作者|AaronHay
by Aaron Hay
编译|Jhonny
Written by Johnny
作为以太坊项目的追随者和支持者，我一直支持围绕以太坊网络开发和升级的有益讨论。本文的目的是向读者呈现当前围绕以太坊2.0的ETH迁移设计所采用的单向桥接模式(one-waybridge)所涉及的经济优点和挑战进行深入讨论。
As a follower and supporter of the ETA project, I have supported useful discussions around the development and upgrading of the ETA network. The aim of this paper is to present readers with an in-depth discussion of the economic advantages and challenges of the current one-way bridge model (one-waybridge) around ETA 2.0 ETH migration design.
在我看来，以太坊既涉及到技术，同时也涉及到金融，因此随着向以太坊2.0过渡的接近，需要同时考虑技术和经济上的挑战，并对两者进行同等地审查，这是非常重要的。
In my view, it is important that both technology and finance be taken into account as the transition to Ether 2.0 approaches, taking into account both the technical and economic challenges and examining the two equally.
从技术角度看，单向桥接(one-waybridge)和双向桥接(two-waybridge)的可行性都得到了很好地研究，但当前还没有很好地就ETH单向迁移的经济设计的优势和挑战进行讨论，且到目前为止，针对单向桥接的经济方面的讨论也非常有限。
Technically, the feasibility of single-way bridges (one-waybridge) and two-way bridges (two-waybridge) has been well studied, but discussions on the advantages and challenges of the economic design of single-way ETH migration have not yet been well developed, and discussions on the economic aspects of single-way bridges have so far been very limited.
截至目前的讨论
Discussion up to date
目前，以太坊开发者社区已经达成共识，计划将当前Eth1.0链上的ETH通过单向桥接的方式迁移成为到Eth2.0链上的ETH。
At present, a consensus has been reached in the Taiwan Developer Community to move the current Eth 1.0 chain ETH through a one-way bridge to the Eth 2.0 chain.
此外，也有一些开发者支持双向桥接的方式，以及一些有关将来可能通过本地集成的方式将Eth1.0链集成到Eth2.0链之中的讨论，但鉴于当前的Eth2.0规范，本文将围绕单向桥接模式的经济学层面展开论述，并介绍几个我认为在这种模式下至关重要的经济激励措施。
In addition, there are a number of developers that support two-way bridges, as well as some discussions about the possible future integration of the Eth 1.0 chain into the Eth 2.0 chain through local integration, but given the current Eth 2.0 norm, this paper will address the economic dimension of the one-way bridge model and present several economic incentives that I believe are essential under this model.
什么是单向桥接迁移？
What's a one-way bridge migration?
单向桥接模式就是指当前的Eth1.0链上的ETH持有者可以选择将他们在Eth1.0链上的ETH(通过发送至一个部署在当前Eth1.0链上的抵押合约(DepositContract)中)进行销毁，并在Eth2.0信标链上获得同等数量的ETH(有些人将Eth2.0链上的ETH称为BeaconEther，即BETH)，这些新铸造的BETH将被锁定在信标链中。
One-way bridge mode means that the ETH holders on the current Eth 1.0 chain have the option of destroying them on the Eth 1.0 chain (by sending them to a collateral contract (DepositContract) deployed on the current Eth 1.0 chain) and obtaining the same quantity of ETH on the Eth 2.0 beacon chain (some refer to the ETH on the Eth 2.0 chain as BeaconEther, or BETH), and these newly forged BETHs will be locked in the beacon chain.
