以太坊减发提案引发关于质押激励和货币角色的争论

以太坊基金会（EF）研究人员建议减少 ETH 发行量，以抑制过度的质押激励。该提案建议将年度发行量限制在 0.4%，引发了社区成员的担忧，他们质疑其必要性以及 EF 对网络升级的影响。该提案旨在减少 Lido 等第三方质押平台的潜在主导地位，并通过增加 ETH 的稀缺性来提高 ETH 的价值。

Ethereum Issuance Reduction Proposal Sparks Controversy

以太坊减发提案引发争议

Proposed Changes Target Staker Incentives and Ether's Monetary Role

拟议的变更目标质押者激励措施和以太币的货币角色

Earlier this year, a proposal from researchers at the Ethereum Foundation (EF) ignited debate within the Ethereum community. The proposal suggested reducing the rate at which new Ether (ETH) tokens are issued, thereby diminishing incentives for new stakers and potentially hardening ether as a form of money.

今年早些时候，以太坊基金会（EF）研究人员的一项提案引发了以太坊社区内部的争论。该提案建议降低新以太币（ETH）代币的发行速度，从而减少对新质押者的激励，并可能强化以太币作为一种货币形式。

Rationale for Issuance Reduction

减少发行的理由

The researchers posited that the current level of stakers is sufficient to maintain the blockchain's security, and any further increase could lead to the dominance of third-party staking platforms like Lido. Additionally, they argued that reducing ETH issuance would lower inflation, making the cryptocurrency more attractive as a store of value.

研究人员认为，目前的质押者水平足以维持区块链的安全，任何进一步的增加都可能导致像 Lido 这样的第三方质押平台占据主导地位。此外，他们认为减少 ETH 发行量将降低通货膨胀，使加密货币作为价值储存手段更具吸引力。

Staker Yield Concerns

对质押者收益的担忧

The proposal has encountered resistance from some community members who question the need for such significant changes. Viktor Bunin, a protocol specialist at Coinbase Cloud, expressed skepticism, stating, "If it's not broke, don't fix it."

该提案遭到了一些社区成员的抵制，他们质疑是否需要进行如此重大的改变。 Coinbase Cloud 的协议专家 Viktor Bunin 表示怀疑，他表示：“如果它没有损坏，就不要修复它。”

A primary concern revolves around the potential decrease in ETH staking yields, estimated to be reduced by nearly a third. Staking is a crucial means of securing the Ethereum network, with participants depositing ETH in exchange for yield and the opportunity to participate in the network's operation.

主要担忧围绕 ETH 质押收益率的潜在下降，估计会下降近三分之一。质押是保护以太坊网络安全的重要手段，参与者存入 ETH 来换取收益和参与网络运营的机会。

Security Implications of Liquid Staking

流动性质押的安全影响

The researchers' proposal is driven by concerns that the proliferation of liquid staking services like Lido could undermine the network's security. These services allow users to stake their ETH without locking it up, enabling them to participate in other financial activities.

研究人员提出这一提议的原因是担心像 Lido 这样的流动质押服务的激增可能会破坏网络的安全。这些服务允许用户在不锁定 ETH 的情况下质押其 ETH，从而使他们能够参与其他金融活动。

The Ethereum Foundation researchers contend that the popularity of liquid staking tokens (LSTs), like Lido's stETH, could potentially replace ETH as the network's native currency, diminishing its value and weakening the security model.

以太坊基金会的研究人员认为，Lido 的 stETH 等流动性质押代币 (LST) 的流行可能会取代 ETH 成为网络的原生货币，从而降低其价值并削弱安全模型。

Ethereum Economic Model

以太坊经济模型

Some critics argue that the proposed changes aim to solve fundamental tradeoffs in the proof-of-stake consensus mechanism, a problem that cannot be resolved by simply reducing issuance. Paul Dylan-Ennis, a lecturer at the University College Dublin School of Business, expressed concern that the Ethereum Foundation exerts excessive influence over code upgrades.

一些批评者认为，拟议的改变旨在解决权益证明共识机制中的根本性权衡，这个问题不能通过简单地减少发行来解决。都柏林大学商学院讲师 Paul Dylan-Ennis 对以太坊基金会对代码升级施加过度影响表示担忧。

Ethereum Foundation's Role

以太坊基金会的角色

The Ethereum Foundation is a non-profit organization that supports the Ethereum ecosystem, including protocol development and ecosystem growth. Its executive board includes Vitalik Buterin, the influential co-founder of the Ethereum blockchain.

以太坊基金会是一个非营利组织，支持以太坊生态系统，包括协议开发和生态系统发展。其执行董事会包括以太坊区块链颇具影响力的联合创始人维塔利克·布特林(Vitalik Buterin)。

Response to Criticism

对批评的回应

Tim Beiko, protocol support lead at the Ethereum Foundation, defended the organization's role, arguing that the current debate is an example of the open and collaborative governance process within the Ethereum community.

以太坊基金会的协议支持负责人 Tim Beiko 为该组织的角色进行了辩护，他认为当前的辩论是以太坊社区内开放和协作治理流程的一个例子。

In response to concerns about the proposal's impact on the community, Ansgar Dietrichs, co-author of the proposal, acknowledged the need for broad community support and expressed a willingness to refine the proposal based on feedback.

为了回应对该提案对社区影响的担忧，该提案的共同作者 Ansgar Dietrichs 承认需要广泛的社区支持，并表示愿意根据反馈完善该提案。

Ongoing Debate

正在进行的辩论

The proposed changes to Ethereum's issuance rate have ignited a lively debate within the community, with varying perspectives on the potential implications for staker incentives, the network's security, and the broader Ethereum ecosystem. As the discussion continues, it will be crucial for community members to engage in constructive dialogue and work towards a consensus that balances the various concerns and ensures the long-term security and growth of the Ethereum network.

以太坊发行率的拟议变更在社区内引发了激烈的争论，对于对权益持有者激励、网络安全和更广泛的以太坊生态系统的潜在影响，人们有不同的看法。随着讨论的继续，社区成员进行建设性对话并努力达成共识以平衡各种担忧并确保以太坊网络的长期安全和增长至关重要。