Ranar da Ethereum ta mutu, ta fuskar ƙimar haɓaka, ƙila ita ce rana da ta daina a maimaita ta.
A ranar 15 ga Satumba, 2022, Ethereum ta kammala The Merge kuma ta koma daga proof of work zuwa proof of stake. A fasaha, wannan na ɗaya daga cikin manyan haɓakawa a tarihin crypto. Amfanin makamashi ya ragu sosai. Fitar da ETH ta ragu da sauri. Staking ya zama sabon tsarin tsaro. Masu haɓaka sun kira hakan ci gaba.
Amma idan aka zo ga haɓakar farashi, muhawarar ta fi daban.
Kafin The Merge, Ethereum ta girma ƙarƙashin proof of work. Masu hakowa (miners) na da kuɗaɗe. Suna siyan injina, suna biyan wutar lantarki, suna fafatawa don samun ladan block, kuma hakan ya ƙirƙiri ainihin buƙatar masana'antu a kusa da ETH. Kamar Bitcoin, Ethereum na da tattalin arzikin samarwa. Kasuwa na iya fahimtar karanci, matsin lambar hakowa, da farashin ƙirƙirar sabbin kuɗi.
Bayan proof of stake, abubuwa sun canza.
ETH ta zama fiye da harkar kuɗi (financialized). Maimakon miners su yi faɗa don samar da sabuwar ETH, manyan masu riƙe da ke da ETH a hannu za su iya yin staking da ita ta yadda za su samu ƙarin ETH.
Bitcoin har yanzu yana da proof of work, halvings, mining difficulty, farashin makamashi, da kuma labari mai sauƙi na karanci. Ethereum kuwa yana da staking rewards, liquid staking, restaking, haɓakar layer two, ayyukan DeFi, da amfani da smart contract. Waɗannan suna da ƙarfi, amma sun fi rikitarwa. Rikitarwa na iya gina fasaha, amma sauƙi yawanci na gina ingantaccen imanin kasuwa.
Wannan ba yana nufin Ethereum ba ta da amfani ba. Ethereum har yanzu ita ce kan gaba a smart contracts, DeFi, ayyukan stablecoin, tokenization, da kuma yawan tunanin masu haɓakawa. Amma haɓakar farashi ba wai kawai game da fasaha ba ce. Hakanan game da labari (narrative), karanci, buƙata, da halayyar masu saka jari.
Proof of stake na iya sanya Ethereum ta fi inganci, amma kuma ta canza ETH daga dukiyar da ake hakowa zuwa dukiyar da ake samun riba (yield asset). Wannan ya canza yadda kasuwa ke kimanta ta.
Ko da kuwa The Merge ce babbar sabuwar fasahar Ethereum. Ko kuma itace lokacin da ETH ta rasa labarin guda ɗaya da zai iya sa ta yi “pump” kamar Bitcoin.
Me kake tunani, shin proof of stake ya ceci Ethereum, ko kuwa ya yi rauni a hankali ETH a matsayin dukiyar haɓakar farashi ta dogon lokaci?
#Ethereum #bitcoin #proofofwork #ProofOfStake