Kraken报告：比特币在未来几个月内将上涨50％至200％:美国加密货币交易所Kraken发布最新报告称，预测比特币在未来几个月内将上涨50％至200％。报告指出，比特币在7月24日创下21个月以来波动率新低，仅为23％。而比特币的12个历史波动率最低点(15%至30%)之后，通常会出现平均140%的反弹。由于8月通常是BTC价格波动的第三大波动月份，因此Kraken预测比特币在7月底产生的上升势头将持续几个月。（Cointelegraph）[2020/8/13]
Kraken reports that bitcoin will rise by 50 to 200 per cent in the next few months: the latest report issued by Kraken, the United States encrypted currency exchange, predicts that bitcoin will rise by 50 to 200 per cent in the next few months. The report states that Bitcoin has experienced a new low volatility of only 23 per cent in the 21 months since its inception on 24 July. The 12 lowest historical fluctuations in bitcoin (15 to 30 per cent) usually reflect an average rebound of 140 per cent. As August is usually the third month of price volatility in BTC, Kraken predicts that the rise in bitcoins at the end of July will continue for several months.
这种迁移计划将于今天10月份举办的DevconV期间开始，届时会在Eth1.0链上部署该抵押合约，之后用户就可以开始往该抵押合约中发送和质押ETH来成为Eth2.0系统的验证者。
The relocation plan will begin during the DevconV period today, October, when the collateral contract will be deployed on the Eth1.0 chain, after which users can begin sending and pledging Eth2.0 to the Eth2.
当该抵押合约中质押的ETH数量达到一定目标(约200万枚)时将正式启动信标链(预计2020年初启动，也有可能是2020年第一季度晚些时候)。
The beacon chain will be officially activated when the number of ETHs pledged in the mortgage contract reaches a certain target (approximately 2 million) (expected to be launched in early 2020 and possibly later in the first quarter of 2020).
为何采取单向桥接的方式？
Why a one-way bridge?
下面呈现了单向桥接方式和双向桥接方式各自存在的优缺点。需要注意的是，下方列出的有关单向桥接方式存在的有点主要是从技术角度来分析的，而列出的缺点则主要是从经济学角度来分析的。
The advantages and disadvantages of a one-way bridge approach and a two-way bridge approach are illustrated below. It is important to note that the underlying list of one-way bridges is mainly technical in nature, whereas the list of weaknesses is mainly economic in nature.
也就是说，单向桥接方式和双向桥接方式在技术和经济挑战之间存在一定的权衡和折衷。
In other words, there is a trade-off and trade-off between the one-way bridge approach and the two-way bridge approach on the one hand, and the technical and economic challenges on the other.
单向桥接方式
One-way bridge
优点：
Advantage:
稳定的安全性，用户抵押的存款只会上升；
(b) Stability of security, with user-guaranteed deposits only rising;
前期阶段的复杂性更低；
Prior period is less complex;
数据：过去1年比特币Omni层网络USDT交易量遭遇负增长:5月5日消息，根据Coin Metrics的数据，过去12个月里，比特币Omni层网络USDT交易量遭遇负增长，同一时期，USDT供应量也下降了110%以上。Tether于2014年10月在Omni层首次发布，且USDT供应量在2018年年中达到峰值，略高于30亿美元。虽然稳定币供应和交易数量经常波动，但几个月的供应收缩是不寻常的，特别是USDT。同时，Omni层是唯一一个支持Tether超过三年的，直到2017年11月Tether作为ERC-20代币在以太坊上发布。在不到两年的时间里，以太坊在Tether的总循环供应中所占的份额超过了Omni层。
Data: The volume of USDT transactions in the Omni layer of Bitcoin has experienced negative growth in the past year: on 5 May, according to Coin Metrics, the volume of USDT transactions in the Omni layer of Bitcoin has experienced negative growth over the past 12 months, and the supply of USDT has declined by more than 110% over the same period. Heather first released in the Omni layer in October 2014, and USDT supplies peaked in 2018, slightly above $3 billion. While stable currency supplies and transactions fluctuated, several months of supply contractions were unusual, especially USDT.
