【$ETH Upgrade Privacy Agreement to Bullish 8500】
Ethereum 'Merge' One Year Anniversary: After Miners Disappeared, Who is in Control of Your Asset Security?
One year ago, when global mining machines collectively shut down, most people only felt that 'electricity costs were saved.' But the real power game has just begun.
In the past, security relied on burning electricity — your transactions were protected by Sichuan hydropower and Texas natural gas. Now, security relies on staking — starting with 32 ETH, attacking the network? First, prepare hundreds of billions of dollars, and the more you buy, the higher the coin price.
Three silent revolutions have occurred:
1️⃣ Energy consumption plummeted by 99.95%: emissions dropped from small countries to campus level, and the environmental card can finally be played.
2️⃣ Capital perpetual motion machine started: ETH is no longer a consumable, but has turned into an income-generating asset. 4% annualized + deflationary expectations, regarded as 'digital treasury bonds' in the eyes of traditional funds.
3️⃣ Great power shift: mining field owners exit, staking giants enter. Service providers like Lido control nearly one-third of staking rights, and new centralization controversies continue.
The harshest truth: security has shifted from 'physical hard constraints' to 'game theory games.' Code is law, but the law always has loopholes.
💥 Current core contradictions:
· 25% staking rate, is it a liquidity black hole or a value cornerstone?
· The power of Lido and others, is it a necessary compromise or a fatal risk?
· Can 4% returns in a rate-cutting cycle attract traditional funds?
Are we heading towards a more equitable future, or are we building digital feudalism? Waiting for your real views in the comments section.
