How the burn mechanism works
->Bagaimana mekanisme burn berfungsi
Paragraph:The proposal is relatively lightweight in code terms. It requires one new permanent constant and a consensus-layer adjustment. Prysm, a major Ethereum client, already has a draft implementation of around 300 lines. Under the plan, as more ETH gets staked, a portion of validator rewards is burned. At the 50% threshold, all issuance is burned — meaning stakers earn nothing from protocol rewards, only from transaction fees and MEV.
Translation:Cadangan ini agak ringan dari segi kod. Ia memerlukan satu pemalar kekal baharu dan pelarasan lapisan konsensus. Prysm, klien Ethereum utama, sudah mempunyai draf pelaksanaan sekitar 300 baris. Di bawah pelan ini, apabila lebih banyak ETH dipertaruhkan, sebahagian daripada ganjaran validator akan dibakar. Pada ambang 50%, semua terbitan dibakar — bermakna penaruh tidak memperoleh apa-apa daripada ganjaran protokol, hanya daripada yuran transaksi dan MEV.
Note: "stakers" -> "penaruh" (or "pemegang taruhan"? We'll use "penaruh" as a translation for stakers. Or "penyokong"? Actually "staker" is someone who stakes. In Malay, "penaruh" is not common. We can use "pihak yang bertaruh" or "penyokong"? Better to use "penaruh" as a direct translation? Or keep "staker" as is? Since we are translating, we can use "penaruh" but it might be awkward. Let's use "penaruh" for consistency. Alternatively, we can say "mereka yang bertaruh" but that's longer. We'll use "penaruh" as a noun. Also "MEV" is an acronym, keep as is. Next heading:Why cap staking at 50%
->Mengapa hadkan pertaruhan pada 50%
Paragraph:The stated goal is to prevent more than half of the ETH supply from being locked by validators. The authors argue that high staking levels create an 'artificial yield floor' that distorts the market. They also warn of security risks: smaller validators could be pushed out, concentrating ETH among large custodians and staking providers. A CryptoQuant report from July noted record staking levels with around 40 million ETH locked, and long-term holders continuing to stake despite weak market sentiment. Supporters say reducing issuance protects ETH holders from dilution and prevents liquid staking tokens from becoming the dominant form of ETH exposure.
Translation:Matlamat yang dinyatakan adalah untuk mengelakkan lebih daripada separuh bekalan ETH daripada dikunci oleh validator. Penulis berhujah bahawa tahap pertaruhan yang tinggi mewujudkan 'lantai hasil tiruan' yang memesongkan pasaran. Mereka juga memberi amaran tentang risiko keselamatan: validator yang lebih kecil mungkin tersingkir, menumpukan ETH di kalangan kustodian besar dan penyedia pertaruhan. Laporan CryptoQuant dari Julai mencatatkan tahap pertaruhan rekod dengan sekitar 40 juta ETH dikunci, dan pemegang jangka panjang terus bertaruh walaupun sentimen pasaran lemah. Penyokong mengatakan bahawa mengurangkan terbitan melindungi pemegang ETH daripada pencairan dan menghalang token pertaruhan cair daripada menjadi bentuk pendedahan ETH yang dominan.
Note: "liquid staking tokens" -> "token pertaruhan cair" (or "token staking cair"? We'll use "token pertaruhan cair"). Next heading:Divided reactions from builders
->Reaksi berbeza daripada pembangun
Paragraph:The proposal has drawn sharp criticism from several prominent figures. Lawyer Gabriel Shapiro called it a 'huge distraction.' Aave founder Stani Kulechov said Ethereum should focus on privacy, scaling, security, stablecoins, DeFi, and real-world assets instead. Ether.fi's Mike Silagadze opposed the plan, arguing it could hurt solo stakers and reduce DeFi activity. On the other side, supporters contend that the current trajectory leads to a system where most ETH is staked through liquid staking protocols, which they see as a centralization risk.
Translation:Cadangan ini telah menarik kritikan tajam daripada beberapa tokoh terkemuka. Peguam Gabriel Shapiro menyebutnya sebagai 'gangguan besar.' Pengasas Aave, Stani Kulechov, berkata Ethereum harus memberi tumpuan kepada privasi, penskalaan, keselamatan, stablecoin, DeFi, dan aset dunia sebenar. Mike Silagadze dari Ether.fi menentang pelan itu, dengan alasan ia boleh menjejaskan penaruh solo dan mengurangkan aktiviti DeFi. Di sisi lain, penyokong berpendapat bahawa trajektori semasa membawa kepada sistem di mana kebanyakan ETH dipertaruhkan melalui protokol pertaruhan cair, yang mereka anggap sebagai risiko pemusatan.
Note: "solo stakers" -> "penaruh solo" (or "staker solo"? We'll use "penaruh solo"). Next paragraph:The proposal is fresh — just a day old as of this writing. It will need to go through the Ethereum improvement process, including community discussion and potentially a core developers call. No timeline has been set. The key unresolved question is whether the Ethereum community sees staking concentration as a problem worth solving with a hard cap on issuance, or whether the market should be left to find its own equilibrium.
Translation:Cadangan ini masih baharu — hanya sehari setakat penulisan ini. Ia perlu melalui proses penambahbaikan Ethereum, termasuk perbincangan komuniti dan mungkin panggilan pembangun teras. Tiada garis masa ditetapkan. Persoalan utama yang belum diselesaikan ialah sama ada komuniti Ethereum melihat penumpuan pertaruhan sebagai masalah yang wajar diselesaikan dengan had keras pada terbitan, atau sama ada pasaran harus dibiarkan mencari keseimbangannya sendiri.
Now meta description: Original: "Ethereum developers propose EIP-8361 to burn validator rewards and cap staking at 50% of supply. The plan aims to prevent
