Makorokoto, iwe unowana 0.05% goho rakawanda uye kurima mamwe mapoinzi! Inonzwika zvakanaka? Chokwadi - kudzamara waona kuti wangoisa njodzi mumatanho akawanda usingatombozviziva. Asi iwe unogona kufuratira izvo - kungofanana nevamwe vese - kusvika iwe usingakwanise. Tafura yezviri mukati Nguva Yekusvetuka Izvo zvakakosha: Staking, Liquid Staking, Restaking - Chii Icho ...? Njodzi - Kuvaka Imba Yemakadhi paEthereum The Renzo ezETH Crash: Yambiro Iyo APY yekuwedzera inogona kubhadhara zvechokwadi njodzi? Kwete saizvozvo. Kunyangwe Vitalik Anongwarira Nezve Kudzoreredza Iyo DAO Hack: Chidzidzo kubva kuEthereum's Darkest Hour Mhedziso: Innovation Inoda Kujeka Nguva Yekusvetuka Chirimo cha2024, uye isu tese tinofunga kuti tinofanirwa kushandisa ETH yedu kurima EigenLayer Points - manzwiro eFOMO anongo kurira. Aya mapoinzi eEigenLayer ndiwo meta yekupedzisira yekukodzera EigenLayer airdrop, saka mamwe maprotocol anosvetukirawo pane iyi bandwagon uye anovimbisa madonhwe emhepo . Kurima aya mapoinzi, munhu wese anotanga kunyungudutsa-stake ETH yavo, obva aidzoreredza, obva aidzoreredza zvakare pane imwe chikuva. Zviri nani unoita izvi kakawanda kuti ukwanise kuwana mamwe angangoita madonhwe emhepo seEtherfi, KelpDao, kana Renzo. Panguva ino, vanhu vashoma vakazvibvunza kuti chii chaizvo chavaive vachiita uye njodzi dzipi idzi shanduko yekuchinja mutambo inogona kuunza kwavari kana DeFi kana Ethereum. Asi ngatitangei pakutanga netsananguro pfupi yezvandiri kutaura nezvazvo. [1] [2] Iwo Basics: Staking, Liquid Staking, Restaking Chii...? Usati waedza kutsanangura njodzi, zvakakosha kuti unzwisise kuti aya mazwi akakosha anorevei. inosanganisira kuvhara ETH paProof-of-Stake blockchain seEthereum kuchengetedza network uye kuwana APY yegore negore ye 3-4%, yakafanana neshoko rekuisa kubhangi . Staking [3] Staking ine mukana pamusoro peChiratidzo-che-Basa blockchains mukuti inonyanya kushanda nesimba uye zvakare inosanganisirwa, sezvo iwe uchigona kukurumidza kutora chikamu mu staking pasina chaiyo hardware. Nekudaro, chakashata ndechekuti iwe haugone kuwana midziyo paunenge uchikanda uye pane dzimwe nguva nguva dzekuvhara. inopa mushonga. Inobvumira vashandisi kuisa ETH kuburikidza neprotocols seLido uye kugamuchira chiratidzo chinomiririra (semu, stETH), zvichiita kuti vawane mibairo yakakura apo vachichengetedza mari yekudyidzana neDeFi . Ivo vanogona ikozvino kushandisa izvi sechibatiso kana kungochichinjisa kune mamwe ma tokens. Iyo mukana ndeyekuwandisa kwemidziyo yavo kunyangwe yakabatikana uye nekudaro mupiro kune kuchengetedzeka kwe blockchain. Liquid Staking [4] Iyo yekupedzisira innovation iyo yave kukonzera kunyanya kurwadza kwemusoro iri kudzoreredza. Pfungwa iyi inyowani uye ndinofunga kuti ndiyo yakanyanya kujeka musoro wenyaya: inobvumira vashandisi kukwidziridza ETH yavo yatove yakabatiswa pasina kuibvisa. Ichiri kuenderera mberi nekuchengetedza Ethereum network, yakadzokororwa ETH inotsigirawo kuchengetedzwa kwemamwe maprotocol (Actively Validated Services, kana AVS) semabhiriji, oracles, kana mamwe ma dApps, achiwana imwe APY yeinenge kutenderera 3% kumusoro . Restaking [5] Zvino izvo zvekutanga zvave zvichitsanangurwa, inotevera 'inonzwisisika' nhanho