以太坊（ETH）Pectra更新在2025年第一季度关闭，2018年以来最糟糕的盈利能力

长期以来，以太坊一直是模因带有悲伤的话题。该网络在今年第一季度关闭，盈利能力最差

For a long time, Ethereum has been a topic for memes with a touch of sadness. The network closed the first quarter of this year with the worst profitability since 2018. During the first three months of 2025, Ethereum faced a record number of sales. Despite all this, ETH remains a key player in the cryptocurrency world and the second-largest token after bitcoin with a market capitalization of $235.87 billion.

长期以来，以太坊一直是模因带有悲伤的话题。该网络在今年第一季度关闭，自2018年以来最糟糕的盈利能力。在2025年的前三个月中，以太坊面临着创纪录的销售量。尽管如此，ETH仍然是加密货币界的关键人物，也是仅次于比特币的第二大代币，市值为2358.7亿美元。

Despite the wave of popularity of other blockchains, such as Solana (due to the speculative hype around memecoins), Ethereum continues to demonstrate stable development. Its strengths are powerful Layer 2 projects, an active developer community, and a reliable reputation.

尽管其他区块链（例如Solana）（由于围绕Memecoins周围的投机性炒作）的流行浪潮，但以太坊仍在继续证明稳定的发展。它的优势是强大的第2层项目，一个活跃的开发人员社区和可靠的声誉。

Should we expect a powerful jump in Tuzemun after the Pectra update, which finally took place on May 7? This is the largest network upgrade since The Merge in 2022 (and the 19th overall). It promises technical improvements, new opportunities for businesses, investors, and users.

我们是否应该期望在5月7日发生Pectra更新后，Tuzemun有强大的跳跃？这是自2022年合并以来（以及第19位）以来最大的网络升级。它有望为企业，投资者和用户提供技术改进，新的机会。

Finally. It has come true!

最后。它已经实现了！

Update the Ethereum blockchain network's Pectra (short for Prague and Electra) is a two-layer upgrade that simultaneously improves the Execution Layer and Consensus Layer of Ethereum. It consists of 11 major Ethereum Improvement Proposals (EIPs) aimed at improving the efficiency, security, and scalability of the network.

更新以太坊区块链网络的pectra（布拉格和伊莱克特拉的缩写）是两层升级，同时改善了以太坊的执行层和共识层。它由11个主要的以太坊改进建议（EIPS）组成，旨在提高网络的效率，安全性和可扩展性。

The most important changes:

最重要的变化：

* The introduction of account abstraction (EIP-7702) allows users to pay gas fees with any token.

*账户抽象的引入（EIP-7702）允许用户向任何令牌支付汽油费。

* The update will combine small assets into one transaction and process a package of actions (for example, deposit, loan, and exchange in one block; EIP-8049).

*该更新将将小资产合并为一项交易，并处理一揽子措施（例如，存款，贷款和在一个街区中； EIP-8049）。

* Recovery of a crypto wallet will be possible without a seed phrase, for example, using biometric authentication (EIP-6893).

*如果没有种子短语，可以使用生物识别验证（EIP-6893）恢复加密钱包。

* Decentralized applications (dApps) can now set spending limits (EIP-7875).

*分散的应用程序（DAPP）现在可以设置支出限制（EIP-7875）。

As a reminder, in 2022, along with The Merge update, the network switched from the Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). Unlike PoW, in which validation is performed through complex mathematical calculations, i.e. mining, in PoS, the creator of the next block is selected based on the amount of cryptocurrency he or she owns.

提醒您，在2022年，与合并更新一起，网络从工作证明（POW）共识机制转换为验证证明（POS）。与POW不同，在POW中，通过复杂的数学计算进行验证，即采矿，在POS中，根据他或她拥有的加密货币的数量选择了下一个块的创建者。

In general, the new changes optimize the network and make Ethereum more attractive to corporate clients. Previously, Ethereum Foundation (EF) restructures leadership and announces planned Pectra update on May 7. This has led to an increase in blockchain activity.

