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大家好。
Hello, everyone.
欢迎来到《Daily Gwei Refuel》的又一期节目，在这里你们可以获取以太坊生态系统的最新资讯。
Welcome to another episode of Daily Gwei Refuel, where you cap the latest news in the Ethereum ecosystem.
我是你们的主持人伊恩。
I'm your host, Ian.
今天是2026年3月16日，星期二，由亨特为大家带来。
This is Hunter on Tuesday 03/16/2026.
好了，各位。
Alright, everyone.
我们开始吧。
Let's get into it.
很抱歉上周没有更新一期节目。
So apologies for not doing an episode last week.
其实我上一期Refuel时忘记说了，上周我不做节目是因为我去悉尼参加几个与加密货币相关的活动。
I actually forgot to say on the last Refuel that I did that I wouldn't be doing an episode last week because I was traveling to Sydney for a couple of crypto related events.
所以，是的，这就是上周没有更新的原因。
So, yeah, that's why there wasn't an episode, last week.
但当然，我今天回来了。
But, of course, I'm back today.
实际上有很多内容要讲。
Lot to get through actually.
我的意思是，确实发生了一些风波，我想这在加密生态系统中是常态，但这次又牵扯到以太坊基金会。
I mean, there's been a bit of drama, I guess, and that's kind of part of the course when you're in the crypto ecosystem, of course, but it is about the Ethereum foundation again.
我认为，之所以会出现这些风波，可能我之前在Refuel里提过，但关键在于，现在有很多以太坊的竞争对手，它们热衷于渲染以太坊基金会处处做错、把以太坊引向错误方向，声称自己才该引领方向等等。
Now the reason why, I guess, like, this drama exists, I think, like, I I may maybe I've mentioned this on the Refuel before, but I think getting at the heart of it is that there are a lot of competitors out there, a lot of competitors to Ethereum out there, and they thrive on making out as if, like, the Ethereum foundation is doing everything wrong, and they're guiding Ethereum on the wrong path, and they should do this and should do that and so on and so forth.
而另一方面，也有很多人想把自己的愿景强加给以太坊，强加给以太坊基金会。
And on the other side of the same kind of coin, there are a lot of people who wanna imprint their own vision of what they think Ethereum should be, what they think the Ethereum foundation should be.
一旦他们的想法没被采纳，他们就会表现得像一个心怀不满的前员工，或者以太坊生态中某个项目的前成员，又或者像个孩子一样。
And when they don't get their way, they tend to act like a disgruntled kind of ex employee of the Ethereum foundation or of someone, you know, some project in the Ethereum ecosystem, or just like a child.
我看到的很多关于此事的语言和行为，都非常不成熟。
It's very immature, a lot of the language and behavior that I'm seeing from people around this.
而且真的感觉，是的，如果他们没如愿，就会突然发脾气，崩溃，然后大吵大闹。
And it really does feel like, yeah, if they don't get their way, they just kinda lash out, they crash out, and they have a suk about it.
他们会为此哭闹。
They have a cry about it.
所以我今天提起这个，是因为以太坊基金会——基金会董事会发布了他们所谓的以太坊基金会（EF）使命宣言，几天前刚发布，现在还很新鲜。
So the reason why I'm bringing this up today is because Ethereum Foundation, well, the foundation's board released what they're calling the Ethereum foundation or EF mandate, and they released this, was it a couple of days ago now, so it's still pretty fresh here.
本质上，这份使命明确说明了EF未来将聚焦的方向。
And, essentially, the mandate is clearly stating what the EF is focusing on going forward.
他们说，是的，用他们自己的话来说，EF将首要致力于打造一个抗审查、开源、私密且安全的以太坊。
And they say, yeah, these are their own words, the EF will above all else remain focused on an Ethereum that is censorship resistant, open source, private, and secure.
他们还用一个简洁的缩写词CROPS来概括这些原则。
And they have a nice little acronym here called crops for this.
同时，为了实现用户自我主权、抵御剥削，并提供无缝的用户体验。
And then in the service of user self sovereignty, resistant to extraction, and with seamless UX.
接着他们继续表示，这些条件正是让以太坊值得建设、使用和捍卫的原因。
Then they continue and say, these are conditions that make Ethereum worth building, using, and defending.
现在他们发布了一篇博客文章和一系列推文。
Now they have a blog post here and and a tweet thread.
如果你还没看过，可以去读一读。
You can go give this a read if you haven't yet.
这篇内容挺长的，我觉得。
It's quite, I guess, like lengthy.
博客文章本身不长，但那份真正的章程PDF其实相当长。
Not the blog post itself, but the actual mandate, like the PDF is actually quite lengthy.
有多长？
Like, it's what?
38页左右。
38 pages, worth.
是的。
Yeah.
而且里面还有很多图表，有些人可能会对这些图表感到不爽，但说实话，我超喜欢这种东西。
I mean, a lot of graphics as well, and people will kinda rub the wrong way about these graphics, but, like, hey, I I love stuff like this.
你知道吧？
You know?
这有点好笑。
It's kinda funny.
不管以太坊做什么，不管是无限花园之类的东西，还是其他类型的图形内容，总有人抱怨。
Like, no matter what Ethereum tends to do, it's like if it's infinite garden stuff or if it's some some other kind of, graphic stuff, like, there's always someone complaining.
我的意思是，这在该生态系统中几乎是常态：无论以太坊做什么，无论以太坊基金会做什么，总会有人抱怨。
I mean, this is kinda, again, part of the course in this ecosystem is that no matter what Ethereum does, no matter what the EF does, someone's gonna complain.
你知道的，这本来就是常态。
And, you know, that's just just kind of the way it is.
但如果你想读完整版，是可以的。
But if you wanna read the whole thing, can.
我会在下面的YouTube描述里附上链接。
I'll link it in the YouTube description below.
但我的观点不会聚焦于这份授权本身，而是更多地关注生态系统对这份授权的反应。
But my take is not gonna be necessarily on the mandate itself, but more, I guess, like, the ecosystem's reaction to the mandate.
所以，关于这个使命，我想说一点，至少我是同意这一点的。
So I I will say one thing about the mandate, at least, which will that be that of course, I agree with this.
你知道，多年来我在Refuel上一直强调，我坚信一个L1链存在的唯一理由就是做到这些：抗审查、开源、私密且安全。
You know, I I've I've been banging this drum for years on the Refuel that I strongly believe the only reason for an l one chain to really exist is to be these things, to be sensitive resistant, to be open source, private, and secure.
我真的不明白，为什么有人要长期构建一个L1链去做除这些之外的其他事情。
Like, I don't really understand why you would build an l one to do anything but those things long term.
我知道确实有一些L1链完全与此相反。
Like, I know there are some l ones out there that are like the complete opposite of this.
对吧？
Right?
比如，HyperLiquid就是完全相反的例子。
Like, for example, hyper liquid is the complete opposite of this.
它们并不是一个通用型的L1链。
And they're not like a general purpose l one.
它们更像是专注于某一特定用途的L1链。
They're kind of like an l one that focuses on one specific thing.
我知道他们有EVM链，但相比他们主打的平台，这条链的使用量非常少。
I know they have, like, the EVM chain, but that's that has very little usage compared to the purpose platform that they have.
对吧？
Right?
所以他们非常专注于一件事。
So so they're very focused on one thing.
但正如我之前所说，我认为这件事本该作为L2来实现，但我感觉他们之所以做成L1，是想利用监管套利。
But as I've said before, I still think that would be better off being done as an l two, but I feel like they did it as an l one as kind of this regulatory arbitrage play.
但另一方面，它非常中心化，我认为他们至今没在监管层面受到任何打击，只是因为美国当前的政府根本不在乎这些事。
But then again, like, it's very, very centralized, and I think the only reason why they haven't really been hit with with anything on the regulatory front is because of the current administration in The US just not caring about that stuff.
你知道吗？
You know?
他们似乎对腐败和非法行为视而不见，只要不是政治立场对立的一方，他们就无所谓。
They seem to be fined with corruption and illegal stuff going on, you know, unless it's on the other side of the political spectrum, then they're, you know, they're not fine with it.
但我不会在这里谈政治，不过很明显，我们经历了从加里·根斯勒领导的SEC和民主党掌权时期，那时他们针对加密领域的政策堪称最差——他们追击的是好玩家，而不是坏玩家。
But I'm not gonna get into politics here, but, like, it's very clear that, you know, we we swung from Gary Gensler's SEC and the Democrats kinda being in power there having, like, the worst policy when it came to going after Kupiro actors because they went after the good actors and not the bad ones.
而现在，另一端是共和党人，他们只针对那些支持民主党、或者强烈支持民主党的人。
And then you have the other side now of the spectrum, which is the Republicans not going after anyone unless they're you know, these people are, like, pro Democrat or, like, heavy pro Democrat or something like that.
强烈支持政治上的另一方。
Heavy pro the other side of the the politics.
是的。
Yeah.
我其实说过这一点，我认为上周参加活动时，我跟某人提到过，我认为SBF至今未被赦免的唯一原因，是他和他父母都是民主党支持者。
And I I said this actually, I think I said this to someone at the event I was at last week that I think the only reason SBF hasn't been pardoned yet is because his parents and himself were pro democrat.
对吧？
Right?
如果他在选举前就支持共和党，支持特朗普之类，他早就被赦免了，也许不是第一天，但肯定会在特朗普总统任期初期就获得赦免。
If he was a pro republican going into the election and he's you know, even before the election and he supported Trump and everything like that, he would have gotten a pardon, like, maybe not day one, but, like, pretty early on in Trump's presidency.
我对这一点很有信心。
Like, I'm pretty pretty confident in that.
所以，你知道，这类事情背后牵涉到很多政治因素。
So, you know, there's a lot of politics going on here with with that sorts of stuff.
所以回到我之前说的关于HyperLiquid的例子，我认为他们所做的本质上更像是一种监管套利行为，因为它的构建时间早于更友好的监管环境。
So to bring it back to what I was saying about, like, about like hyperliquid for example, yeah, I just think that what they did was kind of maybe a regulatory arbitrage play above all else because it was built, I guess, before the more friendly regulatory environments, as well.
但确实，我认为这种架构作为L2会更好。
But but, yeah, I I just think that that construction would be better as an l two.
但如果你谈论的是通用的L1，以及L1到底擅长什么，那就是这些功能。
But if you talk like you speak about, like, generalized l ones, and and what an l one is and what it's actually good at, it's these things.
如果你想构建其他任何东西，要么是L2，要么就是中心化数据库。
Like, if you wanna build anything else, it's either an l two or or a centralized database.
我只是不明白，为什么你要构建一个通用的L1来做那些本可以用其他方式更好完成的事情，除非你构建这个通用L1的目的就是为了实现这些特性——最大限度地抗审查、开源、私密和安全。
Like, I I just don't understand why you would build a generalized l one to do something that is better done with with something else unless you're you're building the generalized l one to be these things, to be maximally sensitive resistant, to be open source, private, and secure.
在我看来，目前没有任何区块链能实现这一点，只有以太坊做到了。
Now to me, there are actually no chains out there that achieve this except Ethereum.
