current position:Home>Ethereum Q3 2022 Report: Mergers usher in a new era

Ethereum Q3 2022 Report: Mergers usher in a new era

2022-09-22 12:32:47Sina Finance-Blockchain

  本文转自公号:老雅痞(laoyapi)

  编译:RR

  信息来源自messari,略有修改,作者Tom Dunleavy,Kunal Goel

  主要观点

  以太坊简介

  The etheric fang block chain network is a decentralized data storage and transaction verification platform.Its smart contracts and breakthrough introduction of virtual machines on the network to create a decentralized Turing completeness software solutions.Hundreds of thousands of separate tokens and applications based on Ethernet fang block chain.The agreement in the development of the depth of decentralized financial ecosystem after received wide acceptance,Also recently developed a number of interestingWeb3用例.该协议于2022年9月15Transition from work to prove the rights to prove.如今,The etheric fang is the world's second largest encryption currency.

  关键指标

  性能分析

  Quarter window

  加密市场在2022In the third quarter rebound,Some sex fromTerraAnd in the second quarter of macro recovered triggered the collapse of the.从价格角度来看,The etheric currency performance,Because users will bring merger may drop and accumulate cash assets.9月15日,Ethernet fang successfully carried out from the work proved that(PoW)到权益证明(PoS)The consensus of the change. This change is the biggest platform for the intelligent contracts opened a new era.合并后,Block reward every day from about13500 ETH下降到2000 ETH,This greatly reduces the network security spending.

  The etheric fang active address basic remain stable and trading,Quarterly change relatively small.Although address and volume may be widely used as the encryption currency and increase,But the etheric lane will be extended from the second solution,Rather than performance stronger base layer.

  The agreement of the drop in revenue attributable to encrypt the bear、L2The increase in volume and contract agreementgas效率升级.因此,In the third quarter of the total costs plunged,降至2020年以来的最低水平.If these costs continue to drop in the second half of the year,Will directly affect the combined pledge yield.

  网络性能

  自2021年8月实施EIP-1559以来,Keep the etheric fang trade several basic range.在EIP-1559之后,Whenever the block filling amount above or below target limit,下一个区块的gasFee will be change to the opposite direction.The new set through the transaction costs to absorb the difference,Effectively reduced the number of each block trading differences.

  在这一季度,日均交易量为120万笔,较上一季度增长6%.ETH转账和DeFiTrade growth respectively7%和14%,日均交易量达到41.5万笔和8.2万笔.另一方面,NFTAnd across the chain bridge trading volumes fell in.NFTTrading in the current quarter fell17%,达到每天18.1万笔,Across the chain bridge trading down41%,达到每天9000笔.

  Natural activities address also follow a similar pattern to deal.This quarter's daily active address is55万,比上一季度增长了5%.增长的主要原因是2022年7月27A surge of active address,The etheric fang was a famous minersChandler GuoAnnounced the etheric fangPoWY plan,And some COINS Ann's purse“维护活动”.最重要的是,These activities is probably not as new users into,Not because there is a new application.

  在此期间,The etheric fang supply growth0.7%,年化增长率为4.2%.All of the inflation fromPoW奖励,Because the consumption of basic cost slightly higher than the beacon chain reward inflation.

  自2020年以来,智能合约中的ETH一直呈上升趋势,The assets are increasingly used toDeFi和其他应用.This makes centralized exchange held byETH逐年减少.然而,TerraThe collapse of the seems to have eroded the people to the intelligent contract,Even for the whole ecosystem of trust.就在TerraThe collapse of the same day,2022年5月9日,智能合约中ETH的比例达到了30%的峰值,Has been declining after.8月底,Smart contractETH为27%,较6月底下降了2%.

  市场指标

  不出所料,With the combined determination of time,Traders bullish bets in the third quarter increased.Because the official target block difficulty Settings in7月中旬,This suggests that the merger date for9月中旬,Therefore each exchange buying volume increased steadily.8The end of the month than6At the end of the month level has more than doubled.

  A rise in the buying and selling than.Execution of buying price in9月30日到期的5000美元和12月30日到期的2500Dollars highest level.过去几个月,ETH的价格在1500美元左右徘徊,This should be done at that time these bets.The execution of these purchases prices suggest,Many gamblers targeting in9On the contract(也就是说,预计ETHPrice will rise more than twice as likely to),While more fundamental investors value12月的合约.