yataigona kuona muDeFi, yaive yekuti ETH yakadzokororwa inofanirawo kunge iri mvura zvakare, zviri pachena ... Uye saka, chokwadi, maprotocol akawanda akabva abuda akaita iyi basa ravo. Uye saka munhu wese akatanga kupeta nekurongedza ETH muzvikamu zvakawanda, sezvo goho richiramba richiwedzera nechero imwe neimwe. Kazhinji, tekinoroji yekuseri kwekudzoreredza ine hunyanzvi uye inopa mikana mitsva. Kune vakawanda vashandisi, inoramba isina-brainer: yakawanda goho kune imwecheteyo ETH. Nekudaro, izvi hazvifungi kuti nechero imwe neimwe yekuwedzera, njodzi nyowani inotutira, izvo zvinoita kuti goho rekuwedzera rigoneke pakutanga. Asi ngozi iyi yakakura sei? Inogona kunge iri bhomba renguva, iyo chaiyo systemic njodzi yeEthereum uye yese yeDeFi? Njodzi - Kuvaka Imba Yemakadhi paEthereum Slashing - iyo OG staking njodzi Ngatitangei neyokutanga 'layer' yenjodzi, kwaunoisa yako ETH nzira yechinyakare kuchengetedza network uye kuwana goho re3-4% (kubva muna Kukadzi 2025) . Ngozi chete pano injodzi yeSlashing. Iyi ndiyo nzira yeEthereum yekuchengetedza vagadziri vakatendeseka; kutyora mitemo (semuenzaniso, kupa mazano anopokana, yakawandisa validator downtime, nezvimwewo), uye unorasikirwa nechikamu cheETH yako yakatemerwa uye inokandwa kunze kwetiweki . Kurovera hakuwanzo, sezvo kuchingori kushoma kune pasina kurudziro zvichienzaniswa nechirango chakaomarara chevanoita basa, uye kubva muna Kukadzi 2024, isingasviki 0.04% yevose vanosimbisa vakaderedzwa. Kuti ive yakananga, chete 414 vagadzirisi kubva kune vangangoita 1,174,000 vanoshanda vanosimbisa . Kuti uve mugadziri uye utore nhanho yekukiya ETH yako, unoda inokwana makumi matatu nembiri ETH, iri panguva imwechete iyo yekumusoro muganho pamugadzirisi. [3] [6] [7] Zvakanyanya Kukurirwa? - Iyo Centralization Dilemma muDeFi Iyo 32 ETH inodhura zvakanyanya kune vakawanda vashandisi, saka vanotendeukira kune mvura staking, kwaunoshandisa chikuva kurovera, seLido . Lido inokutendera kuti ubate ETH yako kuburikidza nevamiriri vavo uye wobva wagashira yakaenzana inomiririra yayo, iyo stETH. Izvi hazvina dambudziko, sezvo mushandisi anogona kugara achitsinhanisa stETH yavo yeETH yavo. Zvisinei, mamiriro ezvinhu aripo muDeFi ane zvimwe zvinonetsa, sezvo Lido iri kutonga chikamu chemusika uye ine huwandu hwe27.58% (12. February 2025, chati iri pasi) yeETH yose yakabatwa pasi pekutonga kwevagadziri vayo . [4] [8] Izvi pari zvino zvakaenzana neanenge mamiriyoni 9.35 ETH . Sezvandambotaura, chete 32 ETH inogona kuverengerwa pamugadzirisiti, izvo zvinoreva kuti Lido haigone kurovera ETH yese mune imwe validator. Nekudaro, ini handidi kutsanangura pano kuti Lido, sechikamu chepakati, achine gehena resimba rakawanda, uye hautomboda kufungidzira zvingaitika kana Lido akakanganisa rimwe zuva. Ngozi yekuisa pfungwa yakakura. Izvi zvinonyanya kuoneka munyaya yezvisizvo, zvakadai sechiitiko munaOctober 2023 umo kumativi e20 nodes anoshandiswa naLido akaderedzwa . Ndizvo chaizvo nyaya iyi yepakati inogona kudzokororwa mukudzoreredza maprotocol. Ngatitorei yakakura restaking protocol Eigenlayer semuenzaniso. Eigenlayer parizvino ine TVL ye12.3 bhiriyoni, pakukwirira kwayo muna Chikumi 2024 yaive madhora zviuru makumi maviri zvemadhora . Panguva