以太坊转型引发对其“超声波货币”地位的担忧

以太坊最近的 Dencun 升级由于费用减少和发行量增加而引发了关于其“超声波货币”地位的争论。 CryptoQuant 的报告表明，EIP-4844 的引入和第 2 层解决方案的主导地位减少了网络对减少供应的费用燃烧的依赖。此外，即将推出的 Pectra 硬分叉也面临着 EIP-3074 的争议，该协议旨在加强钱包管理，但引发了对潜在安全风险的担忧。尽管存在这些问题，以太坊社区还是建议在 Pectra 更新中通过 EIP-7251 提高 ETH 质押限额。

Ethereum's Transformation and Its Implications for "Ultrasound Money"

以太坊的变革及其对“超声波货币”的影响

Introduction

介绍

Ethereum, the world's second-largest cryptocurrency, has undergone significant upgrades in recent months, including the Dencun upgrade in March 2023. While these upgrades have aimed to enhance the network's scalability and efficiency, they have also raised concerns about the impact on Ethereum's long-standing reputation as "ultrasound money."

全球第二大加密货币以太坊近几个月经历了重大升级，其中包括 2023 年 3 月的 Dencun 升级。虽然这些升级旨在增强网络的可扩展性和效率，但也引发了人们对以太坊长期运行受到影响的担忧。享有“超声波钱”的美誉。

Defining "Ultrasound Money"

定义“超声波货币”

"Ultrasound money" is a term used to describe an asset with stable purchasing power and a decreasing total supply. This characteristic leads to deflationary pressure, as the scarcity of the asset increases over time. Bitcoin, with its capped supply of 21 million coins, is a classic example of ultrasound money.

“超声波货币”是一个术语，用于描述购买力稳定且总供应量递减的资产。随着资产的稀缺性随着时间的推移而增加，这种特征会导致通货紧缩压力。比特币的供应量上限为 2100 万枚，是超声波货币的典型例子。

Ethereum's Shift from "Ultrasound Money"

以太坊从“超声波货币”的转变

Analysts at CryptoQuant have observed a notable shift in Ethereum's monetary characteristics following the Dencun upgrade. Data from ultrasound.money shows that the global ETH supply has increased by nearly 35,000 ETH over the past 30 days, valued at approximately $106 million. This increase contradicts Ethereum's previous deflationary trend.

CryptoQuant 的分析师观察到，在 Dencun 升级之后，以太坊的货币特征发生了显着变化。 Ultrasound.money 的数据显示，过去 30 天内全球 ETH 供应量增加了近 35,000 ETH，价值约 1.06 亿美元。这一增长与以太坊之前的通缩趋势相矛盾。

The primary reason for this inflationary trend is the dominance of layer-2 solutions on the Ethereum network. Layer-2 solutions, such as Polygon and Optimism, allow transactions to be processed off-chain, reducing congestion and lowering gas fees on the main Ethereum blockchain.

这种通货膨胀趋势的主要原因是以太坊网络上第二层解决方案的主导地位。 Polygon 和 Optimism 等 Layer-2 解决方案允许在链外处理交易，从而减少以太坊主区块链上的拥塞并降低 Gas 费用。

The Impact of EIP-4844

EIP-4844 的影响

The Dencun upgrade introduced EIP-4844, a proposal that significantly reduces layer-2 transaction fees by creating a new block structure called "blobs." This feature has led to a steep decline in gas fees on layer-2 networks, further reducing the reliance on network activity for fee burning.

Dencun 升级引入了 EIP-4844，该提案通过创建名为“blob”的新区块结构来显着降低第 2 层交易费用。这一功能导致第二层网络的 Gas 费用急剧下降，进一步减少了对网络活动燃烧费用的依赖。

Concerns Over Ethereum's Deflationary Trend

对以太坊通货紧缩趋势的担忧

Prior to the Dencun upgrade, high network activity resulted in significant ETH burning, limiting the growth of the token supply. However, the introduction of EIP-4844 has weakened the network's reliance on transaction volume for fee burning. This has raised concerns about the sustainability of Ethereum's deflationary trend.

在 Dencun 升级之前，高网络活动导致 ETH 大量燃烧，限制了代币供应的增长。然而，EIP-4844的引入削弱了网络对交易量燃烧费用的依赖。这引发了人们对以太坊通缩趋势可持续性的担忧。

Ethereum's Pectra Upgrade and Controversies

以太坊Pectra升级及争议

Ethereum is preparing for its next major upgrade, the Pectra hard fork. However, the upgrade has been met with controversy surrounding EIP-3074, a proposal designed to enhance wallet management and transaction security.

以太坊正在为其下一次重大升级——Pectra 硬分叉做准备。然而，此次升级引发了围绕 EIP-3074 的争议，该提案旨在增强钱包管理和交易安全性。

Concerns Regarding EIP-3074

关于 EIP-3074 的担忧

EIP-3074 introduces the Invoker stage, responsible for processing and packaging transaction authorizations. Critics have raised concerns about potential vulnerabilities in this stage, arguing that malicious actors could exploit them to gain unauthorized access to funds.

EIP-3074引入了Invoker阶段，负责处理和打包交易授权。批评者对这一阶段的潜在漏洞表示担忧，认为恶意行为者可能会利用它们来获得未经授权的资金访问。

Community Feedback and Response

社区反馈和回应

Despite these criticisms, the Ethereum developer team has decided to include EIP-3074 in the upcoming Pectra hard fork. The community has also proposed the inclusion of EIP-7251 in the same update, aiming to increase the ETH staking limit and streamline the validator setup process.

尽管有这些批评，以太坊开发团队还是决定将 EIP-3074 包含在即将推出的 Pectra 硬分叉中。社区还提议在同一更新中包含 EIP-7251，旨在提高 ETH 质押限额并简化验证器设置流程。

Conclusion

结论

Ethereum's recent upgrades have sparked ongoing debates about the network's monetary characteristics and the future of "ultrasound money." While the Dencun upgrade has improved scalability, it has also raised concerns about the inflationary trend it has introduced. The upcoming Pectra hard fork and the controversies surrounding EIP-3074 further highlight the challenges and complexities facing Ethereum as it navigates its path toward a more scalable and secure future.

以太坊最近的升级引发了有关该网络货币特征和“超声波货币”未来的持续争论。尽管Dencun升级提高了可扩展性，但也引发了人们对其引入的通胀趋势的担忧。即将推出的 Pectra 硬分叉以及围绕 EIP-3074 的争议进一步凸显了以太坊在走向更具可扩展性和安全性的未来之路时所面临的挑战和复杂性。