ETH vs Solana:以太坊独有的优势和未来战略

币圈资讯 阅读:42 2024-04-22 11:15:51 评论:0
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作者:Qiao Wang 来源:medium 翻译:善欧巴,比特币买卖交易网

最近,不少人对以太坊在加密生态中的定位产生了怀疑。比特币被视为 "数字黄金" 的价值储存链,Solana 则以最快、最便宜、无桥梁的智能合约平台著称。这让一些肤浅的观察者认为以太坊尴尬地陷在了中间。

然而,以太坊目前拥有经久不衰、无法复制的优势。它同时是:

  • 最具 Lindy 效应的智能合约链 (Lindy 效应:随着时间的推移,事物变得更有价值或更可靠)

  • 唯一跨越监管鸿沟的智能合约链

  • 唯一与 Coinbase 保持一致的链

  • 唯一拥有 "收益" 的链

这些优势使得以太坊比竞争对手更具备被机构大量采用的条件。社区需要做的,就是专注于这些优势,停止打防守战。

Lindy效应

以太坊是第一个功能完备的智能合约链,从白皮书发布至今,已走过近十年,历经两轮完整的加密牛市和熊市,即将进入第三轮。它从未因技术问题宕机,拥有近十年的成熟工具和安全经验,通过反复的考验和对开源文化的拥抱,大多数潜在的智能合约漏洞攻击都被识别和修复。更重要的是,以太坊的累计总锁仓价值(TVL)达到约 40 万亿美元日,是 Solana 的 40 倍。虽然历史上曾发生过 TheDAO 攻击事件,但那是 7 年前的事了,如今的新人大多并不了解。

综上所述,将机构资金投入以太坊生态系统的风险远低于 Solana。或许你会反驳说,Solana 的高回报可以弥补风险,但请记住,你并不是需要担负职业生涯风险的高盛基金经理。他们追求的是数千万美元的年度奖金,而你只想通过 WIF 赚个 100 万美元。对于传统金融机构来说,加密货币本身就已经足够冒险了,机构内部的倡导者们可能更希望将因意外共识机制或合约漏洞而被解雇的风险降到最低。

监管鸿沟

以太坊在机构市场上拥有一个巨大的中期优势:芝加哥商品交易所 (CME) 列出了 ETH 期货合约。比特币是 CME 上市 的唯一其他加密资产。如今,这一合约已有近 3 年的历史,已经给了监管机构,尤其是美国证券交易委员会 (SEC),一定程度的对 ETH 交易的舒适感,而这种舒适感对于 SOL 来说并不存在。

此外,在针对 Coinbase 的诉讼中,SEC 将 SOL 定性为证券,这在案件解决之前为 SOL 蒙上了一层厚厚的监管阴影(可能需要数年时间)。虽然 SEC 没有正式宣布 ETH 不是证券,但大多数律师都同意,在比特币之后,ETH 最有可能被视为非证券。所有这些都关系到一般的舒适度,同时也关系到 2024 年批准 ETH 现货 ETF 的可能性,这将大大增加机构资金的流入。

Coinbase

Coinbase 对以太坊的青睐通过 Base rollup 项目可见一斑。抛开技术层面,Base arguably 是整个加密领域最引人注目的链条之一。超过 1 亿来自美国合规交易所的 KYC 用户可以直接参与 Base 生态,这意味着 Coinbase 不仅是庞大的以太坊分发渠道,其 1 亿用户的 KYC 层也让 Base,乃至其背后的以太坊,成为了 "合规 DeFi" 的完美家园。

合规 DeFi 的一个典型例子是真实世界资产 (RWA) 代币化。为了将传统资产上链,大多数机构资产发行方需要 KYC,希望与像 Coinbase 这样的可信赖合作伙伴合作,并使用一个经时间考验的链条。许多加密理想主义者对 RWA 仍然过敏,但如果我告诉你,新兴经济体的数亿人不仅想要美元稳定币,还想要数万亿美元的美国国债、股票和房地产呢?诚然,美元已经比当地货币优越很多,但额外的 5-10% 年回报仍然是改变游戏规则的因素。

实际收益率

2021 年 8 月 EIP1559 实施,2022 年 9 月 "合并" 完成后,以太坊现在拥有 "实际收益率"。具体来说,质押 ETH 的用户会获得用 ETH 计价的回报,一部分来自新发行的 ETH,另一部分来自用户为在以太坊网络上处理交易支付的费用。由于费用通常超过新发行的供应,以太坊的收益率高于其通货膨胀率。这就是 "真实收益" 的定义,也是以太坊在加密世界独有的优势。

机构热衷于收益,尤其是 "真实收益"。不难想象这样一个场景:当人们对加密货币的风险偏好略微抬头时,一些机构资金管理者会意识到,以太坊既可以视为科技成长型风险资产,又可以视为 "真实收益" 来源。仅需少数机构参与即可启动趋势。

呼吁采取行动

以太坊社区需要团结起来,围绕清晰的市场战略行动了。“再质押”、“4844”、“账户抽象”和“数据可用性”这些术语并不是市场战略,充其量只是产品路线图,最坏的情况是技术黑话,只会让终端用户一头雾水。如果你还没有在这波 Degen 狂热中注意到,用户实际上很少关心以太坊播客和协议开发者热衷的东西。

Degen 用户在乎的是费用、速度和避免桥接。在这方面,以太坊短期内无法赶上 Solana。另一方面,机构用户在乎的是 Lindy 效应、监管舒适度、像 Coinbase 这样的可信赖合作伙伴以及真实收益,而这些都是目前只有以太坊具备的优势。因此,成为事实上的机构友好型智能合约链是一个高度可行的市场战略,对我来说,也是迄今为止最明显的战略。

现在我们需要的是,让那些以太坊影响力人物停止尴尬地辩护,与 Solana 和比特币竞争。不要再否认 Solana 为 Degen 提供了更好的用户体验,也不要再纠结于 Solana 技术和经济上那些微不足道且可以修复的缺陷,更不要停止那个愚蠢的 “超声波货币” 叙述,只会让机构不再认真对待你们。

相反,应该专注于以太坊目前独有的不可复制的优势,实现只有以太坊能够实现的愿景。在真正为时已晚之前,采取行动吧!