通常，新的更改优化了网络，并使以太坊对企业客户更具吸引力。以前，以太坊基金会（EF）进行了重组，并宣布计划于5月7日更新Pectra。这导致区块链活动的增加。

What’s wrong with Pectra?

Pectra怎么了？

Pectra was supposed to be implemented in March. But during testing, Ethereum encounters technical problems on the Sepolia network. An unknown attacker discovered a serious vulnerability, so the update was postponed for two months.

Pectra应该在3月实施。但是在测试过程中，以太坊在塞波利亚网络上遇到了技术问题。一名未知的攻击者发现了一个严重的脆弱性，因此更新被推迟了两个月。

One of the main features of the Pectra update is account abstraction (EIP-7702). This functionality allows paying gas fees with alternative tokens. However, users are concerned about a possible decrease in the security of smart contracts and wallets. Users will have to double-check several times when signing transactions on the Ethereum network.

Pectra更新的主要功能之一是Account Accort Actraction（EIP-7702）。此功能允许使用其他令牌支付汽油费。但是，用户担心智能合约和钱包的安全性可能会降低。在以太坊网络上签署交易时，用户将不得不多次检查。

This applies not only to this blockchain, it is a general recommendation. But every time, owners lose huge amounts of money because they sign without looking and checking the message. It is also worth switching to wallets with advanced security measures.

这不仅适用于此区块链，而且是一般建议。但是，每次车主都会损失大量的钱，因为他们在没有查看和检查消息的情况下签名。还值得改用具有高级安全措施的钱包。

Charles Hoskinson, the founder of the Cardano blockchain network, who also co-founded Ethereum, believes that despite all the steps, Ethereum will not last more than 15 years. In his opinion, the network has the wrong accounting model, the wrong virtual machine, and the wrong consensus model. Hoskinson also criticized second-tier solutions, which, according to him, have become parasites of Ethereum.

Cardano区块链网络的创始人查尔斯·霍斯金森（Charles Hoskinson）也共同创立了以太坊，他认为，尽管采取了所有步骤，但以太坊的持续时间不会超过15年。他认为，该网络的会计模型错误，虚拟机和错误的共识模型。霍斯金森还批评了二线解决方案，据他说，该解决方案已成为以太坊的寄生虫。

Analysts see the positive

分析师看到积极的

Pectra won’t make the ETH price 10x tomorrow, but it will have a positive impact eventually.

Pectra明天不会将ETH价格10倍，但最终将产生积极的影响。

Over the past 24 hours, the network's token price has increased by 6.56% — to $1,956. This is not much and is far from the record high of $4,891. However, this is already a noticeable rise after a long stay in the $1,500-$1,800 zone.

在过去的24小时内，该网络的代币价格上涨了6.56％，达到1,956美元。这并不多，距离$ 4,891的纪录高度很远。但是，在$ 1,500- $ 1,800的区域长期住宿后，这已经显着上升。

Last year, JPMorgan experts noted that the Pectra update will strengthen Ethereum's operational efficiency, provide greater institutional adoption, and retail adoption. UX improvements and simplification of smart contracts will attract new projects to the Ethereum ecosystem. EIP-7742 and EIP-7691 will reduce costs and improve rollup performance, which is essential for network scaling.

去年，摩根大通专家指出，Pectra更新将增强以太坊的运营效率，提供更大的机构采用并采用零售。 UX的改进和简化智能合约将吸引以太坊生态系统的新项目。 EIP-7742和EIP-7691将降低成本并提高汇总性能，这对于网络扩展至关重要。

CryptoQuant analysts emphasize that ETH is extremely undervalued compared to BTC. This is the first time since 2019. Usually, this indicator would lead to Ethereum outperforming bitcoin. However, supply-side pressure

加密分析师强调，与BTC相比，ETH被低估了。这是自2019年以来的第一次。通常，此指标将导致以太坊的表现优于比特币。但是，供应侧压力