yekunyora, inenge 10% yeETH yose yakabatwa yakadzorerwa paEigenLayer . MuLido neEigenLayer, tinoona kuwanda kwepamusoro uye nengozi yekuisa pakati pechokwadi, kuti isu tiri kutevera mission ye decentralization muDeFi uye crypto. Izvi zvinosanganisira njodzi yakakwira ine mapoinzi ekutadza akaunganidzwa muLido uye EigenLayer. Saka chikanganiso chimwe chete chinogona kutungamira mukutema kana kuvharwa kwemvura. [9] [10] [11] [12] Kudzoreredza Kunowedzera Mamwe Matanho ekuomarara - Uye Aore Matanho eNjodzi Kudzoreredza, senge chero nyowani nyowani nyowani, tekinoroji nyowani inoshandisa isina kuratidzwa uye nyowani zvivakwa, tekinoroji, uye kodhi ichiri kuda kuyedzwa. Kukanganisa kumwe kwehunyanzvi kunogona kuguma nenjodzi yepamusoro apo iyo yese restaking protocol inodzika. Iyo smart contract njodzi mune innovation zvinosiririsa yakakwira. Iyi njodzi inozosanganiswa nenyaya yekuti mukudzoreredza kucheka kunogona kuitika kwete mune imwe chete inosimbisa asiwo mukati meiyo restaking protocol senge Eigenlayer. Iyo validator inofanira ikozvino kutevedzera mitemo yeEthereum blockchain kuti igare paIndaneti uye itevedzere mitemo yeEigenLayer . Kana ikaita chikanganiso paEthereum, iyo validator inoenda kunze kwenyika, inotemwa uye, zvine musoro, zvakare inoenda kunze kwenyika paEigenLayer. Kana ikakanganisa paEigenLayer Protocol, mibairo yayo yeAVS inodzimwa, asi zvishoma iyo validator inoramba iri paIndaneti paEthereum kana isinawo kuputsa mitemo yeEthereum. [13] Pasina kupokana, kugadzirisa zvakare kune hutsva uye kunovhura mikana yakawanda, asi zvakadaro, isu tinofanirwa kufunga kuti nemukana wekudzoreredza ETH zvakare uye zvakare isu tinowedzera njodzi zvakare uye zvakare. Saka njodzi dzandichangobva kutsanangura dzinogona kudzokororwa kazhinji senge ETH inodzokororwa. Saka kutema imwe Ethereum validator kunogona kukonzeresa kukorokoza kwezviitiko parestaking protocol uye kuenda kunze kwenyika kwevazhinji vevagadziri, zvichienderana nekuti iyo ETH yakadzoserwa kakawanda sei. Uye zvakare, iyo mvura yakadzoreredzwa ETH inoshandiswa zvakare muDeFi dApps yekukweretesa uye kukwereta, semuenzaniso, uye inoshandiswa sechibatiso. Imwe neimwe nyowani nyowani inotutira panjodzi dzakadai sekucheka uye kudonha kwemvura, kumisikidza ketani vashandisi vazhinji havatombo cherechedza-kusvikira imba yese yemakadhi yadonha, izvo zvakaitika semuenzaniso mutsaona yeRenzo ezETH. The Renzo ezETH Crash: Yambiro Musi wa24 Kubvumbi 2024, depeg (kurasikirwa kwemutengo unoenderana nemutengo weiyo asset inofanirwa kumiririra iyo yemvura vhezheni ye; panguva iyi, mutengo weEZETH kusvika kuETH) weEZETH weRenzo protocol wakaitika. Mutengo weiyi shanduro yemvura yakadzoserwa ETH kwenguva pfupi yakawira ku $688 chete . Panguva iyoyo, Renzo yakanga iri hombe mvura restaking protocol shure Etherfi, sezvo vachangozivisa airdrop yavo uye saka TVL yavo yakasimuka 126% kusvika $3.3 bhiriyoni mukati memwedzi . Chikonzero cheiyi depeg chaive nekuda kwekuguma kwechikamu che airdrop chakakonzera kutengesa kukuru . (Airdrop metas inyaya yandichataura mune chimwe chinyorwa) Izvi zvakatungamira kune zvinoshamisa kuvharirwa macascades, semuenzaniso paMorpho kana Gearbox nemazana evashandisi vakabviswa. Inofungidzirwa