Omni层开发人员Sean Gilligan表示，不同协议之间的增长差异可能是由于每个链上的当前需求不同。Gilligan解释说，通过发布一个简单的“撤销”交易，Tether可以将Omni层上未使用的USDT转移到另一个需求更高的链条上。对于Tether在协议上转移原因，Tether的首席技术官Paolo Ardoino表示，交易费用和确认时间是Tether决定将USDT发展成由多个协议支持的跨链资产的主要原因。虽然Omni是使TETHER成为可能的第一个协议，但也必须满足交易员的要求。交易员们通常会担心比特币交易费用突然飙升会导致套利交易变得昂贵；确认时间问题上，一些交易所要等三个比特币区块才能确认交易，这可能意味着在市场上失去了时机。（CoinDesk）[2020/5/6]
In the case of the Omni floor developer Sean Gilligan, who said that the differences in growth between the different agreements might be due to different current demands on each chain. Gilligan explained that by issuing a simple “cancellation” transaction, Tether could transfer the unused USDT on the Omni layer to another more demanding chain. For Tether's reasons for moving on the agreement, Heather's chief technical officer, Paolo Ardoino, said that transaction costs and confirmation times were the main reason Tether decided to develop USDT into cross-chain assets supported by multiple agreements. Although Omni was the first agreement to make TETHHER possible, it was also necessary to meet the traders' requirements. Traders usually feared that a sudden surge in Bitco's transaction costs would make arbitrage more expensive; and, on the issue of time, some exchanges would have to wait for three bitcot blocks to confirm the transaction, which could mean a loss of opportunity in the market.
使Eth1.0链和Eth2.0链都无需进行分叉(就可以实现ETH迁移)。
The Eth 1.0 and Eth 2.0 chains need not be split (the ETH migration can be achieved).
动态 | 德国基金公司推出专注比特币开采的私募股权基金:据cointelegraph消息，德国投资基金管理公司Xolaris Service KVAG在11月29日的一份新闻稿中证实，该公司已推出一只专注于比特币开采的私募股权基金。该基金的最低投资额为25万欧元（28.5万美元），计划发行规模在3000万至5000万欧元（3400万美元至5700万美元）之间。该基金是与瑞典现存矿业所有者Marc Stehr的联合项目，资金将首先用于矿场扩建。[2018/11/30]
The German Foundation launched a private equity fund focused on Bitcoin mining: according to a press release on 29 November, Xolaris Service KVAG, a German investment fund management company, confirmed that it had launched a private equity fund focused on Bitcoin mining. The minimum investment in the fund was Euro250,000 ($285 million), with a planned distribution of between Euro30 million and Euro50 million ($34 million to $57 million). The fund is a joint project with the Swedish existing mining owner, Marc Stehr, which will be used first for the expansion of the mine. [2018/11/30]
缺点：
Shortcomings:
早期质押者存在较高的锁定风险(资产锁定至少1~1.5年)；
There is a higher risk of locking the early pledge (assets are locked for at least 1 to 1.5 years);
期货市场中可能出现两种ETH币(即ETH和BETH)；
Two types of ETH currency (i.e. ETH and BETH) may appear in the futures market;
可能导致社区的分裂和不同的经济激励措施。
This can lead to fragmentation of communities and different economic incentives.
双向桥接方式
Two-way bridge
优点：
Advantage:
资产锁定的风险更低，更多的资产将流入Eth2.0系统中；
The risk of asset locking is lower and more assets will flow into the Eth 2.0 system;
只有一种ETH加密币，不存在BeaconETH(BETH);
There is only one ETH encrypt currency and there is no BeaconETH (BETH);
如果Eth2.0出现问题，可以将ETH迁回至Eth1.0链上。
If there is a problem with Eth 2.0, ETH can be relocated back to the Eth 1.0 chain.
缺点:
Shortcomings:
质押的ETH总数量将存在高波动性；
The total quantity of ETH pledged will be highly volatile;
增加前期阶段代码的复杂性；
Increase the complexity of the pre-stage code;
存在质押量为零的风险，在早期阶段很可能会存在更多的问题。
There is a risk of zero pledges and more problems are likely to arise at an early stage.