我不认为比特币能达到这个标准。
I don't think Bitcoin achieves this.
我知道这仍然不是主流观点，但我真的这么认为。
And I and I think Bitcoin like, I know this is not a popular opinion still, but I I truly do.
而且我说这话已经好几年了。
And I I mean, I've been saying this for years.
我真的认为比特币会持续失去相关性，随着时间推移会变得越来越无关紧要。
I truly do think that Bitcoin is going to keep losing relevancy, and it's gonna be keep becoming irrelevant as time goes on.
我认为，无论是量子威胁，还是长期无法保障自身安全，最终都会让比特币消亡。
And I do think that a either the quantum threat or the threat of, not being able to secure itself is long term going to kill Bitcoin.
我说的‘让比特币消亡’，实际上是指让它变得无关紧要。
And by kill Bitcoin, I basically mean make it irrelevant.
我不是说它会彻底消失，我觉得它可能还会以某种方式继续存在，但我认为它会持续失去相关性。
I don't mean, like, literally kill it because I think it'll still continue on in some way or another, but, like, just think it's just gonna keep losing relevancy over time.
所以，如果你把比特币从这个讨论中排除出去——我觉得你应该这么做，因为它其实并不符合这些很多方面的特征。
So if if you exclude Bitcoin from this conversation, which I think you should because it really doesn't fit into a lot of these, a lot of these things.
是的。
Yes.
它说你实现了开源，但并不私密。
It says you persist an open source, but it's not private.
但公平地说，以太坊在某种程度上也是如此。
And either to be fair, neither is Ethereum to an extent.
我的意思是，你可以在以太坊上使用一些工具来实现交易隐私，比如Tornado Cash，但我们都知道，这背后还有一大堆问题。
I mean, you can use things on Ethereum to make your transactions private in a way like to Netacash, for example, but we all know there's a whole other kind of can of worms there.
至于安全性，这并不是主观的，但比特币和以太坊的安全性确实存在差异。
And secure, that's I mean, it it it's it's not subjective, but, like, there are differences between the security of Bitcoin and and Ethereum.
但我觉得，随着时间推移，比特币会变得越来越不安全，而以太坊则会越来越安全。
But, like, I think as time goes on, Bitcoin becomes less secure and Ethereum becomes more secure.
比特币会变得越来越不私密。
Bitcoin becomes less private.
以太坊将会变得更加私密。
Ethereum is gonna become more private.
以太坊的抗审查性会增强，而比特币的抗审查性会减弱。
Ethereum becomes more sensitive resistant while Bitcoin becomes less.
对吧？
Right?
所以，是的，如果我们只是看一下这些标准，而且如果我们愿意宽容一点，可以说比特币今天已经满足了其中很多条件。
So, yeah, if we if we just, like, look at that and we can if we wanna be generous, we can say that Bitcoin fulfills a lot of these criteria today.
但正如我所说，我不认为它在未来还能做到。
But, like, as I said, I don't think it's going to in the future.
但当我看看其他所有的 L1 时，我的意思是，我谈的是像通用型 L1 这样的项目，因为比如门罗币，它确实满足了其中很多要求。
But like I look at every other kind of l one out there and I mean and I'm I'm talking like maybe like generalized l ones because you could say that for example, Monero, you know, fulfills a lot of this stuff.
没错，它确实满足了，但它并不是一个通用型 L1。
And and sure it does, but it's not a generalized l one.
它有非常特定的用途。
It has a very specific purpose.
它基本上就是一个应用链。
It's basically an app chain.
所以说到通用型 L1，实际上只有以太坊。
So when it comes to generalized l ones, there really is only Ethereum.
因此，以太坊基金会在这里所做的，基本上就是在阐述以太坊的价值主张。
So what the EF is doing here is basically saying this is the value prop of Ethereum.
这将是推动以太坊长期价值、推动ETH长期价值的关键。
This is what is going to drive value to Ethereum long term, to ETH long term.
这就是以太坊的产品市场契合点。
This is what Ethereum's product market fit is.
所以我们正在加倍投入这一点。
So we're doubling down on that.
我们不会往这个方向、那个方向偏离。
We're not gonna go off in this direction, this direction.
我们不会被拉到这边、那边，去做各种各样的事情；以太坊基金会存在的目的，就是履行这些条件，持续朝着这些目标前进。
We're not gonna be pulled over here and over here, and and do all these sorts of stuff when the EF exists as an organization to fulfill these conditions, to keep building towards these conditions.
正如你们所知，strawmap.org 上已经发布了全新的路线图，它基本概括了所有这些内容。
And as you guys know, there is an entirely updated roadmap at strawmap.org that is basically encapsulating all of this.
对吧？
Right?
所有这些不同的举措，都是为了服务以太坊基金会所强调的那些目标。
Like all of these different things are in service of those things that the EF is talking about.
更强的审查抵抗性，比如Fossil这样的技术。
The increased censorship resistance, stuff like Fossil.
对吧？
Right?
开源。
Open source.
我的意思是，以太坊生态系统所做的任何事情，这一点都是理所当然的。
I mean, that's just a given across anything that the Ethereum ecosystem does.
所有东西都已经是开源的了。
Like, everything is open source already.
在这方面，我们做得相当不错。
So we're we're doing pretty well in that regard.
你知道的，私密性。
You know, private.
关于隐私，这里有很多相关内容。
Like, there's there's plenty of stuff on here with regards to privacy.
对吧？
Right?
加密内存池是现在被广泛讨论的话题，我在这期节目中也会谈到这一点。
Encrypted mempools is something that's being talked about a lot, which I'm actually going to touch on, on this episode as well.
还有安全，我的意思是，这里有很多内容都与提升以太坊安全性有关，同时用户体验也被涵盖在内。
And secure, I mean, are so many things on here that have got to do with increasing Ethereum security, and then user experience as well is on here.
所有这些都包含在内。
Like, it's all on there.
对吧？
Right?
所以它们正在引导生态系统，作为生态系统的守护者，推动实现这一路线图，而这条路线图本质上是涵盖所有这些内容的总纲。
So so they're guiding the ecosystem and being the stewards of the ecosystem to deliver on that roadmap, which which basically is a is an umbrella over all of this stuff.
对吧？
Right?
那么接下来就涉及到人们希望以太坊基金会做什么，以及他们不会做什么，还有为什么人们会对这一点感到不满。
So then it comes to what people want the EF to do and what they're just not going to do and why people get kind of upset about this.
很多人似乎希望以太坊基金会能在用户接入或生态扩展方面担任领导者。
A lot of people seem to want the EF to be an a leader when it comes to onboarding users or when it comes to growing the ecosystem.
这意味着通过应用来扩展应用、接入用户，并接入更多种类的这类利益相关者。
And by that, it means like growing the apps and like onboarding users via apps and onboarding more, more more kinds of that that, I guess, like stakeholder.
这不是以太坊基金会的职责。
That's not the EF's job.
这从来就不是以太坊基金会的职责。
It's never been the EF's job.
这也不是以太坊基金会擅长的事情。
It's never been what the EF is good at.
今天有一位Coinbase的工程师发了一条推文，我觉得特别让人烦。
And there was a tweet today from someone from from Coinbase, one of their engineers that I felt was just really irritating.
我不确定现在能不能找到这条推文，也许我可以找出来给你们看看，但看到这些推文真的让我很不爽。
And I don't know I don't have it up here right now, or maybe I can find it and and bring it up for for you guys, but it really irritated me seeing these tweets.
是的。
Yeah.
是的。
It's yeah.
我眼前屏幕上就显示着这条推文。
I've got I've got it in front of me on my screen.
他们一开始在推文中说，以太坊正朝着成为加密货币界的网景浏览器的方向发展。
So, you know, they started the tweet by saying Ethereum is on a trajectory to become the Netscape of crypto.
首先，这个比喻根本毫无意义。
Like, for starters, this analogy makes no fucking sense.
我真的很生气，对这个比喻感到愤怒。
Like, I'm just like, I'm actually angry about this analogy.
这完全说不通。
Like, this makes zero sense.
如果你了解网景浏览器的历史，就会明白它和以太坊根本完全不同。
Like, if you actually know the history of Netscape, then you would understand that it's completely different to Ethereum.
它和以太坊根本不在同一个量级上。
It's not even in the same ballpark of what Ethereum is.
但我想，不管这个比喻如何，以太坊依然在继续。
But I guess, like, regardless of the analogy here, you know, Ethereum continues instead.
不幸的是，以太坊因为无法专注于真正重要的事情，注定会保持相关性。
Unfortunately, Ethereum is destined for relevance due to its inability to focus on what matters.
好吧。
Okay.
好吧。
Okay.
以太坊不仅仅是指以太坊基金会。
Ethereum is more than the EF here.
即使你觉得基金会做错了什么，以太坊也远比基金会本身要伟大得多。
Like, even if you think that the EF is doing, you know, something wrong, Ethereum is so much greater than the e than the EF.
对吧？
Right?
然后，以太坊继续坚持，就像网景在微软疯狂打压它的时期，却浪费时间从第四版重写到第六版一样，他们坚持让基金会聚焦于赛博朋克价值观，而此时正是传统机构纷纷上链、转向其他网络的关键时刻。
And then, Ethereum continues and says, just as Netscape wasted time on a rewrite from version four to six at a time when Microsoft was absolutely killing them, they insist the EF insist on focusing on Cyberpunk values at a pivotal time when the institutions are finally coming on chain often to other networks.
这也是错的。
This is also wrong.
这些机构正在以非常大的规模接入以太坊链。
Like, these institutions are coming on chain to Ethereum in a really big way.
连Robinhood都为上帝的名义推出了自己的L2解决方案。
Robinhood just launched their own l two for god's sake.
全球最大的资产管理公司CEO拉里·芬克全力支持以太坊，并不断提及它。
Larry Fink, the CEO of the largest asset manager in the world is all in on Ethereum and constantly talks about it.
贝莱德只为其BTC和ETH推出了ETF，没有为其他任何资产推出。
BlackRock does not have an e an ETF for anything except BTC and ETH.
他们刚刚推出了质押ETH的ETF，我将在本集末尾讨论它。
They just launched their staked ETH ETF, which I'm gonna talk about at the end of the episode.
所以，再次说，这简直让我无语。
So again, this is just like I don't know.
这可能是非常糟糕的吸引点击的手段。
This is really bad engagement bait maybe.
然后你以这句话结束：一个决心获胜的以太坊基金会会专注于如何让以太坊成为金融领域最好的链。
And then you have finished this by saying, an EF determined to win would focus on how to make Ethereum the best chain for finance.
但这并不是它今天正在做的。
That's not what it's doing today.
这正是它正在做的。
That's literally what it's doing.
最好的金融链应该是抗审查、私密、安全且用户体验良好的链。
The best chain for finance is one that is censorship resistant, private, secure, and has good UX.
这正是他们正在做的。
That's literally what they're doing.
所以我无法理解这个观点。
So I don't understand this take.
像这样，今天读到这个真的让我很生气。
Like, this actually made me upset today reading this.
