectra升级了以太坊的技术一步，但它并没有解决ETH持有人寻求价值和回报的紧迫性问题，面对网络活动的下降和通货膨胀的不断增长。”

Later this year, the Fusaka upgrade will bring further enhancements with an emphasis on dark sharding and the developer experience. The introduction of the Ethereum Object Format aims to simplify the creation of smart contracts, potentially leading to fewer errors and increased security.

今年晚些时候，Fusaka升级将带来进一步的改进，重点是黑暗碎片和开发人员体验。以太坊对象格式的引入旨在简化智能合约的创建，可能导致错误和安全性提高。

"The Fusaka upgrade showcases Ethereum's commitment to becoming the foundational infrastructure for the future of Web3, aiming to place itself at the heart of a broader ecosystem," the researchers explained.

研究人员解释说：“ Fusaka升级展示了以太坊致力于成为Web3未来的基础基础设施的承诺，旨在将自己置于更广泛的生态系统的核心。”

"But as Ethereum faces growing competition and seeks to maintain its dominance, it is crucial to address the concerns of its own token holders and ensure that the value proposition of ETH continues to be attractive."

“但是，随着以太坊面临越来越多的竞争并试图保持其主导地位，至关重要的是要解决自己的代币持有人的关注，并确保ETH的价值主张继续具有吸引力。”

Currently trading at $1,567, Ethereum has seen a decline of over 60% from its December peak of $4,106. A drop in network activity, largely attributed to the rise of layer-2 solutions, has led to decreased trading fee generation. Consequently, ETH is becoming increasingly inflationary, a factor that is striking fear among investors.

以太坊目前的交易价格为1,567美元，从12月的峰值开始下降了60％以上，为4,106美元。网络活动的下降主要归因于第二层解决方案的兴起，导致交易费用下降。因此，ETH正在变得越来越通货膨胀，这是投资者中令人恐惧的因素。