  As the change of mood and etheric currency price slowly rising,Volatility tends to fall.The etheric currency throughout the7月和8A much smaller range on the.After a very challenging in the second quarter,The whole encryption currency and the absolute volatility in the stock market fell.The etheric lane and the correlation of the currency in a90%左右,Compared with the standard & poor's500Correlation index fell slightly.

  第2层分析

  以太坊以rollupAs the center of the expansion plans came true at last.Although the etheric fang average transaction number may remain within the range,但L2Trade has increased significantly in the.ArbitrumThe average volume increased by almost three times as,从2022年1月的3.9万笔增至2022年8月的11.5万笔.在同一时期,OptimismVolume also from4.1万笔增加到14.2万笔,增长了近3.5倍.

  The bottom layer of emerging ecosystem is drivingL2的活动.L2The use of application have attracted real and attention,即Arbitrum的GMX和Optimism的Synthetix.These applications are also their respective platformsTVL的最大驱动力之一.

  This year there will be more to promoteL2Growth and the catalyst:

  These tokens with drop issue is of the most important events in the ecosystem.They promote the use of platform,Investors and helped create the user community.然而,This might eventually is an unsustainable ways.The ecosystem need to create an organic users use to long-term prosperity development.

  行业分析

  去中心化交易所(DEX)

  在第二季度,DEX的日均交易量为27.8亿美元.在第三季度,这一数字降至18.3亿美元.In sequential sales also fell to about8亿美元.UniswapThe dominance of from the second quarter60%上升到8月底的72%.UniswapIn the third quarter of the entire market share has been in aDEX的75%左右.值得注意的是,尽管CurveThe incentives introduced above competitors,但其市场份额却从16%下降至8%.

  借贷

  In the third quarter of the average loan size has fallen dramatically.Average daily turnover from the second quarter2800亿美元降至1160亿美元.7A month, and the slowdown in the,但在8月略有回升,Because want to getETH POWPersonal to spotETH的需求有所增加.

  NFT

  尽管NFTThe average daily volume plunged,But the average daily number of traders by much smaller.This indicates that the user viscosity based on every day4万左右.In dollar terms volumes1月份下降了90%.In the third quarter of the average monthly sales less than10亿美元,而第二季度为46亿美元.This decline is not only withNFTSlowdown on,Also with the mostNFTUse the monetary baseETHPrices fell on.OpenSeaContinue to dominate the market share in the third quarter.

  SudoswapIn the third quarter to launch.它通过为NFT创建类似于Uniswap的流动性池,为NFTThe market provides a new Angle of view.Though trading volume appears to have been in8月份见顶,但如果NFTThe market downturn trend reversal,sudoswapWill concern.

  稳定币

  A stable currency is decentralized liquidity in the financial ecological system.The turning and etheric lane has a close correlation between the overall value of.Although a stable currency movements and the overall volume and flat in the second quarter,But there are many possible forDeFiThe important impact on development activities it is worth noting that:

  Circle对Tornado CashAddress does not favor the ban.本季度,USDC市场份额从44%下降到41%.Drop is mainly composed ofBUSD吸收,其市场份额从14%增加到16%.

  Mergers and transition to the rights to prove

  After the fanfare of publicity,合并于2022年9月15Successful.The verifier's exit and block fault is limited by the,User and application is not affected by.The miners have created a called the etheric fang work proved that(ETHW)The continuity of work proved that y,在撰写本文时,It in the futures market trading price of market value about the etheric fang1%.The chain with no support from the user,Infrastructure providers support is limited.Start the deal team co-ordination failure seems to be the fate of the doomed from the start it.

  合并后,Block reward reduced90%.This greatly reduces the network inflation,And reduce its annual security spending.If the etheric fang used from the beginning of this quarterPoS,Then its net supply will deflation than verifier rewards more energy1600个ETH.

  向PoSTransition also significantly reduces the etheric fang99.95%的能源消耗.The merger will further ease of using Ethernet fangESG担忧.This will provide more organizations will beETHOperates as an investable assets or use the Internet itself open the door.早些时候,像Mozilla、DiscordAnd tesla such well-known organization has stopped because of environmental problems they block chain adoption plan.

  在这两个月的时间里,To beacon chain inflows slowed markedly,仅增长了4%,And the second quarter growth17%.This is the main reason of the low growth,The largest pledge derivatives——Lido的stETHThe current market price is lower than the spotETH.As long as there is value,By the user on the secondary market to buystETHGet exposure to pledge will than direct investment to get more profits in the etheric fang.In the large centralized provider of pledge,CoinbaseAnd currency pins a growth4%,Although their pledge derivativescbETH和BETHThe market price is lower thanETH.In the middle of a liquidity pledge derivatives,Lido增长了1%,达到了420万ETH的质押,Rocket Pool增长了11%,达到了21.8万ETH质押.