我本来我根本不想看这条推文，因为我不想为此生气，但我还是看了。
I was I I just couldn't like, I didn't I I actually didn't even wanna see this tweet because I didn't wanna get upset about this, but I did.
所以像这样的说法，我看到这些内容时就觉得，这完全误解了EF的定位。
So so it's it's it's stuff like this, and I I read stuff like this, and I'm like, this is a fundamental misunderstanding of what the EF is.
而一个来自Coinbase的工程师说出这种话，确实挺讽刺的，也许他们并不负责Base项目。
And and it's really rich coming from an engineer at Coinbase, and maybe they don't work on base.
我不确定他们是否负责Base或者其他项目。
I don't know if they work on base or something else.
但你好好想一想。
But think about this for a second.
Base如今是最大的二层网络。
Base exists as the largest l two today.
对吧？
Right?
它几乎免费地享受着以太坊提供的安全性。
It gets basically free, security from Ethereum.
对吧？
Right?
那为什么它能获得这些呢？
And why does it get that?
这是因为 blobs 的存在。
Well, it's because of blobs.
好的。
Okay.
是谁让 blobs 变成现实的？
Who made blobs a reality?
核心开发者。
The core developers.
好的。
Okay.
以太坊基金会做什么？
What does the Ethereum foundation do?
它负责维护协议。
It stewards the protocol.
它负责维护核心协议。
It stewards the core protocol.
它拥有并支持大量以太坊的核心开发者和研究人员。
It you it, has under its wing and in its workforce, a lot of the core developers and researchers of Ethereum.
因此，Coinbase 直接受益于以太坊基金会的核心理念及其在这些理念上的工作。
So Coinbase is directly benefiting from the Ethereum foundation's core principles and what they're working on in regards to those core principles.
对吧？
Right?
看到这条推文竟然出自他们，真是令人感慨。
So it's just rich seeing this this tweet kinda kinda come from them there.
此外，Base——我是说 Coinbase 以及其中的 Base——正是那些应该专注于用户入门的组织之一。
Now on top of that as well, base is, I mean, well, Coinbase, but also Base within that, is one of those organizations who should be focused on user onboarding.
这正是他们的全部职责。
That is their entire job.
Coinbase 的全部使命就是帮助人们进入加密世界，并通过 Base 上链。
Like Coinbase's entire job is getting people onboard into crypto and then on chain via Base.
对吧？
Right?
所以他们正在做他们认为以太坊基金会应该做的事情。
So they are doing what they think that the EF should be doing.
但问题是，如果你去问一个至少对这个行业有所了解的人，谁更擅长将用户引入这个生态系统？
But the thing is is that, like, if you were to ask someone the question, someone at least knowledgeable in the industry, the question, who do you think would be better at onboarding users into this ecosystem?
我的意思是，普通用户，比如普通人，是基金会好还是币安好？
And I mean, end users such as like everyday people, the EF or Coinbase.
任何有点脑子的人都会毫不犹豫地回答：币安。
Like anyone who's even got half a brain cell should always answer Coinbase.
对吧？
Right?
所以另一个问题可能是：你希望谁来将用户引入这个生态系统？
So and and and also the other question could be who do you want onboarding users into this ecosystem?
是币安这样的公司，或者像Robinhood这样的公司，还是以太坊基金会？
Coinbase and, companies like Coinbase or like like Robinhood for example or the EF.
十次里有十次，我的答案都是，我希望像Coinbase这样的公司来做这件事。
10 times out of 10, I I would answer, I want the, companies like Coinbase doing this.
我不希望EF来做这件事。
I don't want the EF doing this.
因为如果EF来做这些事，会严重分散他们本应用于自己最擅长领域的资源，也就是以太坊协议本身以及维护他们使命中的那些价值观。
Because if the EF was to do this stuff, guys, that would pull away so many of their resources from what they're really good at, which is the Ethereum protocol itself and upholding these values that they've put into their mandate.
所以当你真正深入分析，理解了所有这些——抱歉，理解了棋盘上所有这些部分的分布后，你就会明白为什么EF会这么做。
So when you actually walk through this and you actually understand where all of this, you know, where all the places, sorry, where all the pieces are on the board, you you kind of understand why the EF does this.
对吧？
Right?
为什么他们要发挥自己的优势，而不是走另一条他们并不擅长的道路，而那条路上已经有很多其他实体了。
Why they play to their strengths rather than going down this other path, which they're not as strong in, which there already exists plenty of other entities there.
那为什么EF要专注于那方面呢？
So why would the EF focus on that?
那就好比让Coinbase放弃他们其他所有业务，转而去专注核心开发。
That would be like asking Coinbase to pivot from all of their other stuff and focus on core development.
对吧？
Right?
他们为什么要这么做？
Why would they do that?
既然这不是他们的强项，他们为什么要专注于以太坊核心开发？
Why would they focus on Ethereum core development when that's not what they're good at?
这并不是他们多年来一直在做的事情。
That's not what they've been doing for many years now.
这本质上也不是他们的商业模式。
That's not, essentially their business model.
所以以太坊基金会并不是一家企业。
So the EF isn't a business.
对吧？
Right?
但你可以把它看作一家企业，他们的商业模式是核心协议、核心协议的研究与开发，以及维护以太坊的赛博朋克价值观。
But you could think of it as a business and say, their business model is the core protocol, is research and development of the core protocol and upholding Ethereum's Cyberpunk values.
如果你希望他们有另一种商业模式，那你要么试图改变整个EF，但这不可能发生，要么你就自己创办一家公司或组织来实现这一点。
If you wanted them to have a different business model, well, then you either have to try and change the entire EF, which is not going to happen, or you create your own company or create your own organization to do that.
你完全有自由去做这件事。
You are free to do that.
没人会阻止你这么做。
No one's stopping you from doing that.
所以，这就是我对这一切的总体看法，其中很多内容对你们来说并不新鲜，我这简直是对牛弹琴，但这件事就是让我很沮丧，因为无论EF做什么，人们总会不满。
So that's my, I guess, like general view on all of this, and a lot of that is not news to you guys, and I'm preaching to the choir here, know, but it's something that just gets me frustrated because it just feels like no matter what the EF does, people are gonna be upset.
对吧？
Right?
即使EF真的治愈了癌症。
The EF could literally cure cancer.
他们甚至能从着火的楼里救出婴儿。
They could save babies from burning buildings.
他们甚至能让死去的动物复活。
They could, you know, bring animals back to life.
对吧？
Right?
搞出点能把人们心爱的宠物复活的东西。
Come up with something that brought brought people's beloved pets back to life.
但还是有人会因为这是EF做的而挑刺。
And someone somewhere would still have an issue with it just because it came from the EF.
感觉EF简直就是大家的替罪羊。
It just feels very much like the EF is everyone's scapegoat.
就是怪EF，EF干了这个，EF干了那个。
It's just let's blame the EF, or the EF does this, the EF does that.
怪他们好了。
Let's blame them.
前几天，EF宣布他们卖了5000台给Bitmine。
Like the other day, the EFs announced that they sold 5,000 to to Bitmine.
人们抱怨说EF又卖了。
People complained that EF sold again.
所以如果EF宣布他们出售，人们就会抱怨。
So if the EF announces that they sell, people complain.
如果EF不宣布他们出售，人们也会抱怨。
If the EF doesn't announce when they sell, people complain.
这简直是个无解的处境。
They lit it's literally an unwinnable situation here.
所以我非常乐意让EF继续做他们正在做的事，因为首先我认为他们做得非常好。
So I am more than happy to just let the EF keep doing what they're doing because I think they're doing a really good job at it for starters.
但同时也因为他们不可能让每个人都满意。
But also it just they can't please everyone.
他们永远不可能让每个人都满意。
They're never gonna please everyone.
任何对EF不满、不认为他们所做之事正确的人，完全可以去做别的事情。
And anyone who is not pleased with the EF and and doesn't think what they're doing is the right thing, then you can literally do something else.
你并不被强迫留在以太坊生态系统中。
You're not forced to be in the Ethereum ecosystem.
你并不被强迫必须与以太坊基金会站在一起，而且有很多知名人士已经离开了基金会，比如丹·克罗德，他们去了别的地方。
You're not forced to be with the EF, and there are high profile people who have left the EF, right, like Dan Croyd for example, and gone somewhere else.
因为对我来说这非常明显，当时我就看出来了，而现在更明显的是，丹·克罗德想把自己的哲学和策略强加给以太坊基金会。
Because it's very obvious to me, it was obvious to me at the time, but even more obvious now that Dan Croyd wanted to imprint his own philosophies and his own kind of strategies on the Ethereum foundation.
当他无法实现这一点时，他就离开了，现在却表现得像个心怀不满的前员工，无论基金会做什么，他都不断发泄不满。
And when he wasn't able to do that, he basically left, and now he's acting like someone who is a disgruntled ex employee because he's always lashing out and no matter what the EF does.
在我看来，这非常不成熟。
That is very immature to me.
在我看来，这太幼稚了。
That's childish to me.
别纠结了，兄弟。
It's like move on bro.
好吧，你没得到你想要的。
Like, okay, you didn't get what you wanted.
现在你去了别的地方，那就往前看吧。
Now you're working at at that tempo, like move on.
别只是把那群人叫做傻瓜。
Like not to just call that dumb crowd.
还有其他人也做过类似的事，但我认为这真的非常幼稚。
There are other people out there who have done this, but I just think that it is is extremely childish.
我认为这实际上对生态系统没有帮助。
I don't think it actually helps the ecosystem.
而且我认为这确实是一种 actively 损害生态系统的行为。
And I think it is, it it it is something that actively hurts the ecosystem.
但如果人们想这么做，他们也可以。
But if people wanna do that, they can.
你知道，正如人们常说的，这是个自由的国家。
You know, it's a free free country as they say.
对吧？
Right?
人们可以做他们想做的事。
People can do what they want.
但，是的，这就是我对所有这些事情的总体看法。
But, yeah, that's my general view on all of that there.
但正如我所说，你可以自己去阅读EF的新使命，自己做出判断。
But as I said, you can go read the EF new mandate for yourself, make up your own mind.
你不必同意我的观点。
You don't have to agree with me.
你知道，你不必听我的。
You know, you don't have to listen to me.
我只是像往常在Refuel上一样，表达我的观点和想法。
I'm just giving my opinions and thoughts like I always do on the Refuel.
但，是的，这对你们来说对我来说并不是什么新鲜事。
But, yeah, this is nothing new for me guys.
我一直都在围绕EF反复强调这一点。
Like, I've always, always beaten this drum around the EF.
我一直都说，我认为EF应该专注于自己最擅长的领域。
I've always said that I believe the EF should focus on what they're best at.
而且说实话，在过去十二到十八个月里，他们在这一点上做得更好了。
And honestly, in the last twelve to eighteen months, they've they've they've got gotten even better at that.
对吧？
Right?
比如，他们请来了托马斯。
Like, they had Thomas come in.
我认为托马斯帮助很大，推动以太坊基金会朝某个方向发展，而我认为他们现在仍在以自己的方式延续这个方向。
He I think he Thomas helped a lot into pull the EF into a a certain direction, and I think they're continuing in that direction just in their own way.