kuti huwandu hunokosha huri pakati pe $ 56 mamiriyoni ne $ 340 mamiriyoni hwakarasika kuburikidza nekuvhara zuva iroro . Izvi zvinosimbisa njodzi dzakanyorwa pamusoro, izvo zvinogamuchirwa kunyangwe zvisingatengi zvakanaka muma APY mune dzimwe nguva. [14] [14] [15] [14] [16] Iyo APY yekuwedzera inogona kubhadhara zvechokwadi njodzi? Kwete saizvozvo. Vazhinji vashandisi vanorerutsa njodzi iyi zvachose kana kuti havaizive. Handisi kuti vashandisi havana ruzivo rwakakwana uye havasi kuita tsvakiridzo yavo. Nekudaro, zvipingamupinyi pakunzwisisa uye tsananguro dzimwe nguva hazvinzwisisike zvekuti mushandisi asingaite nazvo zvine hunyanzvi haana ruzivo rwakakwana mumaonero angu. Ndichatora chirevo kubva pane yangu yekupedzisira yandakataura kuti zvimwe zvigadzirwa zviri kungove zvakanyanya kuomarara uye zvinoita kuti kukwira kuome kupfuura zvazvinofanira kuva . Nekudonhedza kwemvura, mushandisi anogona kuenderera mberi nekutengesa neETH yavo uye kuwana imwe APY inosvika 2% kuburikidza nekukwereta uye kukweretesa maprotocol (aine imwe asset kuratidzwa kune stETH, semuenzaniso) . Njodzi pano iri pakati nepakati chero bedzi mushandisi asingakwereti achipokana nechibatiso chake uye njodzi yekuvharirwa (izvo zviri kwaari zvachose). Nekudaro, kana tikadzokera kune dzakadzika zvidimbu, senge mukudzoreredza, ipapo mushandisi anoshandisa danda rimwechete reETH kakawanda kuti awedzere kuratidzwa kwake. Izvi zvinowedzera njodzi zvakanyanya nekuda kwekuenderera mberi kwekugara kweETH yakagadzirwa uye inotorwa kuti irambe iri mvura, nepo APY inongowedzera zvishoma uye haisisiri maererano nenjodzi iyi inotorwa. Mushandisi anenge asiya zvachose kutonga padanho iri renjodzi uye haana mubairo wakakwana panjodzi idzi. Kusimbisa pfungwa yangu, heino quote kubva kuna Marcin Kazmierczak, Co-muvambi & COO weRedstone: [17] [18] "Nemamwe maprotocol ekudzoreredza anopa maAPYs e15-20% pazvinhu zvakaita seETH, pane njodzi huru yevanoisa mari vachidzingirira goho vasinganzwisise zvizere njodzi dzakabatana." [19] Kunyangwe Vitalik Anongwarira Nezve Kudzoreredza Vitalik Buterin, baba vaEthereum, vane maonero akakomba pakuzvidzora uye anoratidza kunetseka. Anowanzosimudzira hunyanzvi hwakapoteredza Ethereum ecosystem, inonzwisisika uye yakanaka, asi anoti iye pachake: "Tinofanira kungwarira mapurojekiti ekushandisa-anotora matanho ane njodzi kuwedzera 'chiyero' chekubvumirana kwe blockchain kune chero chinhu kunze kwekusimbisa iyo yakakosha Ethereum protocol mitemo." [20] Ini ndinotenda hunhu hwakawanda mukati me crypto uye Web3 inobvumirana neizvi uye kugovera iyi pfungwa, sezvaunogona kuverenga mune zvakawanda zvinyorwa. Ethereum inopenya nekuti yakavimbika blockchain uye kuedza kuri kuitwa kuti zvirambe zvakadaro. Mushure mezvose, kwakatove kwakatove neDAO debacle mu2016, kudzokorora kunofanira kudziviswa pamutengo wose umo Ethereum yaifanira kuvharwa. Vitalik Buterin anoti mune yake blog post: "Kana, kune rumwe rutivi, iwe une chinangwa chekubatanidza muEthereum yakafara yemagariro ecosystem kubvumirana kweforogo kana reorg kugadzirisa matambudziko ako, iyi ine ngozi huru, uye ini ndinopikisa kuti tinofanira kuramba zvakasimba kuedza kwese kusika tarisiro dzakadaro." [20] Iyo DAO Hack: Chidzidzo