  竞争分析

  The etheric fang andL2Ecosystem encryption intelligent contract totalTVL的62%.The etheric fang contributedTVL的最大份额,为340亿美元,而Arbitrum和OptimisticThe only contribution to the10亿美元.以太坊的TVLSince the end of the second quarter increased by only8%,但Arbitrum和OptimisticThe quarterly growth respectively33%和224%.

  On a longer scale,自2021年初以来,The etheric fang andL2在TVLContinued to decline as a share of.2022In the second quarter is an exception,TerraLed to the collapse of the etheric fang andL2的份额增加了8%.

  The etheric fang key moat of ecosystem is its prosperity the developer of the landscape and the virtual machine in the leading position of the encryption money.The ecosystem with the number of active developers almost every week and the sum total of the next four ecosystems as much.在熊市中,The etheric fang development activities better than other ecosystems support down,The share more than last year10%.

  定性分析

  监管

  Although the regulation has been encrypted monetary industry a potential problem,But in the third quarter of action more than ever.U.S. government agencies will be9At the beginning of biden's administrative commands to respond,This command outlined the agencies“Deal with digital assets and the basic technology risk and make use of its potential benefits”的方法.But many institutions did not abide by the deadline,相反,This quarter's big news is the office of foreign assets control(OFAC)Sanctions the privacy agreementTornado Cash的智能合约.This action makes any citizen of the United States and the agreement to interact will become illegal.这是OFACSanctions against any entity other people for the first time.

  The decision triggered fromInfura和AlchemyCritical infrastructure providers such asTornado Cash Address review wave.The incident sparked in the etheric lane community about real decentralized broader discussion.The user can still access the run their nodeTornado Cash,But the vast majority of users rely on third-party infrastructure providers access block chain.简单地说,If one of the most popular wallet doesn't allow the user to interact with an intelligent contract,This agreement is inaccessible to most users are basically.Lido、Coinbase、KrakenAnd other companies seem to followOFAC,They now account for verification collection of66%以上.

  If the decision to further expand the influence of,像Circle (USDC)So the stability of the currency operators may like banking institutions by the government regulation,Regulators of a simple command can require the operators banned a portion of the address.This kind of situation will basicallyDeFiUnder the government's direct jurisdiction of the.USDC监管是Maker特别关注的问题,其稳定币DAI由大约30%的USDC支持.Maker正在考虑USDC的替代品,其中包括ETH.

  A smart sanctions contracts forDeFiAnd the whole field of encryption has a major impact on.This decision immediately raised worries about the government's excessive.Democracy is one of the key principles of due process rights,How can smart contract in court get chance?How will it for yourself?Any technology can be according to the precedent set by the decision by the government to ban?These are a wide range of legal issues,In the coming months and several years at the highest level of ruling by the court.CoinbaseOpen the prelude of the next chapter,为6The sanctions and the accusedTornado CashAddress interact with the user to provide financial support.

  The next step in the road map

  At the completion of the etheric lane after the main steps in the roadmap,Developers can put all the attention on the extended network to achieve global use.Developers are now looking forward toShanghai的升级,It promised to deal for a number of improvement.最重要的是,ShanghaiPeople who will allow the pledge to withdraw.

  ShanghaiUpgrade may contain another proposal isEIP-4844.该提案将使L2Will be released their trading to the etheric fangL1Several orders of magnitude has reduced the cost of,The etheric fang experience for all users with cheaper.EIP-4444也可能被列入Shangha.It will cover some trading in a year to delete history.Do not download the history record will greatly reduce the node resource requirements,Therefore will enable more people to run the node,And further make the decentralized network.

  从2023年底到2024年,The etheric fang is expected to passdanksharding进一步扩展,This is the realization of data fragmentation before an interim step.随着L2解决方案、EIP-4844和danksharding数量的增加,在未来12-18个月内,The etheric lane may get on99%The users quick and cheap enough.

  总结

  Despite the encryption monetary bear,But still the etheric fang is the most dynamic ecosystem in the area of encryption,It has most of the developers、The user and application activities.向PoSThe success of the transition should only will help promote further attention to deal.随着新的L1挑战者Aptos、Sui和CelestiaIn the fourth quarter to launch,The etheric lane will have to continue to build a moat,To speed up the roadmap,To maintain the leading position in the field of intelligent contract.

责任编辑:张靖笛

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