以太坊基金会从来都不可能来个彻底的180度大转弯，变成一个完全不同的组织。
The EF was never gonna do, like, a complete one eighty and become a completely different organization.
他们确实和托马斯到来之前大不相同，但他们的核心仍然是他们的使命所在。
They're they're they're definitely very different to what they were pre Tomas, but but at their core is what their mandate is here.
这就是以太坊基金会的核心。
Like, that's the core of the, the Ethereum foundation.
说实话，我觉得很多人如果去和以太坊基金会的工作人员聊聊，会发现他们说的其实和我刚才对你们说的是一回事。
And honestly, like, lot of people I think would get a lot out of talking to people who work at the EF because they are going to be telling you guys the same things that I've said to you guys.
我从未在EF工作过，但我经常与许多EF成员交流。
I've never worked at the EF, but I talk to a lot of EF members.
他们总是提到同样的事情。
The same thing always comes up with them.
他们希望从事有意义的工作，不仅能给自己带来意义，也能为世界带来意义。
They wanna work on stuff that is meaningful, that gives not only themselves meaning, but gives meaning to the world.
他们希望从事能对世界产生积极影响的工作。
They wanna work on something that they feel like can positively impact the world.
老实说，科技领域里这样的工作已经不多了。
And honestly, there's not that many of those things left in tech anymore.
许多正在开发的AI项目并没有对世界产生积极影响。
A lot of the AI stuff that's being worked on does not positively impact the world.
我认为它们反而对世界造成了负面影响。
I would argue that it negatively impacts the world.
比如所有内容创作相关的东西，我认为都对世界造成了负面影响。
Like all of the content creation stuff, I would say negatively impacts the world.
我其实不认为AI内容创作能带来什么好结果。
I actually don't think anything good is coming out of the AI content creation stuff.
也许你可以说其中5%是好的，比如降低了从事平面设计等工作的门槛，但大部分并不是这样。
Maybe you could say like 5% of it is good, maybe because it's like lowering the barrier to entry to do like some graphic design stuff, but most of it is not that.
大部分被用于政治宣传。
Most of it is being used for political propaganda.
大部分只是用来制造垃圾内容，让你不停地在社交媒体上刷手机。
Most of it's being used to create slop just to keep you scrolling on your phone on social media.
对吧？
Right?
但AI也带来了很多积极的影响，对吧？
But there's a lot of good that's coming out of AI too, right?
比如编程。
Like coding.
但这是像Claude这样的通用型应用。
But that is a universal thing like Claude.
你可以在开发以太坊时使用Claude，很多以太坊开发者都这么做。
You can use Claude while working on Ethereum and a lot of Ethereum developers do this.
对吧？
Right?
这并不是说你非得去搞AI才能这么做。
This is not something that is exclusive to you have to go work in AI to do this.
不对。
No.
这种情况到处都适用。
That applies everywhere.
对吧？
Right?
但其他你可能从事的科技领域，大多数在现阶段对人类来说实际上是净负面影响。
But then all the other tech stuff that that you could work on, most of it is honestly a net negative for humanity at this point.
现在有太多监控技术正在被开发。
There's so much surveillance tech being created right now.
我刚刚读到一些东西。
I was just reading something.
我不知道这是否属实，但我一直关注这方面的信息。
I don't know how true this is, but like, I've been following this stuff for a while.
我刚读到一个理论，说Palantir已经深度融入了美国政府，其最终目标是变得太大而不能倒，从而无法被剥离。
Was just reading something that someone has a theory that Palantir has gotten themselves so integrated with The US Government that their end goal was essentially to become too big to fail so that they can't be ripped out.
然后他们就能通过私营公司在美国乃至全球范围内实施大规模监控，记录一切，并用这些数据做各种不轨之事。
And then they can just have like these massive surveillance, run by private companies, right, by by private corporations in The US and beyond so they can log everything and and do all this nefarious shit with it.
对吧？
Right?
所以，显然，如果你在从事能赋能人民、或希望从事能赋予人民更多自主权的工作，你就不会做这种事。
So obviously, if you're working on something that empowers people or wanna work on something that empowers people and gives more sovereignty to people, you're not working on that.
对吧？
Right?
你会从事以太坊或与以太坊相关的工作，比如开源软件，也许你还在开发Linux之类的东西。
You're working on Ethereum or something adjacent to Ethereum, some open source software, maybe you're working on Linux or something.
对吧？
Right?
能赋予人们力量的东西。
Something that that empowers people.
还有其他的。
And and and yeah.
你还可以做很多其他类型的科技，比如社交媒体。
So much other kind of tech stuff that you could work on like social media.
我的意思是，我都不用解释为什么这对人类整体是负面的。
I mean, I don't even have to explain why that's a net negative for humanity.
对吧？
Right?
尽管我仍然在用推特，但我现在已经不用其他任何社交媒体了。
Even though I do still use Twitter, I don't use any other social media at this point.
我只用推特，因为我要靠它跟进以太坊相关的资讯。
It's literally just Twitter because I need it for to keep up with with Ethereum stuff.
但就连这一点，你们也注意到了，我最近发推的频率确实低多了。
But even that, like, you guys have noticed have definitely noticed I don't tweet nearly as much anymore.
我都想不起来上一次发推是什么时候了。
Like, I don't remember the last time I tweeted anything.
我偶尔会转推一些内容，比如为Refuel转推之类的东西。
I'd retweet a few things for the Refuel, stuff like that.
但再说回到我最初关于EF员工的观点，他们每个人都是这样。
But, again, going back to my original point about people who work at the EF, it's always the same thing from every single one of them.
他们想做有意义的事，朋友们，即使这意味着收入更低——他们通常赚得比别处少，但他们还是想做有意义的事。
They wanna work on something meaningful, guys, even if it means getting paid less, which they usually are getting paid less than they could elsewhere, but they wanna work on something meaningful.
而且，我不是说他们不该拿更多钱，当然他们应该拿更多。
And again, like not to say that they shouldn't be paid more, of course they should.
我坚信他们应该拿远比现在多的薪水，我也很高兴像协议公会这样的组织存在，但关键是，他们依然选择留下。
I I strongly believe that they should be paid way more than they are, and I'm glad things like the protocol guild exist, but like the thing is is that they still stay.
他们并不是被迫留在那里的。
They're not like forced to stay there.
他们又不是在坐牢。
They're not in jail.
对吧？
Right?
没人拿枪指着他们，逼他们必须留在EF。
They're not like a gun to their head or you have to stay at the EF.
他们完全可以去别处，赚更多的钱。
They could go anywhere else and get more money.
但关键是，他们想做有意义的事情。
But again, it's more about the fact that they wanna work on something meaningful.
他们想赋能他人。
They wanna empower people.
他们想做些真正有意义的事。
They wanna do something that means something.
而正是这一点，也让我留在这个生态系统里。
And that that that that's what keeps me in the ecosystem too.
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尽管这些年来我因为各种原因多次崩溃和耗尽精力，如今我也减少了在生态系统中的投入，但我依然身处其中。
Even though I've crashed out and burnt out a lot over the years for various different reasons and these days I spend less time in the ecosystem, I'm still in the ecosystem.
我依然在参与Refuel项目。
I'm still doing the Refuel.
我依然属于以太坊，因为我希望它能持续赋能全球各地的人们，持续为全世界的人们带来自由。
I'm still part of Ethereum because I want to see it continue to empower people around the world, continue to give freedom to people around around the world.
以太坊是一种自由技术，朋友们。
Ethereum is freedom technology, guys.
ETH就是自由货币。
Like, ETH is freedom money.
这正是我在这里的原因。
Like, that's what I'm here for.
如果你不是为了这个而来，那就去别处吧。
If you're not here for that, go somewhere else.
别仅仅因为有可能让以太坊变得更企业化，就留在这里——如果你真想那样做的话。
Like, don't stay in Ethereum just for just on the off chance that you may be able to make Ethereum more corporate if that's what you wanna do.
这种事情根本不会发生。
Like, that's just not gonna happen.
这不符合以太坊的基因。
It's not in Ethereum's DNA.
对吧？
Right?
这种事情根本不可能发生。
There's just no way that that can happen.
所以是的。
So yeah.
好了，不扯这个了。
Anyway, enough ranting about that.
我觉得我把这些天来一直压在心里的话都倾吐出来了。
I think that, I got all that off my chest, stuff that I've been brewing on for the last few days.
不过，你自己也可以读一读。
But, yeah, you can give this a read for yourself.
我会在下面的YouTube描述中附上链接，方便你自己阅读。
I'll link it in the YouTube description below for you to do so.
好了。
Alright.
所以我想，这可能和以太坊基金会的使命有关，但巴纳比发了一条非常棒的推文，我觉得这与围绕以太坊基金会的讨论非常相关，而且意义更广泛。
So I guess, like, maybe this is related to the EF mandate stuff, but, like, Barnaby put out a really great tweet here that I thought was pretty, I guess, like, relevant to the discussion around the EF, but also goes broader than that.
人们总是争论，以太坊到底是什么？
So people always argue about, like, what is Ethereum?
以太坊到底是什么？
Like, what is Ethereum?
它是一个产品吗？
Like, is it a product?
它是一个协议吗？
Is it a protocol?
它是一个平台吗？
Is it a platform?
巴纳比基本上提出了这三点，认为论点是以太坊是一个协议。
And Barnaby basically put these three up and said, well, the thesis is that Ethereum is a protocol.
反论点是以太坊是一个产品。
The antithesis is that Ethereum is a product.
而综合来看，以太坊或许是一个平台——一个在开放对抗环境中实现长期韧性的协议，一个为用户交付价值并按正确顺序自我升级的产品，以及一个提供服务的平台，其他产品可以在此基础上无许可地构建。
Well but the synthesis is maybe Ethereum as a platform, a protocol for long term resilience in open adversarial environments, a product for delivering value to its users and upgrading itself in the right order, and a platform to offer services which off which other products consume to build permissionlessly.
顺便说一下，以太坊基金会现在确实有一个叫‘平台团队’的部门。
And there was a whole thing called the platform team at the EF now, by the way, guys.
我最认同这个观点。
I actually resonate with this most.
我会说，以太坊是一个平台。
I would say that Ethereum is a platform.
它不是一个应用程序。
It's not an app.
对吧？
Right?
它不是某种需要像产品一样营销和构建的产品。
It's not some kind of product that needs to be marketed like a product and needs to be built like a product.
但它也不仅仅是一个协议。
But it's not just a protocol either.
它很可能是协议和产品的混合体，也就是一个平台，因为正如巴纳比在这里所说，它的产品在于为用户创造价值并以正确的顺序自我升级。
It is probably a mixture of a protocol and and a product and amalgamation, which is is a platform because its product as Barnaby says here is delivering value to its users and upgrading itself in the right order.
以太坊的用户是许多不同的实体。
Well, the users of Ethereum are a lot of different entities.
它就像我和你这样的最终用户、二层网络、大型组织和大型机构。
It's like end users like me and you, layer 2s, right, big organizations, big institutions.
你知道，这里有多种不同类型的用户。
You know, there's there's many different types of users here.
