以太坊正在经历宽带时代

如果我们从企业的角度看待以太坊，它会是一家什么类型的公司？看看手头的最新数据，这些数字表明

Despite a drastic 57% decrease in revenue during Q2 2024, with transaction fees dropping by $679 million compared to the previous quarter, viewing Ethereum's performance through a corporate lens reveals a deeper narrative than a simple crisis.

尽管 2024 年第二季度收入大幅下降 57%，交易费用较上一季度下降 6.79 亿美元，但从企业角度观察以太坊的表现，揭示出比简单危机更深刻的故事。

The recent figures show a sharp decline in Ethereum's revenue, dropping from $1.2 billion in Q1 2024 to $521 million in Q2. This downturn is particularly notable considering Ethereum's impressive 85% quarter-over-quarter revenue gain in Q1 2024, during which the network's transaction fees reached $1.2 billion, up 155% year-over-year.

最近的数据显示，以太坊的收入急剧下降，从 2024 年第一季度的 12 亿美元降至第二季度的 5.21 亿美元。考虑到以太坊在 2024 年第一季度收入环比增长 85%，令人印象深刻，这一下滑尤为引人注目，在此期间，该网络的交易费用达到 12 亿美元，同比增长 155%。

During the first quarter of 2024, as the price of Ethereum soared above $3,000, approaching its all-time high, some users encountered پرداخت بیش از 100 دلار برای هر تراکنش. The average gas fee for an ETH swap was around $79, with some users reporting fees as high as $400 in February.

2024年第一季度，随着以太坊价格飙升至3000美元以上，逼近历史新高，一些用户遭遇了100美元的暴跌。 ETH 互换的平均 Gas 费约为 79 美元，一些用户报告 2 月份的费用高达 400 美元。

This period also saw rapid growth within the ecosystem, but it brought attention to some increasing problems.

这一时期生态系统也经历了快速增长，但也引起了人们对一些日益增多的问题的关注。

The Impact of EIP-4844 Upgrade

EIP-4844 升级的影响

What happened in the second quarter to cause this shift? A major factor was the March 2024 activation of Ethereum Improvement Proposal (EIP) 4844. This upgrade introduced 'proto-danksharding,' a temporary data blob that reduces Layer 2 transaction fees.

第二季度发生了什么导致了这种转变？一个主要因素是 2024 年 3 月以太坊改进提案 (EIP) 4844 的激活。此升级引入了“proto-danksharding”，这是一种可以降低第 2 层交易费用的临时数据 blob。

With this update, Layer 2 (L2) solutions became much more scalable, able to handle more transactions at a fraction of the cost. It was like a small business suddenly gaining access to wholesale prices - more capacity, less immediate revenue.

通过此更新，第 2 层 (L2) 解决方案变得更具可扩展性，能够以很少的成本处理更多交易。这就像一家小企业突然获得批发价格——产能增加，直接收入减少。

But here's the catch: while L2s like Base and Arbitrum performed well, the "rent" they paid to Ethereum dropped significantly. This decrease in income isn't a sign of weakness; it points to a strengthening ecosystem poised for further growth.

但问题是：虽然 Base 和 Arbitrum 等 L2 表现良好，但它们向以太坊支付的“租金”却大幅下降。收入的下降并不是软弱的表现；而是表现。它表明生态系统正在不断加强，有望进一步增长。

With lower fees and increased capacity, Ethereum is now positioned to attract a broader user base and encourage more activity on the network. Despite the revenue decline, there are clear signs that Ethereum is on the right track for long-term success. In Q2 2024, Layer 2 transactions increased by 63%, and active users saw an 81% rise.

随着费用的降低和容量的增加，以太坊现在能够吸引更广泛的用户群并鼓励网络上的更多活动。尽管收入下降，但有明显迹象表明以太坊正走在长期成功的正确轨道上。 2024 年第二季度，Layer 2 交易量增长 63%，活跃用户增长 81%。

Moreover, the reduction in transaction fees is making Ethereum more accessible to everyday users. As of Q2 2024, the estimated gas fees for various transactions have dropped considerably: a swap transaction now costs around $1.82, borrowing fees are at $1.52, NFT sale fees are $3.12, and bridging costs are just $0.60.

此外，交易费用的降低使以太坊更容易被日常用户使用。截至 2024 年第二季度，各种交易的预计 Gas 费用已大幅下降：掉期交易费用约为 1.82 美元，借款费用为 1.52 美元，NFT 销售费用为 3.12 美元，过渡费用仅为 0.60 美元。

This affordability is likely to drive further adoption and usage, laying the groundwork for a future revenue resurgence.

这种负担能力可能会推动进一步的采用和使用，为未来的收入复苏奠定基础。

The Bigger Picture: Ethereum’s Broadband Moment

大局观：以太坊的宽带时刻

As we zoom out, Ethereum's journey mirrors that of the early internet. Back then, dial-up access limited certain online activities. But as internet technology advanced, new possibilities like streaming and social media emerged.

当我们缩小视野时，以太坊的历程反映了早期互联网的历程。当时，拨号访问限制了某些在线活动。但随着互联网技术的进步，流媒体和社交媒体等新的可能性出现了。

Similarly, Ethereum's improved transaction handling capability is setting the stage for future growth. Despite the revenue decrease, it's paving the way for something bigger - Ethereum isn't going anywhere.

同样，以太坊改进的交易处理能力正在为未来的增长奠定基础。尽管收入下降，但它正在为更大的事情铺平道路——以太坊不会消失。

Today, it's hard to imagine a world without the internet, but its full potential was only realized years after broadband became widely available. Similarly, Ethereum's potential is being realized now.

今天，很难想象一个没有互联网的世界，但它的全部潜力直到宽带广泛普及多年后才被实现。同样，以太坊的潜力现在正在被实现。

Even though it means less money coming in for now, this increased capacity is necessary for future improvements that will help the ecosystem grow.

尽管这意味着目前的资金减少，但这种增加的容量对于未来的改进是必要的，这将有助于生态系统的发展。

It's worth noting that part of Ethereum's success in the first quarter of 2024 was due to higher transaction fees driven by increased network demand. However, relying on high fees for revenue isn't a sustainable long-term strategy. By reducing costs and boosting scalability, Ethereum is setting itself up for a more robust and diverse revenue stream in the future.

值得注意的是，以太坊在 2024 年第一季度的成功部分归因于网络需求增加推动的交易费用上涨。然而，依靠高额费用获取收入并不是可持续的长期策略。通过降低成本和提高可扩展性，以太坊正在为未来更加强劲和多样化的收入来源做好准备。

The numbers from Q2 2024 may seem alarming at first glance, but they reveal a deeper narrative of the network preparing for the next stage of its growth. This short-term decrease in Ethereum's revenue is part of a long-term plan to make the network more scalable, affordable, and accessible.

乍一看，2024 年第二季度的数据似乎令人震惊，但它们揭示了该网络为下一阶段增长做准备的更深入的叙述。以太坊收入的短期下降是长期计划的一部分，该计划旨在使网络更具可扩展性、负担得起和可访问性。

The real question isn't whether Ethereum will recover, but how quickly it will capitalize on its expanded capacity to drive the next wave of innovation and adoption in the crypto space.

真正的问题不是以太坊是否会复苏，而是它将以多快的速度利用其扩大的能力来推动加密货币领域的下一波创新和采用。