#以太坊金融基础设施 Recently, while studying Ethereum, I suddenly discovered a phenomenon that left me a bit confused—it seems like everyone is discussing "decentralization," but the actual happenings don't quite match up? 🤔

At first, I thought decentralization meant complete freedom and lack of control, but after deeper analysis, I realized that it's about balancing "de-intermediation" and "trust minimization." De-intermediation refers to transactions not relying on middlemen, and trust minimization means operating with the least amount of trust possible. These two concepts are a bit hard for me to grasp, but they seem especially important 😅

What’s even more upsetting is that after Ethereum shifted from PoW to PoS, it seems like individual nodes are being gradually "extracted" from the production system, which makes me anxious—Is this still the decentralization I understand? It feels like the current situation is that the wealth effect and the true ideals of decentralization are going in opposite directions. As institutions flood in and retail investors bear pressure, Ethereum’s ecosystem is becoming increasingly "bureaucratic."

Especially with stablecoins (USDT/USDC) starting to replace ETH as the benchmark assets, I am even more confused. Has the chain become prosperous in the end, but the original intention of decentralization was lost? 🤷‍♀️

Is there anyone who can help a newcomer clarify their thinking? What is the future direction of Ethereum as a financial infrastructure? I feel understanding this could help me better grasp the overall development logic of the crypto world.