但以太坊不仅仅是一个产品。
But but Ethereum isn't just a product.
对吧？
Right?
这同样也是一个为此服务的协议。
Like it's again, it's also a protocol for this.
所以我认为这里的综合结论是，以太坊是一个平台。
So I think the synthesis here is that Ethereum is a platform.
这是一个供所有人使用、任何人都可以在此构建的平台，而且没有人能阻止你这样做。
It's a platform for everyone to use, everyone to build on if they want, and no one could stop you from doing that.
这是无许可的。
It's permissionless.
我觉得巴纳比关于我刚才谈到的以太坊基金会使命等相关话题的这条推文非常精彩。
So I thought that was just a really great little tweet here from Barnaby related to what I was just talking about with regards to the EF mandate and things like that.
所以，是的，我只是想向大家提一下这一点。
So, yeah, I mean, I just wanted to to bring that up for you guys out there.
好的。
Alright.
另一个近几周来热议的话题，起因是维塔利克发了一条关于L2及其在以太坊生态系统中地位的推文，有人误读了这条推文，以为维塔利克在说L2已经死了。
Another hot topic of debate that has been raging on for the last few weeks since Vitalik put his tweet out about l twos and their place in the Ethereum ecosystem is, I guess, like, people kinda taking that tweet the wrong way and thinking that Vitalik saying that l twos are dead.
不。
No.
L2 并没有死，显然没有。
L twos are not dead, obviously.
我觉得这场争论已经差不多结束了，但抱歉，以太坊。
And I think that that debate kinda ran its course, but Ethereum sorry.
以太坊基金会发布了一篇非常棒的文章，我会在下面的 YouTube 描述中附上链接，解释为什么以太坊的扩容对 L2 是利好的？
Etherealize put out a really great post here, which I'll link in the YouTube description below, saying, you know, why scaling Ethereum is bullish for l twos?
因为我们正在扩容 L1。
Because we are scaling the l one here.
我们也在为 L2 扩容以太坊 L1，但我们现在讨论的是直接的 L1 扩容，比如提高 Gas 上限、ZKVM 等技术。
We're also scaling Ethereum l one for l twos as well, but like we're talking about direct l one scaling like gas increases, ZKVM stuff.
对吧？
Right?
当我们谈到直接的 L1 扩容时，指的就是这些。
That's what we're talking about when it comes to direct l one scale increase.
但Etherealize的这篇帖子确实非常出色。
But Etherealize's post here is is is pretty great.
本质上，这并不是对整篇帖子的总结，但核心观点是，L2仍然会因为各种原因而存在。
And essentially, like, it's not this is not like a summary of the entire post, but, like, the the heart of it is that l twos are still gonna exist for various different reasons.
这些也正是我多年来一直所主张的理由。
And it's the reasons that I've argued over the years as well.
这不仅仅是为了扩展性。
It's not just for scale.
这远远超出了扩展性。
It's way beyond scale.
他们提到了Robinhood作为一个很好的例子，说明Robinhood肯定会通过L2来扩展其加密业务，但他们也在创建一个L2，以便获得最佳的技术、在加密领域开展业务的最佳方式，并能够自由定制他们想要的L2链。
And they mentioned Robinhood as a great example here about the fact that, like, Robinhood is going to scale their kind of crypto endeavor via the l two for sure, but they also are creating an l two so that they get the best technology, the best way to do business on on in crypto, and also get to be able to kind of, pick and play with what they want their l two chain to be.
当然会存在中心化控制，但这正是他们所希望的。
There's obviously gonna be centralized controls in place, but that's what they want.
对吧？
Right?
而L2模型提供了实现这一点的最佳方式。
And and the l twos the l two model offers the best way to do that.
我觉得这有点讽刺，因为很多人会对此愤怒，说这不符合我们所谈论的赛博朋克精神。
And I think that it's it's kind of funny because a lot of people will rage against this and say, well, this isn't in the spirit of like the cyberpunk values that we talk about talk about.
这不符合以太坊试图成为的样子。
This isn't in the spirit of what Ethereum is trying to be.
是的，这没错，但我们并不是在L1上做这件事。
And yes, that's true, but we're not doing this at the l one.
这正是在L2上做的全部意义。
This is the whole point of doing it at the l twos.
这本质上就像一个沙盒环境，在L2上发生的一切都不会影响L1协议。
It's like a sandbox environment essentially, whereas where whatever happens on the l two does not affect the l one protocol.
这正是这一切的核心所在。
That is the whole point of this.
目的是将这些事物彼此分离。
It's to separate these these things from each other.
因为当你不把它们分开时，本质上你就会陷入最糟糕的境地，而单体链正是如此。
Because when you don't separate them from each other, essentially what you do is you get the worst of all worlds, and that's what monolithic chains do.
它们本质上是中心化的，因此陷入了最糟糕的状况。
They basically centralize, so they get the worst of that.
而且它们的性能比二层网络更差，所以它们集所有缺点于一身。
And and their performance is worse than l twos, so they get the worst of all worlds.
它们安全性更低、更加中心化、性能更差，却仍然无法提供许多机构所期望的控制权，因为它们无法控制一层链本身——一层链的目标是成为一个通用的、任何人都可以构建其上的平台。
They get less security, they're centralized, less performance, and they still don't give the the control that a lot of these, these institutions want because they can't control the l one chain itself because it's trying to be like a general purpose anyone can build in it sort of thing.
但当你在这里明确划分职责时，一层链保持去中心化、安全、抗审查，完全向所有人开放。
But then when you have the the splitting up here of concerns, you have the l one which remains decentralized, secure, censorship resistant, completely, you know, open to everyone.
而二层网络则可以在其上构建，利用这些优势。
And then you have l twos that can build on top, take advantage of that.
对吧？
Right?
也许不直接利用其安全性，但可以利用其生态系统和流动性，无需单独部署一条一层链（那样成本更高），从而在以太坊生态体系内，以更低的成本实现你想要的目标。
Maybe not take advantage of the security, but take advantage of the ecosystem and the liquidity, not have to spin up an l one because that's more expensive, and basically get, you know, get what you want and and and and, essentially do that on top of Ethereum as part of the Ethereum ecosystem.
所以，这些帖子本质上说的都是这个意思，但我仍然强烈推荐你读一读这篇帖子，因为它涵盖了很多内容。
So that's what a lot of these posts basically boils down to, but I still highly recommend reading this post because it covers a lot.
正如你所见，我正在翻阅，这里的内容非常丰富。
As you can see, I'm scrolling through and it's got a lot going on here.
所以我会在下面的YouTube描述中附上这个链接。
So I'll link that in YouTube description below.
但正如我所说，L1和L2的争论到现在已经被讨论得烂大街了，各位。
But as I said, like the l one l two debate, it's been done to death at this point, guys.
如果你不喜欢L2，那就直接走开吧。
If you don't like l twos, then just just go away.
如果你不喜欢L2，那你就是不喜欢以太坊。
Like, if you don't like l twos, then then you don't like Ethereum.
就这么简单。
Like, it's simple as that.
以太坊将L2作为其扩展策略，不仅是为了提升整体扩展性，也是为了吸引新用户和新机构加入生态系统。
Ethereum has the l twos as its strategy for both scaling, you know, just scaling generally, but also onboarding new users, new institutions into the ecosystem.
如果你只想在L1上做所有事情，想要一个整体式的L1，那这样的选择多的是。
And if you want to just do everything on l one and want like a monolithic l one, there are plenty of those out there.
实际上，整体式的L1比像以太坊这样试图最小化L1、通过L2来处理事务的链要多得多。
There are actually more way more monolithic l ones than there are chains like Ethereum where it's trying to keep the l one minimized and do things via l twos.
我认为，真正与以太坊架构类似的其他链只有比特币，但比特币做得非常糟糕，因为闪电网络太差了，你无法在比特币上构建通用型L2，除非做一堆非常奇怪的操作，最终只会导致中心化，完全说不通。
I would say that really the the only other chains like Ethereum, in in that kind of architecture is Bitcoin, and Bitcoin's doing it horribly because the Lightning Network sucks and you can't build general purpose l twos on Bitcoin, without doing a lot of really weird stuff and it really just makes it centralized in the end and it makes no sense.
就像我之前说的，以太坊并不是做业务的最佳场所。
It's not like, as I was saying before, like, Ethereum is the best place to do business.
在L2方面，比特币根本不是好选择。
Bitcoin is not when it comes to to to l twos.
另外还有一些其他链也在这么做，但它们基本都是无关紧要的链，或者几乎全都不重要。
And then there are a couple other chains out there I think that is that that are doing this as well, but they're they're mostly irrelevant chains or pretty much all irrelevant chains.
所以，是的，你有一长串其他高度中心化的整体式L1，如果你想要这样的生态体验，它们都会满足你。
So, yeah, you've got like a long list of other kind of heavily centralized monolithic l ones that will cater to you if that's what you want out of this ecosystem.
所以，如果你想要的是这个，我就不明白你为什么还要留在以太坊。
So I don't understand why you'd still be in Ethereum if that's what you wanted.
我一直以来都是这么说的。
And I've always said that.
这没什么可羞愧的。
It's like there's no shame in it.
这本身并没有什么邪恶之处。
There's nothing kind of like evil about it.
如果你想要去做一些更符合你价值观和关心的事情，那就去吧。
It's like you wanna go work on something else that resonates more with your act your values and what you care about, go do that.
别试图改变以太坊来适应你的世界观，因为这根本不可能发生。
Don't try to change Ethereum to suit your worldview because it's just not gonna happen.
对吧？
Right?
这又回到了我之前说的，关于对以太坊生态系统不满的前员工。
And and that's again, goes back to what I was saying before about disgruntled ex employees of the Ethereum ecosystem.
他们只是太幼稚了。
They just are childish.
他们就是无法接受以太坊不会屈从于他们的意愿。
They just really can't get over the fact that Ethereum is not gonna bend to their will.
老实说，我很高兴那些人不在以太坊里，因为那根本不是以太坊的宗旨。
And honestly, I'm glad those people aren't in Ethereum because that's not what Ethereum is about.
如果你试图控制以太坊，哪怕你只是想推动你认为对以太坊最好的东西，但其他人并不觉得那对以太坊最好，那么从定义上讲，你就不是以太坊的一部分。
Like if you're trying to control Ethereum, if even if even you're trying to push something that you think is best for Ethereum but everyone else doesn't think it's best for Ethereum, then by definition you are not an Ethereum.
你本质上是反以太坊的，因为你反对的是以太坊所重视的东西，反对的是以太坊正在努力成为的样子。
You are anti Ethereum, like by very definition because you're anti what Ethereum cares about, what Ethereum is being built to be.
所以我很高兴那些人正在处理以太坊生态系统的问题。
So I'm glad those people are handling the Ethereum ecosystem.
我就直说了吧。
Like, I'm just gonna be honest with that.
但无论如何，你可以读一下这篇帖子。
But anyway, you can read this post.
我会在下面的YouTube描述里附上链接，方便你查看。
I'll link in the YouTube description below for you to do so.
好的。
Alright.
