在動蕩之後，以太坊剛剛完成了一年多的最重要升級

多倫多 - 以太坊剛剛完成了一年多的時間，但里程碑是在區塊鏈的動蕩之後出現的。

TORONTO — Ethereum has completed its most significant upgrade in more than a year, a milestone that comes after a turbulent stretch for the blockchain. The price of ether (ETH) has declined, developers have migrated to rival platforms, and the Ethereum Foundation — a nonprofit steward of the project — has faced criticism for a lack of coordination and vision.

多倫多 - 以太坊在一年多以來完成了其最重要的升級，這是區塊鏈動盪不安的里程碑。以太（ETH）的價格下降了，開發商已遷移到競爭對手平台，以太坊基金會（該項目的非營利性管理人員）因缺乏協調和願景而面臨批評。

Speaking on a panel at CoinDesk's Consensus conference in Toronto, Paul Brody, global blockchain leader at EY and chairman of the Enterprise Ethereum Alliance, and Josh Stark of the Ethereum Foundation, offered a more optimistic view of the road ahead.

在Coindesk在多倫多共識會議上的一個小組討論時，EY的全球區塊鏈領導人兼Enterprise Ethereum Alliance主席Paul Brody以及以太坊基金會的Josh Stark提供了對未來道路的更加樂觀的看法。

There are two things the community is looking for, Stark said. First, "the ecosystem needs stronger leadership ... Stronger leadership on the roadmap, on executing that roadmap, and really help coordinating the ecosystem to tackle the big challenges."

斯塔克說，社區正在尋找兩件事。首先，“生態系統需要更強大的領導力……在路線圖，執行路線圖上的更強領導力，並真正幫助協調生態系統以應對大挑戰。”

Second, the network needs better messaging. "Ethereum's fundamentals are incredibly strong, but few people are standing up to tell the story of that ecosystem and to boost the incredible stuff being built," Stark said.

其次，網絡需要更好的消息傳遞。斯塔克說：“以太坊的基本面非常強大，但是很少有人站起來講述該生態系統的故事，並增強了令人難以置信的東西。”

For all its recent struggles, Stark and Brody maintained that Ethereum remains the most innovative and forward-focused project in crypto.

儘管最近的掙扎，但斯塔克（Stark）和布羅迪（Brody）堅持認為，以太坊仍然是加密貨幣中最具創新性和以前瞻性的項目。

Brody suggested that concerns about the foundation's leadership are particularly overblown, giving the Ethereum Foundation's former executive director, Aya Miyaguchi, top marks for her tenure, which began in 2018 and ended this year.

布羅迪（Brody）建議，對基金會領導層的擔憂尤其誇張，這使以太坊基金會的前執行董事艾亞·米亞古奇（Aya Miyaguchi）成為其任期的最高分數，後者始於2018年，並於今年結束。

"We're a proof-of-stake chain with more than 120 layer-2 networks," Broday said, adding that network capacity is "300 and 450 million transactions a day." Additionally, "transaction fees at the L2 level — they average under one penny per transaction for the last three months. If I step back and look at [Miyaguchi's] tenure very objectively in terms of the results, I would say A plus."

Broday說：“我們是一條擁有120層網絡的鏈條鏈條。”他補充說，網絡容量為“每天300和4.5億美元的交易”。此外，“在L2級別的交易費用 - 在過去三個月中，每筆交易的平均每筆交易平均低於一分錢。如果我退後一步，就結果非常客觀地看待[Miyaguchi]的任期，我​​會說一個加號。”

Miyaguchi transitioned to Ethereum Foundation president in March 2025, installing Hsiao-Wei Wang and Tomasz Stańczak as its new co-executive directors — part of a leadership restructuring aimed at enhancing the foundation's strategic focus.

Miyaguchi於2025年3月轉移到以太坊基金會主席，安裝了Hsiao-Wei Wang和Tomaszstańczak為其新的聯合執行董事，這是旨在增強基金會戰略重點的領導力重組的一部分。

Some critics have argued Ethereum's roadmap has relied too heavily on layer-2 rollups, which are independent blockchains that process transactions cheaply and quickly before "settling" their history on Ethereum's main chain. Brody defended the network's rollup-centric roadmap: "I'm delighted."

一些批評家認為，以太坊的路線圖過於依賴第2層的匯總，這是獨立的區塊鏈，在“在以太坊的主鏈上”“穩定”其歷史之前，便宜地處理交易。布羅迪為網絡以匯總為中心的路線圖辯護：“我很高興。”

While layer-2s like Optimism, Arbitrum and Coinbase's Base network have lowered users' fees — generally considered the main headwind to wider network adoption — skeptics say they also introduce new security risks and fragmentation hurdles that threaten Ethereum's fundamental value proposition.

雖然諸如樂觀，仲裁和Coinbase的基本網絡之類的第2層降低了用戶的費用（通常被認為是更廣泛的網絡採用的主要逆風，但持懷疑態度的主要逆風 - 他們還引入了威脅以太坊基本價值主張的新的安全風險和分散障礙。

"We're being Ethereum," Brody said. "Which is, identify a problem, fix it, and move on to the next problem. In terms of the biggest problem that we were dealing with over the last few years, it was scale, right? Going from being able to do a million transactions a day to 450 million network capacity is great."

布羅迪說：“我們是以太坊。” “哪個是確定問題，解決問題並繼續解決下一個問題。就我們過去幾年所處理的最大問題而言，它是規模，對嗎？

"All ecosystems are going to end up with something like an L2 roadmap with modularity and specialization," Stark added. "We're just the ones that have gone furthest down this path, and we found the twists and the turns and the challenges on that road, and we're dealing with them."

Stark補充說：“所有生態系統都將以模塊化和專業化為L2路線圖之類的東西。” “我們只是那些走上這條道路的人，我們發現了這條路上的曲折，轉彎以及挑戰，我們正在與他們打交道。”

Ether (ETH), the network's native token, has long been considered a blue-chip crypto asset. But in recent months, it has underperformed relative to some competitors. Network tokens are often viewed as a proxy for an ecosystem's overall health.

Ether（Eth）是該網絡的本地令牌，長期以來一直被認為是藍芯片加密資產。但是最近幾個月，相對於一些競爭對手而言，它的表現不佳。網絡令牌通常被視為生態系統整體健康狀況的代理。

Bitcoin has successfully positioned itself as a reliable store of value, Stark noted, helping it weather the market more favorably. "We have a more complicated narrative."

斯塔克指出，比特幣已成功地將自己定位為可靠的價值存儲，幫助它更加有利地保護市場。 “我們有一個更複雜的敘述。”

Still, Stark expressed confidence that the market would eventually reflect Ethereum's deeper value.

儘管如此，斯塔克還是對市場最終反映以太坊的更深價值的信心。

"The world's not going to stop learning about these technologies and these systems," Stark said. "The world is going to have an appetite for a slightly more complicated, but just as real value proposition. And I think we're starting to see that now. So I think that markets eventually price value. And I think that Ethereum is the most important project in crypto and always has been."

斯塔克說：“世界不會停止學習這些技術和這些系統。” “世界將對一個更加複雜的興趣，但就像真正的價值主張一樣。我認為我們現在已經開始看到它。因此，我認為市場最終的價格價值。而且我認為以太坊是加密貨幣中最重要的項目，並且一直都是。”