kubva kuEthereum's Darkest Hour Maoko kumusoro chero munhu anogona kurangarira iyo DAO hack kana achiri kuziva kuti chii. Inoramba iine nharo yekuratidzira yeEthereum, kuti pasinei nekukwidziridzwa uye makore akawanda ekugadzirisa nguva, blockchain inofamba zvakanaka! (Ndinokutarira iwe Solana; iyo blockchain yakapemberera pakutanga kwaFebruary kuti blockchain yave ichimhanya kwegore pasina nguva ... .) Zvisinei, munhu haafaniri kukanganwa kuti pakanga pane hack paEthereum muna 2016 paThe Dao, umo 14% yeETH tokens dzose dziri kutenderera dzakabiwa . Chisarudzo chakaitwa kuti forogo Ethereum kuEthereum blockchain yatinoziva nhasi uye Ethereum Classic, pamusoro apo chokwadi pashure Hack ichiripo uye 14% ETH yakarasika (ini ndichajekesawo nyaya iyi mune imwe nyaya, DeFi History saka kutaura). Izvi zvinosimbisa chokwadi chokuti kune zviitiko zvinogona kutyisidzira Ethereum uye izvi hazvifaniri kurerutswa. Zvinofanira kudziviswa kuti nokutambanudza kubvumirana pamusoro Ethereum kana centralization ngozi tinoda imwe forogo mune ramangwana kuti bail us kunze. [21] [22] Mhedziso: Innovation Inoda Kujeka Saka ndeipi mhedziso kubva kune zvese izvi? Zvakanaka, pakupedzisira zvinogoneka nehunyanzvi kugadzirisa goho raungawana kubva kuEthereum nekutora njodzi yakawanda, asi APY hainyatso kuratidza njodzi iyi zvachose mumaonero angu. Vashandisi havatomboziva kana kusatomboziva nezvenjodzi dzingangoitika nekuti kudzoreredza goho hakunzwika seyakawanda kuDeFi, saka njodzi dzinogona kushomeka. Kwandiri, kudzoreredza kunetsa kudzamara tave neanonzwisisika uye akajeka metrics enjodzi muDeFi anogona kubatsira vashandisi kuzvinzwisisa. Sezviri munyaya yangu yekutanga, ndine hanya nekukura uku uye ndinokahadzika kuti zvinonzwisisika kutora njodzi iyi pasina kutora DeFi neWeb3 "kusvika kune imwe nhanho" kubva kune vashandisi maonero . Pamwe ndine rusaruro nekuti semudzidzi wezvemari, mabhero angu ari kurira pandinoona pfungwa dzakada kufanana nerehypothecation; kana nemamwe mazwi zvakakonzera kuparara kwehurongwa hwemari muna 2008. Mhedzisiro yematambudziko emari yaiva kuberekwa kwekristpto, DeFi, uye Web3 kuburikidza neshanduko yakatangwa naSatoshi Nakamoto neBitcoin uye kunyorwa kwakakurumbira munyika yose muGenesis block "The Times 03 / Jan / 2009 Chancellor pamucheto webhangi rechipiri chebhangi" . Tiri kuenda kuhurongwa hwakafanana nehwataida kutsiva nehurongwa huri nani? Tichitarisa nemamiriro azvino eiyi inogona kuita bhomba renguva muDeFi, ndingati zvinosuruvarisa hongu. Tinoda decentralized and transparent risk metrics - zvikasadaro, DeFi ichaparara sezvakaita hurongwa hwemari muna 2008. Saka pano ndinogovera maonero aVitalik Buterin nekuti panguva yekutsvagisa kwangu chete ndakasangana neakatorwa aya kubva kwaari: [17] [23] "Mhinduro dzisina kururama dzinogona kutungamira Ethereum munzira yekuisa pakati uye 'kugadzirazve hurongwa hwemari hwechinyakare nekuwedzera matanho'[...]