所以，我之前在上一期或再上一期的 Refuel 节目中已经讲过关于 MaxEB 的采用情况。
So I I covered this on either the last Refuel or the Refuel before with regards to adoption of MaxEB.
为了让大家回顾一下，MaxEB 是在几次升级前上线的 EIP，它允许你合并你的验证节点。
And for just to refresh for you guys, MaxEB is the EIP that went live a couple of upgrades ago that basically allows you to consolidate your validator.
所以，不再每个验证节点只能有 32 ETH，现在每个验证节点最多可以有 2,048 ETH。
So instead of having only 32 ETH per validator, you can have up to 2,048 ETH per validator.
现在，Buddha 在 Dude Analytics 上推出了一块新的仪表板，专门追踪这一数据。
Now there's a new dashboard here from Buddha on Dude Analytics that basically tracks this.
我上次讲这个话题时展示过几个其他仪表板，但这里你可以看到当前的情况。
I showed a couple of other dashboards the last time I covered this, but you can see here what this currently looks like.
显然，趋势是朝着正确的方向发展，但距离目标还差得远。
Obviously, trending in the right direction, but like not there yet by a long mile.
我们基本上希望这张图表中的灰色部分能远远超过橙色部分，但我们现在正在逐步接近。
We we basically want the gray part of this chart to essentially dwarf the orange part, but we're getting there.
我们正在逐步接近目标。
We're getting there.
我认为到了年底，这种情况会大不相同。
And I think that towards the end of the year, this will look a lot different.
我听说不少大型质押服务商和节点运营商都希望进行大规模整合。
I've heard that a number of the bigger staking providers and node operators want to consolidate and consolidate in a big way.
所以我相信我们一定会看到这种情况发生。
So I'm sure we're going to see this, happen.
但当然，这只是一个供你们跟踪的仪表板。
But, yeah, this is just another dashboard for you guys to keep track of.
如果你感兴趣的话。
If you want to.
我会在下面的YouTube描述中附上链接，方便你们查看。
I'll link it in the YouTube description below for you to do so.
好的。
Alright.
所以当时发生了一点小风波。
So there was a bit of, I guess, drama.
这变成了你知道的什么？
This became like you know what?
一点小风波就是理解这件事的关键。
A bit of drama is understanding this.
在过去几天里，这成了加密推特上的主要话题。
This became like the main talking point on crypto Twitter over the last few days.
对于那些还没听说这件事的人，我在这里做个简要总结，给出最顶层的概述。
And for those of you who haven't heard about this, there was a just to summarize and give you the highest level summary I can here.
有个用户在Cowswap上下了单，哦，抱歉。
There was a user who did an order on Cowswap, over the oh, sorry.
这个用户在周末通过Cowswap在Aave上操作了。
On Aave via Cowswap over the weekend.
我想这件事发生在周末或者周五之类的。
I think this happened like on the weekend or Friday or something like that.
这笔订单的规模达到了5000万美元。
And the order size was $50,000,000.
由于一系列不幸的状况，这5000万美元最终只变现成了，我记得是3.6万美元，以太坊交易流程里的很多不同参与方都分走了剩下的钱。
Now due to a bunch of unfortunate circumstances, this $50,000,000 turned into, I think, $36,000 and a lot of different, I guess, like, entities within the transaction pipeline of Ethereum took the rest of that money.
这条推文里有明细，上面说这笔订单完成后，用户只拿到了3.6万美元。
And there's a breakdown here in this tweet, which essentially said that the user got $36,000 out of this order.
所以他们原本想要做交换，我想想他们本来想 swap 什么来着？
So they wanted to swap, I think they wanted to swap like, what was it?
用户在Aave的前端（交易路由会接入Cowswap）发起了一笔交易，用价值约5000万美元的USDC这类资产兑换Aave这类代币。
USDC or or something for, $50,000,000 worth of Aave or something like that using using cows sorry, using Aave's front end which routes through, Cowswap here.
可结果他们只拿到了价值36000美元的Aave，剩下的资金里，有62万美元作为结算者费用流向了Cowswap。
But instead they got $36,000 worth of Aave and the rest of the money went to so $620,000 went to Cal Swap for their solver fee.
还有990万美元流入了一个抢先交易的MEV机器人，这个机器人插队完成了这笔交易的后续抢跑操作。
$9,900,000 went to an MEV bot that back ran that transaction.
另外还有260万美元也流入了同一个MEV机器人，来自这笔涉及50.5亿美元的交易的抢跑收益。
Another $2,600,000 went to the same MEV bot for back running the $5,050,000,000 dollar transaction here.
所以，这是一笔单独的交易，我想。
So a separate transaction, I think.
3430万美元的费用支付给了Titan，来自MEV机器人。
A $34,300,000 fee went to Titan from the MEV bot.
Titan是以太坊排名第一的区块构建者，其中包括120万美元支付给Lido作为区块提议费，350万美元的Deck Swap费用，以及一些剩余的较小规模的ARB交易。
So Titan is the number one block builder on Ethereum, which includes $1,200,000 to Lido as the block proposal and $3,500,000 in deck swap fees plus residual residual smaller ARB transactions.
所以，所有的钱都流向了这些地方。
So that's where all the money went.
好的。
Okay.
那为什么会发生这种情况？
So why did this happen?
这是因为用户不小心交换了错误的代币。
Well, this happened because the user accidentally swapped the wrong tokens.
我认为他们交换了其他代币的收据代币，或者试图将其交换为其他代币。
I believe they swapped the other receipt token, or one of the receipt tokens from other or attempted to swap it for, for other.
是的。
Yeah.
通过那样做，是的。
And, by doing that yeah.
抱歉。
So sorry.
他们试图交换 ETH 和 USDT。
They they attempted to swap the ETH USDT.
所以，基本上，这是以太坊的某种收据代币，但由于流动性不足，抱歉。
So basically, the this kind of like receipt token from Ethere for, for Ethere, which there wasn't enough liquidity for, for sorry.
对于以太坊的收据代币。
For the, receipt token of of Ethereal.
流动性不足，导致这笔交易最终变成了这样。
There wasn't enough liquidity for and essentially the trade, you know, ended like this.
五千万美元，就像出现了巨大的滑点，如果你这么称呼的话。
$50,000,000 like, there there was just like a ton of slippage if you wanna call it that.
但本质上，这笔交易的流动性不足。
But essentially, wasn't enough liquidity for this trade.
那么，为什么这些交易还是进行了呢？
So why did these trades still go ahead?
你可能会问。
You may ask.
为什么，你知道的，这种事情会发生？
Like why did, you know, this this basically happen?
嗯，关于这件事，现在还在陆续发布一些事后分析。
Well, there's still kind of, I guess, like postmortems coming out about this.
最新的那份报告是今天发布的，我想。
The latest one came out today, I believe.
但本质上发生了什么，我可能在这里有些事实说错了，因为这里面涉及的内容太多了。
But essentially what happened and I may be getting some facts wrong here guys because there's a lot that goes into this stuff.
但本质上，当你进行这样的交易时，另一个前端会警告你，说进行这笔交易会导致x量的滑点。
But essentially what happened was that when you're making a trade like this, the other front end will warn you and say like doing this trade will result in x amount of slippage.
在这种情况下，另一个前端告诉用户：如果你进行这笔交易，你将损失99%的资金——我不知道他们是否真的用了‘滑点’这个词，但他们明确告知用户，进行这笔交易会导致你损失99%的钱。
In this case, the other front end told the user, hey, if you do this trade, you're going to lose 99% of this to I guess, I don't know if they actually use the word slippage on there, but they basically told the user that you're gonna lose 99% of your money if you do this trade.
于是用户点击了这个复选框，并表示：我接受这个风险。
So the user click this, check this box, and basically said, I'm okay with this.
好的。
Okay.
但首先，你为什么会这么做？
Well, first of all, like why would you do that?
但就连我们都不知道究竟是谁做了这笔交易。
But I don't even know if we know who the user is yet who did that.
但首先，对我来说，这明显是用户操作失误。
But like, first of all, like that to me is user error.
这正是我在Daily Gwei Discord频道里讨论过的问题。
And this this is a debate that I was having the Daily Gwei Discord channel about this.
但对我来说，这确实是用户错误。
But to me, that's user error.
用户不该这么做。
The user should not have done that.
好的。
Okay.
但用户确实这么做了。
But the user did that.
好的。
Okay.
那么，为什么没有其他安全措施呢？这是下一个问题。
So so why wasn't there any other safeguards in place becomes the next question.
为什么协议甚至允许这种情况发生？
Like, why do the protocols even allow this to happen?
人们会争论说，根本不存在任何人会想做这笔交易的情况。
Like, people will argue and say, there is no reality where anyone would want to do this trade.
这笔交易完全毫无意义，因为没人愿意损失99%的资金。
Like this trade makes absolutely no sense because you no one wants to lose 99% of their money.
因为问题是，即使你对某个代币极度看涨，想快速入场以回本，这个代币也得涨个上千倍，或者类似荒谬的幅度，对吧？
Because the the thing is is that even if you were like incredibly bullish on a token, you wanted to get into it really quickly to make that money back on the token, the token would have to go like a thousand x, right, or something stupid like that.
所以就连膜因币也不会这样。
So like even memcoins don't do that.
对吧？
Right?
所以当涉及到这种事时，当你仔细推敲这个逻辑，你就会得出结论：这个订单根本就不该被处理。
So so when it comes to to that kind of thing, when it, you know, run through that logic, you would make the argument that this order should not have been processed to begin with.
比如，Aave 或 Cowswap 本该直接阻止这个订单。
Like, Aave or Cowswap should have just blocked this order altogether.
他们根本不该允许这个订单被执行。
They should not have allowed this order to go through.
这就引出了一个争议：那么，他们到底该在哪儿阻止这个订单？
And that then brings up the debate of, okay, well then where should they block this order?
是该在前端阻止，还是该在协议层面阻止？
Should they block it at the front end or should they block it at the protocol level?
我认为他们应该始终在前端进行拦截。
I think that they should always do it at the front end.
我非常反对在协议层面做任何阻断之类的事情。
I'm I'm very against doing anything at the protocol level in terms of blocks and stuff like that.
但有人会提出疑问：在什么现实情况下，会有人在协议层面下达99%滑点的订单呢？
But then the argument's made that like, okay, but in what reality would anyone want to do a 99% slippage order on the protocol level?
我对这种观点表示理解。
And I I sympathize with that.
这种行为根本就不该存在。
Like that's that that shouldn't be a thing.
没人会这么做。
Like no one's gonna do that.
那么问题就变成了：这里的阈值应该设在哪里？
So then it becomes the question of, okay, where's the threshold here?
我认为Cal Swap引入了某种机制，叫做……哦，天哪。
And I think that Cal Swap has has introduced something, it's called oh, no.
所以 Aave 推出了一项名为 Aave Shield 的功能，该功能会自动阻止价格影响超过 25% 的交易。
So Aave introduced something called Aave Shield, which is a feature that will automatically blocks swaps with a price impact above 25%.
我认为这是在前端实现的。
I believe that's on the front end.
我不确定这是否在协议层面。
I don't know if that's in the protocol.