Eth1.0和Eth2.0中的通胀情况
Inflation in Eth 1.0 and Eth 2.0
自君士坦丁堡升级以来，Eth1.0链上的区块奖励已经从3ETH降至2ETH，平均约15秒产生一个新的区块，这使得当前的ETH的年通胀率(增发率)大约是4.8%。
Since the upgrade in Constantinople, the block incentive on the Eth 1.0 chain has been reduced from 3ETH to 2ETH, generating a new block on average for about 15 seconds, bringing the current annual rate of inflation (growth rate) to approximately 4.8 per cent.
分析师：ETH超过400美元只是时间问题:加密货币分析师The Crypto Dog发推称。考虑到DeFi资产CREAM的潜力，其目前的市值被低估了。此外，该分析师看涨比特币，认为卖空者的破坏行为已经结束。他还表示，ETH超过400美元只是一个时间问题。（The Daily Hodl）[2020/9/15]
Analyst: ETH over $400 is only a matter of time: the cryptographic currency analyst The Crypto Dog exclaims that its current market value has been underestimated, given the potential of DeFi’s assets CREAM. Moreover, the analyst looks up Bitcoin and believes that the vandalism of the seller is over. He also states that ETH over $400 is only a matter of time. (The Daily Hodl) [20/20/9/15]
随着Eth1.0链上的活动逐渐完全转移至Eth2.0链中，在未来的某个时间，Eth1.0链上的通胀率将下降至0%。
As the Eth 1.0 chain moves gradually towards the Eth 2.0 chain, the inflation rate in the Eth 1.0 chain will fall to 0 per cent at some point in the future.
图1：ETH供应量和相应的发行率趋势图(蓝线表示供应量，橙线表示增发率)
Figure 1: Trends in ETH supply and corresponding distribution rates (Blue Line for supply and Orange Line for increase)
上图中不清楚的是Eth2.0的迁移和预计的通货膨胀是如何被考虑进去的。图中显示，在阶段0(信标链阶段，2020年初)似乎有一个增发率上升的信号，这意味着Eth1.0和Eth2.0的增发是捆绑在一起的。
It is not clear in the figure above how Eth2.0 migration and projected inflation were taken into account. The figure shows that there appears to be a sign of an increase in the incidence of phase 0 (beam chain phase, early 2020), which means that Eth 1.0 and Eth 2.0 increases are tied together.
也就是说，届时Eth1.0链会继续通过挖矿的方式增发ETH(作为对矿工的奖励)，同时Eth2.0链会通过staking的方式增发BETH(作为对验证者的奖励)。
This means that the Eth1.0 chain will continue to grow ETH (as an incentive for miners) through mining, while the Eth 2.0 chain will increase BITH (as an incentive for certifiers) through stking.
另外，下图是VitalikButerin提议的Eth2.0增发计划。需要注意的是，增发率是根据质押在Eth2.0系统中的BETH的数量的不同而相应地改变。在前期阶段，质押者获得的奖励(年收益率)将会更高，之后奖励会随着质押的BETH的数量上涨而下降。
In addition, the figure below is the Eth 2.0 surge plan proposed by Vitalik Buterin. It should be noted that the rate of increase varies according to the number of bets on the Eth 2.0 system.
图2：Vitalik提议的Eth2.0staking启动之后的BETH最大增发率和最大年收益率
Figure 2: Highest BETH increase and maximum annual rate of return after the launch of Eth2.staking proposed by Vitalik
行情 | ETH 1小时跌幅超过2.50%:据Bitfinex数据显示，ETH 现报价115.11美元，1小时内跌幅超过2.50%，波动较大，请做好风险控制[2019/1/21]
ETH 1-hour drop of more than 2.50%: According to Bitfinex data, ETH now offers $115.11, drops of more than 2.50% within an hour, fluctuations are greater, and risk controls are in place [2019/1/21]
让我们来分析一下上面介绍的三个加密经济设计决策：
Let's analyze the three economic design decisions described above:
1.“Eth1.0链上的ETH将被销毁”
“ETH on the Eth1.0 chain will be destroyed”
上图1中将Eth1.0和Eth2.0的通胀情况合了并起来，但我认为考虑到将采取单向桥接的方式，应该将新旧两条链的通胀情况分开来。
The inflation situation of Eth 1.0 and Eth 2.0 is combined in figure 1 above, but I believe that, given the one-way bridge approach to be followed, the inflation situation of the two chains should be separated.