." [24] Restaking innovation uye tinoda izvo semutyairi weDeFi uye kutorwa kwayo, asi ini ndinoramba ndakangwarira kudzamara pfungwa yazviratidza pachayo. Kunyanya, ini ndine hanya nekuchengetedzwa kwe investor nekuti ndinotenda vashandisi vazhinji havazive njodzi dzavanosangana nadzo. Ndosaka ndichibvumirana naMarcin Kazmierczak, Co-muvambi & COO weRedstone kuti vashandisi vatsva uye vanofarira vanoda kuunzwa kuchinyorwa ichi zvishoma nezvishoma: “[...]Kugadzirisa izvi, mapuroteni anogona kutora masisitimu ekupinda apedza kudzidza-semuenzaniso, kutanga vashandisi nesarudzo dzakareruka dzekupa 5-7% APY vasati vapa mukana kune zvigadzirwa zvakaoma uye zvine njodzi." [19] Kwandiri, iyi inoita senge nzira ine musoro inofanirwa kushandiswa kakawanda muDeFi kuita kuti vatengesi vazive nezve njodzi. Maprotocol anofanirwa kuunza mametric enjodzi akajeka uye kudzidzisa vashandisi zvakanyanya nezve njodzi dzinogona kuitika. Kana tichida kuvaka imwe itsva uye inosanganisirwa imwe hurongwa hwemari nenzira yakaganhurirwa, saka hazvina kufanira chete kuve nehunyanzvi, asiwo kubatanidza uye chikamu chedzidzo. Wese munhu anofanira kukwanisa kubatsirwa nazvo pasina vashandisi vanowira munzira nekuda kwekushaikwa kweruzivo rwemari. DeFi ndeyemunhu wese uye saka zvakare ibasa redu tese kupa dziviriro inodiwa uye dzidzo kumunhu wese. Unobvumirana here nekunetseka kwaVitalik nezvekudzoreredza? Iwe unofunga kuti zvakakosha here kuti kutorwa kweDeFi kupe njodzi metrics? Iwe unofungei nezvekudzoreredza uye wanga uchiziva nezve njodzi dzinogona kuitika? Govera maonero ako mumhinduro! Kana waifarira chinyorwa usazeza kunditevera pano paHackernoon uye uverengewo dzimwe nyaya dzangu! Kana iwe uchida kutaura neni kana kushandira pamwe pane chinyorwa iwe unogonawo kundinyorera pane yangu kana , zita rangu rekushandisa riripo @Maxo1st futi. X/Twitter Bluesky Hongu, xx References: [1] https://thedefiant.io/news/research-and-opinion/eigenlayer-airdrop-outcry-shows-how-points-are-raising-trader-expectations [2] https://www.eigenlayer.xyz/ [3] https://www.stakingrewards.com/asset/ethereum-2-0 [4] https://lido.fi/ [5] https://www.coindesk.com/learn/restaking-101-what-are-restaking-and-liquid-restaking [6] https://academy.binance.com/en/glossary/slashing [7] https://consensys.io/blog/understanding-slashing-in-ethereum-staking-its-importance-and-consequences [8] https://dune.com/queries/1933075/3188537 [9] https://dune.com/queries/1933076/3188545 [10] https://blog.lido.fi/post-mortem-launchnodes-slashing-incident/ [11] https://defillama.com/protocol/eigenlayer [12] https://dune.com/queries/3592784/6052673 [13] https://blockworks.co/news/restaking-ticking-time-bomb-eth [14] https://www.cryptonite.ae/global/renzo-protocol-ez-eth-depeg-market-turbulence [15] https://cointelegraph.com/news/renzo-ezeth-depegs-688-airdrop [16] https://www.cryptonews.net/news/altcoins/28913944/ [17] https://medium.com/coinmonks/defi-fatigue-are-we-stuck-in-a-loop-the-current-and-devastating-state-of-defi-2025-7cb5ce478205 [18] https://defillama.com/yields?token=STETH&category=Lending&attribute=single_exposure [19] https://beincrypto.com/experts-warn-of-restaking-vulnerabilities/ [20] https://vitalik.eth.limo/general/2023/05/21/dont_overload.html [21] https://www.ccn.com/news/crypto/solana-no-downtime-defi/ [22] https://www.gemini.com/cryptopedia/the-dao-hack-makerdao#section-the-response-to-the-dao-hack [23] https://en.bitcoin.it/wiki/Genesis_block [24] https://vitalik.eth.limo/general/2024/05/17/decentralization.html