我认为这是在前端，因为要更改协议需要花费更长的时间。
I I think it's on the front end because to do a protocol change would be would take a lot longer.
我认为这实际上今天已经上线了。
I think this is actually live today.
所以这是在前端实现的。
So that's on the front end.
但再说一次，这毕竟是 25%。
But, again, like, that that's, you know, that's 25%.
这仍然相当高，但我能理解为什么用户即使面对 25% 的滑点也想退出交易，因为也许这是一枚极度波动的模因币。
Like, that's that's still pretty big, but, like, I can understand why a user would maybe want to get out of a trade even with 25% slippage because maybe it's a super volatile meme coin.
这些东西在一小时内，甚至更短的时间内就可能下跌30%。
Those things can go down 30 in, like, an hour or less.
对吧？
Right?
或者就在一次交易中。
Or they in one trade.
这些东西波动性非常、非常、非常高。
They those things are very, very, very volatile.
对吧？
Right?
所以我能理解用户为什么想这么做。
So I can understand why a user would wanna do that.
这不像99%那么极端。
Like, that's not as extreme as 99%.
但如果这是前端的设置，说实话，我并不反对。
But but if it's at the front end, like, don't have an issue with it to be honest.
因为如果你真的想做这笔交易，你总会找到另一个前端来做，或者直接通过合约本身来操作。
Because if you really want to do that trade, you'll find another front end to do it on or you will do it through the contract itself.
如果你真的想做，其实完全可以做到，即使你不知道如何与以太坊合约交互，你只要问一下AI，它就会一步步教你怎么做，因为它什么都知道。
Like, if you really wanna do it, like, you could do it because you could ask even if you don't know how to interact with contracts on Ethereum, all you have to do is ask an AI how to do it and they'll walk you through how to do it because they know.
我自己就做过。
I've I've done it myself.
对吧？
Right?
我不是专家，不懂怎么读Etherscan或分析智能合约，但通过问AI手动操作其实很简单直接，它会给你详细的步骤指导。
I'm not an expert on how to read ETH scan, read smart contracts, but doing stuff manually is pretty simple and pretty straightforward by asking AI because I'll just give you a step by step of how to do it.
不过你也得小心，因为AI也可能出错。
Now, course you have to be careful with that too because like AI can be wrong.
所以这方面也得考虑进去。
So like there's that aspect to it as well.
但话说回来，绝大多数交易者根本不会接受25%的滑点。
But then again, like the vast majority of trades never gonna wanna accept 25% slippage.
我明白这一点。
So I get that.
我已经把这一点落实了。
So I've already put this into place.
那么问题就来了，他们以前没做过吗？
And the question then becomes like, didn't they do this before?
但他们就是没做。
Well, they just didn't.
对吧？
Right?
正如人们所说，法规是用鲜血写成的。
Like regulations as they say are written in blood.
对吧？
Right?
想想航空业的所有法规吧。
Like think about all the regulations for the airline industry.
这些都是用鲜血写成的。
They're all written in blood.
比如说，飞机因为某种原因坠毁，然后我们找出飞机坠毁的原因，接着就说，好吧。
Like, essentially, a plane has to go down for some reason, and then we identify the reason why the plane went down, and we're like, okay.
那我们就引入这项规定，或者这个安全措施，或者其他什么额外的防护机制，以防止这种情况在未来再次发生。
Well, let's introduce this regulation or this safety feature or this and that, you know, extra kind of, a safeguard there so that we can stop this from happening in the future.
这就是世界的运行方式，伙计们。
That's just the way of the world, guys.
事情就是这么运作的。
Like, that's just the way things work.
不幸的是，这位用户不得不损失这么多钱，才让这件事发生。
And unfortunately, this user had to lose that much money for this to happen.
现在我不知道这件事最终会如何收场。
Now I don't know what the end result of this is gonna be.
你知道吗？这些不同的机构会不会把钱退给用户，然后说，嘿，这不公平。
Like, you know, are these various different entities going to return that money to the user and basically say, hey, like this wasn't fair.
这太荒谬了。
This is ridiculous.
来，把你的钱还给你。
Like, here's your money back.
我们不知道，因为我认为Titan实际上把这笔钱转给了Coinbase。
We don't know because I believe Titan actually sent this money to Coinbase.
所以Coinbase会知道Titania的运营者是谁，以及这里负责的人是谁。
So Coinbase will know who the operator is of Titania and who the person in charge of it is here.
也许Coinbase会介入，说：嘿，伙计们，这是你们的钱。
Maybe Coinbase gets involved and says, hey, guys, like, you know, this is your money.
你们不会冻结这笔钱之类的。
You know, we're not gonna maybe they're not gonna freeze the money or anything like that.
你们是公平合法地赚到的，但嘿，这实在太荒谬了。
Like, you made it fair and square, but, hey, like, this is ridiculous.
如果你是一家银行，你会作为善意行为把这笔钱退给用户。
Like, you like, if you were a bank, you would return this back to your user, to the user as, a goodwill thing.
所以我不清楚。
So I don't know.
我不知道那里有什么解决方案。
Like, I don't know what the solution is there.
我实际上对是否应该退还这笔钱没有意见。
Like I actually don't have an opinion on whether they should return it or not.
我觉得这里发生了好几处失误。
Like, I think that there's just multiple kind of screw ups here that happened.
用户点那个框，真是傻。
The user for clicking that box, just dumb.
据说手机上有五千万美元。
Apparently, had $50,000,000 on a phone.
我们不知道这里的细节。
We don't know the details here.
也许这个手机只是个设备分配工具。
Maybe the phone was only assigning device.
如果是这样的话，那就另当别论了。
Like, if it was, then it's different.
但如果他们真的在移动钱包里有五千万美元，那从一开始这就太蠢了。
But if they actually had $50,000,000 on a mobile wallet, then that to me is really dumb to begin with.
所以这个用户看起来不太聪明，但我们并不知道完整的情况。
So this user doesn't seem to be very smart, but like we don't know the full story.
所以这只是我在假设一些事情。
So it's me just assuming things here.
然后，是的，Cowswap 和 Aave 本来就不应该处理这笔交易，它们本应内置相应的控制机制。
And then, yeah, Cowswap and Aave should probably just never have processed this trade to begin with, and they should have inbuilt controls for this.
但现在 Aave 在前端已经做到了。
But Aave does now on the front end.
但在协议层面上还没有。
Doesn't have a protocol level.
我不认为这应该在协议层面做，但 Kalswap 也可以通过在它们的私有内存池中将此作为求解器市场的一部分来强制执行。
I don't think it should be done on the protocol level, but then Kalswap can also enforce this outside of the protocol by enforcing it as part of their kind of like solver market in their private mempool.
而且实际上，关于内存池的问题，看起来Kalswap没有保护这位用户的原因是，这笔交易不知为何从私有内存池泄露到了公共内存池。
And actually on the mempool note as well, it seems like that the reason what Kalswap didn't protect the user here was because the transaction actually leaked out of the private mempool into the public mempool for some reason.
我刚刚才听说几小时前有这个消息。
I don't that just came out before like a few hours ago that news.
所以我正在等待更多关于此事的分析，然后再给出更深入的看法。
So I'm waiting for more analysis of that before kind of giving my giving more of a take on that.
但没错，过去几天里，人们一直在讨论这个问题。
But yeah, that's what people have been, I guess, like talking about over the last few days.
这是对这件事的总结。
A summary of that.
我可能有些地方说得不对。
I've I've probably gotten some things wrong.
你可以加入Daily Gwei的Discord频道。
You can come into the Daily Gwei Discord channel.
那里有很多讨论。
There's lot of discussion there.
但说到这个，人们又开始讨论加密内存池了。
But on that note, people have been talking about encrypted mempools again.
这里有一篇来自朱利安的精彩帖子，他在以太坊基金会从事研究工作。
So there's this really great thread here from Julian who works at the, who works in research at the Ethereum Foundation.
他在这篇帖子开头就表示：以太坊需要一个加密的内存池，而且需要尽快实现。
And he starts off this thread by saying, Ethereum needs an encrypted encrypted mempool, and it needs it fast.
这不仅仅是为了阻止套利交易。
It's not just about stopping sandwiching.
加密内存池是以太坊成熟其链上市场的方式。
Encrypted mempools are how Ethereum matures its on chain markets.
我刚刚发布了一篇关于为什么以太坊需要加密内存池的文章，以下是核心论点。
I just published a post on why Ethereum needs encrypted mempools and here are the core arguments.
你可以自己去阅读这些论点。
And you can go through these arguments yourself.
我认为他提出的首要论点是，私有内存池是脆弱的。
I think the number one argument, that I I that he leads with is that private mempools are brittle.
每四十秒就有一个用户在以太坊上被套利，但更关键的是我们正在失去的用户。
And every forty seconds user gets sandwiched on Ethereum, but it's more about the users that we are missing.
机构不能将其用户通过订单发送到一个不透明且受信任的、由不受监管的中介组成的网络中。
Institutions cannot send their users through the user orders to an opaque and trusted network of unregulated intermediaries.
有了加密内存池，他们就不必这么做。
With encrypted mempools, they don't have to.
这可能是我所见过的最有力的、支持加密内存池的论点，因为我记得几周前我讨论过这个问题，当时我对此还持观望态度。
This is probably the strongest argument I've seen for in favor of encrypted mempools because I remember I talked about this a few weeks ago, and I was kind of on the fence about it.
我当时想，你知道，我们没那么迫切需要它，因为已经有大量的私有内存池，人们 anyway 都在使用私有内存池。
And I was kind of like, you know, who who you know, we don't need it that urgently because, like, there's lots of private mempools and people just use private mempools anyway.
但对我而言，现在最有力的论点是，我们已经有了明确的证据，表明私有内存池中的信息无论如何都会泄露到公共内存池中。
But, like, the strongest argument now for me is that, like, we've got clear evidence that things leak from the private mempools into the public mempools anyway.
所以，如果我们能确保即使信息泄露到公共内存池，也不会让任何人获利，让公共内存池变成一个可信的中立公共品，那么你就可以提出这个论点——人们也确实提出过，许多订单流会因为加密而重新回到公共内存池。
So if we can make it that even if there are leaks into the public mempool, it doesn't actually favor anyone and, the public mempool becomes like a credibly neutral common good, then you would make the argument and people have made the argument that a lot of the order flow would go back to the public mempool because it's encrypted.
而正因为如此，每个人都能获得同等公平的待遇。
And then because of that, everyone would be able to get like the same fair treatment.
我认同这个观点。
And I vibe with that argument.
这些是过去提出的论点，我以前并不完全信服，但随着时间推移，我越来越被说服了。
Now these are the arguments that have been made in the past and and I wasn't entirely convinced before, but I'm becoming more and more convinced over time.
我认为这是以太坊所需要的，而且看起来我们将在Hagotar中获得一个加密内存池的EIP。
And I do think this is something Ethereum needs, and it seems like we will get an encrypted mempool EIP as part of Hagotar.
到目前为止，这显然将成为执行层的主打特性。
It definitely seems like that's gonna be maybe the EL headliner at this point.