这种“先销毁-后铸造”的模式意味着Eth1.0和Eth2.0之间的总供应量是反向关系，即“销毁”意味着Eth1.0链上的ETH供应量的减少，“铸造”意味着Eth2.0链上BETH供应量的增加。
This model of “destruction-constructed” means that the total supply between Eth 1.0 and Eth 2.0 is a reverse relationship, that is, “destruction” means a reduction in the supply of ETH in the Eth 1.0 chain, and “construction” means an increase in the supply of BITH in the Eth 2.0 chain.
当Eth1.0链上被销毁的ETH数量超过了4,890,000枚时，Eth1.0链上的ETH就会出现通货紧缩。
When the number of Eth 1.0 chains destroyed exceeds 4,890,000 Eth1.0 chains, there will be deflation of Eth 1.0 chains.
也就是说，Eth1.0链上ETH的通胀率会随着ETH被销毁和迁移至Eth2.0链的百分比的增加而降低。其结果是，如果其他条件相同，在Eth1.0链上剩余的ETH的价值将会随着这种迁移态势的推进而增加。
In other words, the rate of ETH inflation on the Eth1.0 chain will decrease as the percentage of ETH destroyed and moved to the Eth 2.0 chain increases. As a result, if other conditions are the same, the value of the remaining ETH on the Eth 1.0 chain will increase as this movement moves forward.
2.“BETH将被铸造和锁定”
“BETH will be cast and locked”
新铸造的BETH币将被锁定在信标链中(约1.5年左右)。因此，只有个体验证者之间协商的期货或场外交易才能给BETH带来有限的流动性。
The newly forged BETH currency will be locked in the beacon chain (about 1.5 years). Therefore, only futures or off-site transactions negotiated between individual certifying officers can bring limited liquidity to BETH.
鉴于BETH有限的流动性，我预计Eth1.0链上的ETH价格将在1.5年的锁定期内比Eth2.0链上的BETH价格更高。对于选择接受这种低流动性和执行风险的Eth2.0验证者来说，他们将获得一定数量的BETH作为奖励(见上图2)。
Given the limited mobility of the BETH, I expect that the ETH price on the Eth 1.0 chain will be higher than the BETH price on the Eth 2.0 chain over a 1.5-year lock-out period. For those Eth 2.0 certifying officers who choose to accept this low liquidity and implementation risk, they will receive a certain amount of BETH as an incentive (see figure 2 above).
但早期验证者销毁Eth1.0链上的ETH并质押BETH的决定是否值得，取决于ETH与BETH之间的兑换率(越接近1:1就越好)和成为验证者之后获得的奖励。
However, the early certificationer's decision to destroy ETH on the Eth1.0 chain and to pledge BETH was worthwhile, depending on the exchange rate between ETH and BETH (the closer the 1:1 is the better) and the incentives obtained after becoming a certification authority.
验证者有可能会在相当长一段时间内承担着BETH以低于ETH的价格进行交易的风险(比如，因为Eth2.0链开发进展延迟或者新旧两条链可能永远不会完全合并等)。
Certifying officers may be exposed for a considerable period of time to the risk of BETH trading at prices below ETH (e.g. because Eth2.0 chain development is delayed or the two old and new chains may never be fully merged, etc.).
鉴于BETH前期的低流动性，我好奇是否将有一部分的BETH将转换成Eth1.0链上的WBETH(即wrapped-BETH)，从而解锁更大的流动性和实用性。
Given the low mobility of the pre-BETH period, I wonder whether a portion of the BETH will be converted to WBETH (i.e. wrapped-BETH) on the Eth1.0 chain, thereby unblocking greater mobility and utility.