Recently, many people have doubts about the position of Ethereum in the encryption ecology. Bitcoin is regarded as the value storage chain of digital gold, and it is known as the fastest, cheapest and bridgeless intelligent contract platform, which makes some superficial observers think that Ethereum is embarrassed in the middle. However, Ethereum currently has an enduring advantage that cannot be copied. At the same time, it is the most effective intelligent contract chain effect, and things become more valuable or more with the passage of time. Reliable, the only intelligent contract chain that spans the regulatory gap, the only chain that is consistent and the only chain that has benefits. These advantages make Ethereum more qualified for being widely adopted by institutions than its competitors. What the community needs to do is to focus on these advantages and stop playing defensive effects. Ethereum is the first fully functional intelligent contract chain. It has gone through nearly ten years since the publication of the white paper, and it has gone through two complete rounds of encrypted bull market and bear market, and it is about to enter the third round. It has never been down due to technical problems for nearly ten years. Mature tools and security experience have been repeatedly tested and embraced by open source culture, and most potential smart contract vulnerability attacks have been identified and repaired. More importantly, the accumulated total warehouse value of Ethereum has reached about one trillion US dollars, which is twice as high as the daily value. Although there have been attacks in history, it was years ago. Most newcomers today don't understand that the risk of investing institutional funds in Ethereum ecosystem is far lower than that mentioned above. Perhaps you will retort that high returns can make up for the risks, but please remember you. It's not Goldman Sachs fund managers who need to take career risks. They are looking for tens of millions of dollars in annual bonuses, and you just want to earn 10 thousand dollars. For traditional financial institutions, cryptocurrency itself is risky enough. Advocates in institutions may prefer to minimize the risk of dismissal due to unexpected consensus mechanism or contract loopholes. Ethereum has a huge medium-term advantage in the institutional market. The Chicago Mercantile Exchange lists the futures contract bitcoin. It is the only other encrypted asset listed. Now this contract has a history of recent years, which has given regulators, especially the US Securities and Exchange Commission, a certain degree of comfort to the transaction, which does not exist for me. In addition, the lawsuit against it will be classified as securities, which will cast a thick regulatory shadow before the case is resolved. Although it may take several years, although it is not officially declared as securities, most lawyers agree that it is most likely to be regarded as non-certified after Bitcoin. All these are related to the general comfort and the possibility of approving the spot in, which will greatly increase the inflow of institutional funds and the favor of Ethereum. Aside from the technical level, it is one of the most striking chains in the whole encryption field. More than 100 million users from the American Compliance Exchange can directly participate in the ecology, which means that not only the huge distribution channel of Ethereum, but also the layer of its 100 million users makes Ethereum a perfect home for compliance. A typical example is the tokenization of real-world assets. In order to chain traditional assets, most institutional asset issuers need to hope to cooperate with trustworthy partners like this and use a time-tested chain. Many encryption idealists are still allergic to it, but what if I told you that hundreds of millions of people in emerging economies not only want the dollar to stabilize the currency, but also want trillions of dollars of US Treasury bonds, stocks and real estate? Of course, the dollar is much superior to the local currency, but the extra annual return is still changed. The factors that change the rules of the game: the actual rate of return. After the implementation of the merger in September, Ethereum now has the actual rate of return. Specifically, the pledged users will get the return with pricing. Part of it comes from the newly issued and the other part comes from the fees paid by the users for handling transactions on the Ethereum network. Because the fees usually exceed the newly issued supply, the rate of return of Ethereum is higher than its inflation rate. This is the definition of real income and the unique advantage of Ethereum in the encryption world. Institutions are keen on income, especially. It is not difficult to imagine such a scene. When people's risk preference for cryptocurrency rises slightly, some institutional fund managers will realize that Ethereum can be regarded as both a risk asset for technological growth and a real source of income. Only a few institutions need to participate to start the trend and call for action. Ethereum community needs to unite and act around a clear market strategy. These terms are not market strategy, but at best, it is just a product roadmap. In the worst case, technical slang will only confuse end users. If you haven't noticed in this craze, users actually care little about what Ethereum podcasts and protocol developers are keen on. What users care about is the cost, speed and avoiding bridging. In this respect, Ethereum can't catch up in the short term. On the other hand, institutional users care about the effect, supervision, comfort, reliable partners like this and real benefits, which are the advantages that only Ethereum has at present, so it has become a fact. Institution-friendly smart contract chain is a highly feasible market strategy for me, and it is also the most obvious strategy so far. Now what we need is to make those influential people in Ethereum stop defending awkwardly and competing with Bitcoin, stop denying that it has provided a better user experience, stop obsessing over those trivial and repairable defects in technology and economy, and stop that stupid ultrasonic currency narrative, which will only make institutions stop taking you seriously. Instead, we should focus on the unique unrepeatable advantages of Ethereum and realize the vision that only Ethereum can achieve. Take action before it is really too late. 比特币今日价格行情网_okx交易所app_永续合约_比特币怎么买卖交易_虚拟币交易所平台

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