虽然还很遥远，但毫无疑问它将会成为现实。
It's still pretty far away, but, hey, definitely seems like it's gonna be be a thing.
而且，说实话，相比几个月前，我现在更加支持这个想法，因为我对它有了更多了解。
And, you know, I'm I'm definitely a lot more in favor of that as I opposed to what I was like maybe a couple months ago because I've learned a lot more about it.
我研究了更多相关内容。
I've, studied a lot more.
我看到了更多关于它的论点。
I've seen more arguments about it.
而这正是以太坊核心开发和核心协议流程的美妙之处：有人提出一个想法，我们所有人一起剖析它，表达各自的观点，这促使人们不断改进论点，从不同人的反馈中更好地捍卫自己的EIP，因为每个人都会带着自己的意见进来，说‘这为什么行不通’。
And and this is really the beauty of the, I guess, like, Ethereum core development, core protocol kind of process here is that, you know, someone puts out an idea, we all pick it apart, we all give our opinions on it, and that causes people to get better and better arguments and defend their kind of EIP, so to speak, from all these different people coming in with their opinions saying, you know, this is why it can't work.
这为什么行不通。
This is why it can't work.
最终，我们会得到一个大多数人满意的、非常出色的结果。
And then eventually, get something that looks really good that most people are happy with.
而那些可能仍不满意的人，他们要么提出更好的方案，要么提供更多的反馈，最终基本上会妥协，说：好吧。
And then the ones who maybe aren't happy with it, they, you know I mean, they can either suggest something better or give more feedback or eventually basically capitulate and say, okay.
如果生态系统中的绝大多数人都想要它，那它就是最终的方案。
Well, the vast majority of the ecosystem wants it, then then that's what it is.
我记得曾经有一位长期参与Geth开发的核心开发者，最初是反对EIP-1559的。
I remember there was a core developer working on Geth for a long time that was against the IP one five five nine.
但在这个过程的后期，他们最终转而支持它，因为他们深入研究了更多内容。
But then towards the end of that whole kind of process, they ended up being favor in in favor of it because they studied it a lot more.
他们理解了这些论点，并表示：好吧，这对以太坊来说是一次巨大的整体升级。
They understood the arguments and they said that, okay, well, is a huge net upgrade for Ethereum.
我现在支持这个。
I'm now for this.
这实际上是在以太坊生态系统中一个非常有分量的声音。
And that was actually a a pretty big weight weighted voice in the Ethereum ecosystem.
他的支持几乎是让很多人最终接受的关键，尤其是那些原本反对的人，他们开始觉得：好吧，现在这听起来合理了。
And his endorsement was essentially the last thing a lot of people needed to be like, okay, well, a lot of people who were against it to be like, okay, well, this makes sense now.
我们支持它。
We're for it.
最终，EIP-1559获得了超过95%的人的支持。
So in the end, ERP one five five nine had like 95 plus percent of people in favor of it.
仍然有一些人持保留意见。
There was some holdouts still.
我认为他们大多是小型公司或相关方，但最终所有人都接受了。
I think most of them were just the minors, and minor adjacent kind of companies, but eventually everyone was on board with it.
这种事情本来就是这样发生的。
That's just what happened with these things.
要么最终每个人都支持，要么所有人都不支持，这样EIP就永远不会通过。
Either eventually everyone gets on board or everyone isn't on board with it and the EAP just never goes through.
以EOF为例。
Case in point EOF.
对吧？
Right?
这是一个非常明确的例子。
That's one that where it was very decisive.
这通常是会发生的情况。
And this is generally what happens.
如果某件事非常明确，抱歉，应该是分裂的，不是明确的。
If something is very decisive, if, sorry, divisive, not decisive.
如果某件事非常分裂，比如五五开，这个EIP就永远无法通过。
If something is very divisive, you know, it's splitting things fifty fifty, that EIP is never going in.
根本不存在一个五五开分裂的EIP还能进入网络的情况。
Like, there's no such thing as a fifty fifty split on an EIP that makes it into the network.
我认为，要让一个EIP进入网络，需要有80%到90%的人支持。
You need, I would say, 8090% of people in favor of an EIP for it to make it into the network.
五十对五十的分裂是不可能发生的。
It's just not happening on a fifty fifty split.
反对的人实在太多了。
It's just it's there's way too many people against it.
这并不是民主。
It's not a democracy.
以太坊核心开发根本不是民主，伙计们。
Like, Ethereum core development is not a democracy, guys.
它本质上有点像一种奇怪的东西，说不清道不明。
It is a it is basically like it's not it's it's it's it's kind of like this weird.
它有个名字，但其实就是一种混合了多种治理机制的奇怪形态。
There is a name for it, but it's kind of this weird thing that's like an amalgamation of a bunch of different, I guess, governance mechanisms.
但我认为，核心在于生态系统中的利益相关者至少要有80%到90%支持这个EIP，否则它根本进不了网络。
But I think at the heart of it is that 90 8090% plus of the ecosystem of the stakeholders in the ecosystem need to be in favor of an EIP or as this is not going into the network.
所以是的。
So yeah.
总之，你可以读一下朱利安的这个帖子。
Anyway, you can give this thread from Julian a read.
我会在下面的YouTube描述中附上链接。
I'll link in the YouTube description below for you to do so.
好了。
Alright.
最后一点，我之前提到过。
Last up here, I did mention this earlier.
因此，贝莱德的质押ETHETF现已上线。
So BlackRock's staked ETH ETF is now live.
我认为在美国，除了可能一些非常小的之外，没有其他质押ETHETF上线了。
I don't think there are any other staked ETH ETFs live, in The US, except maybe some really small ones.
贝莱德无疑是最大的，而且首发表现相当不错。
BlackRock is definitely the biggest by far, and had a pretty good launch here.
你可以看到彭博社的詹姆斯表示，首日交易的大部分已完成，贝莱德质押以太坊ETF的交易量达到1550万美元。
You can see James from, Bloomberg said that the majority of the trading of the first day is done and $15,500,000 in trading volume for the BlackRock stake Ethereum ETF.
对于一个ETF的首日发布来说，这非常非常强劲。
Very, very solid for a day one ETF, launch.
是的。
So yeah.
我的意思是，现在它已经上线了，朋友们。
I mean, it's out there now, guys.
我觉得，即使目前收益率相对较低，但这种低是相对于我们而言的，你还是会看到大量资金流入这只产品。
Like, I I think you're gonna see a lot of inflows into this thing, even though the yields are kind of lower, I guess, these days, but that's low relative for us.
我记得以太坊质押收益率曾超过10%，但那不可能持续下去。
I remember when the ETH staking yield was above 10%, but it was never going to last.
随着越来越多的以太坊被质押，每个人的收益率都会下降，除非交易费能跟上——但事实是，这根本不可能发生，原因我之前已经解释过了。
Like as more ETH gets staked, the yield goes down for everyone, unless fees can kind of catch up, you know, keep up with it, which just hasn't because it's just not that it's just not going to happen for reasons I've outlined before.
我就不在这里重复了，但我仍然认为，3%的以太坊收益率非常有吸引力，尤其是如果你已经持有以太坊，那为什么不把它质押起来呢？
I'm not going to rehash that here, but I still think like 3% on on ETH is very appealing, especially because, like, if you're already owning ETH, then why wouldn't you stake it?
当然，这又引发了关于质押中心化的问题，比如有多少ETH被质押了。
Now, of course, this brings up the questions around, like, staking centralization again, like how much, you staked ETH.
质押的ETH太多了，诸如此类的问题。
Too much staked ETH, so on and so forth.
但我已经在Refuel上把这个问题讨论得够多了。
But I've discussed that to death on the Refuel.
所以，我这里就不重复了，但我会持续关注这一情况。
So again, I'm not gonna rehash that here, but monitoring the situation.
对吧？
Right?
我们来看看那里会发生什么。
We're gonna see what happens there.
我的意思是，ETH的质押量又在上升了，想想看。
I mean, ETH stake is going up again, think.
如果我在这里快速给你们看一下staking仪表盘，就为了让大家了解Hill Dobby那著名的ETH质押仪表盘。
If I bring up the staking dashboard here just quickly for you guys to stay at Hill Dobby's infamous infamous ETH staking, dashboard.
你可以看到，实际上并不是这样。
You can see here that, you know, it's actually not.
实际上，它仍然低于之前的水平。
It's actually still down from where it was.
我的意思是，我们曾在一月份达到约3920万ETH的峰值，而现在下降到了3780万ETH。
I mean, we peaked at like 39,200,000.0, ETH that was in like January and we're down to 37,800,000.0.
所以，是的，我们这里仍然下降了不少，朋友们。
So, yeah, we're down quite a quite a bit still here, guys.
而且，说实话，我很高兴看到这种情况，我不认为我们需要更多的ETH。
And, yeah, I'm I'm actually glad I'm glad that that is like I I don't think we need more ETH to be honest.
所以我很高兴事情正在朝这个方向发展。
So I'm glad that's that's kind of, what what's going on.
而且你可以看到，过去一个月，ETH质押一直处于净流出状态。
And you can see actually over the past month, it's all just been net outflows of of ETH stake.
过去六个月，前11大质押实体总体仍是净流入，但过去一个月，几乎所有其他参与者都是净流出，说实话，我对此并不担心。
The past six months is still net inflows for the top 11, staking entities, but for pretty much everyone over the last, month, it's been outflows, which I'm not having too much of an issue with, to be honest.
我觉得这样也没问题。
I I think that's okay.
显然，我们不知道这些ETH去了哪里。
Obviously, like, we don't know where that ETH's going.
你知道，它们是被卖掉了吗？
You know, is it being sold?
还是只是被当作普通ETH持有？
Is it just being, you know, held as normal ETH?
比如，他们只是因为持有ETH只能获得2%到3%的收益吗？
Like, are they just over, like, getting only two to 3% on their ETH?
谁知道呢？
Who knows?
但你知道，现在价格正在上涨，所以我不确定。
But, you know, price is going up right now, so I don't know.
比如，这似乎并没有影响价格，至少在过去三个月里，确实有点影响，但你也可以把价格下跌归咎于无数其他因素。
Like, it doesn't, you know, it doesn't seem to have affected price over the last well, over the last three months, kinda has, but then you could blame, like, its price going down on a million different things.
你看，这里的事情真的永远说不准，各位。
Like, it's you never really know here, guys.
但没错，这就是目前以太坊质押情况的快照。
But, yeah, that's that's the kind of snapshot here, of of the ETH staking as it is today.
正如我所说，我会持续关注这个情况。
As I said, monitoring the situation, gonna keep tabs on that.
但我认为，今天这一集就到这里了。
But I think for today, that's gonna be it for this episode.
所以，谢谢大家收听和观看。
So, yeah, thank you everyone for listening and watching.
如果还没订阅的话，记得订阅频道。
Be sure to subscribe to the channel if you haven't yet.
给视频点个赞，订阅通讯，加入Discord频道，我们下周再见。
Give the give the video a thumbs up, subscribe to the newsletter, join the Discord channel, and I'll catch you all next week.
谢谢大家。
Thanks, everyone.
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