3.“锁定在信标链中的BETH将产生收益”
“BETH locked in the beacon chain will yield benefits”
值得注意的是，Eth2.0链中验证者奖励将会以BETH的方式发放给验证者。
It is worth noting that the Eth 2.0 chain certificationer incentive will be issued to the certificationer in the form of BETH.
当精明的加密货币持有者评估利用其资产进行配置和盈利的最佳方式时，并非所有方式产生的收益都是均等的。我们来比较一下持有者可能面临的几种选择：
When smart cryptographic currency holders assess the best way to use their assets for configuration and profitability, not all benefits are equal. Let's compare the options that holders may face:
选择一，在Compound平台上借出DAI并获取14.80%的年浮动利率(以DAI支付)；选择二，质押BETH成为验证者并获得18.10%-1.56%的年浮动利率(以BETH支付)。
Option one, lend DAI on Compound platform and obtain 14.80 per cent annual floating interest rate (paid by DAI); option two, pledge BETH to become a certifier and obtain 18.10 per cent - 1.56 per cent annual floating rate (paid by BETH).
由于DAO和BETH有着不同的价值，且这两种选择面临着不同的风险(比如DAI面临智能合约风险，而BETH面临低流动性和执行风险)，因此不能直接通过比较这两种选择的利率来判断哪种选择更好。
Given the different values of DAO and BETH and the different risks faced by both options (e.g. DAI faced smart contract risks and BETH faced low liquidity and implementation risks), it is not possible to judge which option is better directly by comparing the interest rates of the two options.
这里的重点是，对于精明的加密货币投资者来说，早期Eth2.0验证者能够获取的BETH收益，也许不足以为他们提供强大的经济动力来使他们接受Eth2.0staking所涉及的风险并放弃当前Eth1.0链的ETH所提供的很多其他获取收益的途径。
The focus here is that the BETH benefits available to early Eth 2.0 certifying officers may not be sufficient for sophisticated crypto-currency investors to provide them with a strong economic incentive to accept the risks involved in Eth2.staking and to abandon many of the other ways in which the current Eth1.0 chain provides revenue.
在我看来，通过单向桥接将Eth1.0链上的ETH迁移至Eth2.0链上的方式存在的主要问题是1ETH≠1BETH，这可能对Eth1.0和Eth2.0发展中的加密经济生态系统产生涟漪效应，对社区带来意外的后果。
In my view, the main problem in moving Eth 1.0 chains to Eth 2.0 via one-way bridges is 1ETH1BETH, which may have a knock-on effect on the encrypted economic ecosystems developing in Eth1.0 and Eth 2.0, with unintended consequences for communities.
但最终，我相信我们会为Eth1.0和Eth2.0创造一个健康的经济环境，使得新旧两条链有着正确的激励机制并共同发展，但两条链会有着经济上独立的生态系统，且Eth1.0链上的ETH持有者和Eth2.0链上的BETH持有者之间可能会出现意想不到的竞争。
In the end, however, I am confident that we will create a healthy economic environment for Eth 1.0 and Eth 2.0 that the new and old two chains will have the right incentives and develop together, but that the two chains will have an economically independent ecosystem and that there may be unexpected competition between the ETH holders in the Eth1.0 chain and the BETH holders in the Eth 2.0 chain.
理想情况是，将存在适当的经济激励机制来推动整个以太坊社区的发展。
Ideally, appropriate economic incentives will be in place to promote the development of the entire community.
单向桥接方式对价格的影响
Impact of one-way bridge on prices
最后，鉴于Eth1.0链可能最终将在未来某个不确定日期完全合并到Eth2.0链中，我想介绍一下博弈论将在这个过程中如何发挥作用。
Finally, given that the Eth1.0 chain may eventually be fully integrated into the Eth 2.0 chain on an uncertain date in the future, I would like to share how the game theory will play a role in this process.
我认为新旧两条链完全合并的可能性既不是100%，也不是0%，而是居于两者之间。但即便这种可能性只有10%，那也会在此期间对限制ETH和BETH之间的价格波动方面产生重大的影响，但我不确定这将如何在市场上发挥作用。或许我们通过以下两个例子来预想一下：
I think that the possibility of a complete merger of the old and new chains is neither 100% nor 0%, but rather lies between them. But even if it were only 10%, it would have had a significant impact on limiting price volatility between ETH and BETH during this period, but I am not sure how this will work in the market. Perhaps we can imagine two examples:
例子1：股票领域中的拟议合并是个很好的例子：如果A公司以每股1美元的价格收购B公司所有的流通股，且这两家公司合并的可能性存在99%，那市场将通过把B公司的股票定价为1美元左右来反映这种可能性。
Example 1: The proposed merger in the area of equities is a good example: if Company A buys all of Company B's shares at a price of $1 per share, with 99 per cent of the possibility of merger between the two companies, the market will reflect this possibility by pricing Company B's shares at around $1.
例子2：在去中心化金融(DeFi)领域，我认为MakerDAO针对DAI的稳定机制GlobalSettlement(全球结算)是一个很好的例子：对于持有DAI的用户来说，DAI价格维持在1美元左右的部分原则在于，在未来的任何时候，所有的DAI都可以通过全球资产结算以1美元的价格返还给用户。如果发生全球结算，你以低于1美元的价格买入(卖出)DAI就意味着你盈利(亏损)了。
Example 2: In the area of de-centralized finance, I think that MakerDAO’s GlobalSettlement (global settlement) of the DAI’s stability mechanism is a good example: for users who hold DAI, part of the principle that DAI prices remain around $1 is that at any time in the future all DAIs can be returned to users at $1 prices through global asset settlements. In the event of a global settlement, buying (sale) DAI at less than $1 would mean profit (loss).
类似地，如果Eth1.0链合并到Eth2.0链中的可能性很高，那BETH就能以一个类似于ETH的价格进行交换。
Similarly, if the Eth 1.0 chain is highly likely to be merged into the Eth 2.0 chain, then BETH could be traded at a price similar to ETH.
虽然将以太坊新旧两条链的合并与股票并购和MakerDAO进行类比并不十分贴切(Eth2.0并不是一个公司，也不是一个由抵押品支撑的稳定币系统)，但BETH和ETH之间也有可能形成类似的动态趋势。
While the analogy between the merger of the Taiwan and the old two chains and the stock mergers and acquisitions and the MakerDAO is not very relevant (Eth2.0 is not a company, nor is it a stable currency system supported by collateral), a similar dynamic trend is likely to emerge between BETH and ETH.
对以太坊社区的提问
Questions for the Etheraya community
基于单向桥接的迁移方式，我们可以增添哪些经济激励措施来更好地协调Eth1.0和Eth2.0的利益相关者呢？我希望本文将有助于以太坊社区围绕即将到来的迁移展开讨论，并期待听到社区其他人的观点。请随时通过推特@aaronahay来与我讨论，谢谢！
On the basis of a one-way approach to migration, what economic incentives can we add to better coordinate Eth1.0 and Eth 2.0 stakeholders? I hope this paper will contribute to discussions around the upcoming move in the community and look forward to hearing the views of the rest of the community. Please talk with me via Twitter @aaronahaay, thank you!
相关链接：
Link:
:https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-1.0-to-2.0-migration/
:https://docs.ethhub.io/ethereum-roadmap/ethereum-2.0/eth-1.0-to-2.0-migration/
:https://ethresear.ch/t/work-to-natively-integrate-eth1-into-eth2/5573/3
:https://twitter.com/dannyryan/status/1145554469884555264
:https://media.consensys.net/the-thirdening-what-you-need-to-know-df96599ad857
标签：ETHETH2ETH2.0BETeth大学商科VETH2ETH2.0币Hebeto
Label: ETHETH2.0> BET eth University Business Section
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