Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»ADOPTION NEWS»Consensys urged the SEC to recognize Ethereum’s advanced safeguards in its opinion piece on approving the ETH ETF.
ADOPTION NEWS

Consensys urged the SEC to recognize Ethereum’s advanced safeguards in its opinion piece on approving the ETH ETF.

By Crypto FlexsApril 1, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Consensys urged the SEC to recognize Ethereum’s advanced safeguards in its opinion piece on approving the ETH ETF.
Share
Facebook Twitter LinkedIn Pinterest Email

Consensys has submitted a memorandum to the U.S. Securities and Exchange Commission (SEC) advocating for approval of an Ethereum-based exchange-traded fund (ETF). me

In a recent request for public comment on Nasdaq’s application for a rule change to allow trading in the iShares Ethereum Trust, the SEC specifically inquired about Ether’s proof-of-stake consensus mechanism and unique concerns related to concentration of control or influence. Consensys responded to these concerns by explaining that Ethereum’s PoS model incorporates robust anti-fraud and anti-tampering mechanisms.

One of the key advantages that Consensys highlights is faster block finality. As Ethereum transitions to PoS, transaction finality can be achieved in a shorter time, making it more secure from potential attacks. The company also highlights the decentralized and random verification process used in Ethereum PoS, which prevents control by large stakeholders and serves as a check against manipulation.

Consensys further addresses the concept of Byzantine Fault Tolerance (BFT), which measures the minimum proportion of network validators required for system integrity. Researchers found that the cost of BFT to attack Ethereum’s network is much higher than that of other BFTs. Bitcoin, reduces the likelihood of network damage. Additionally, Ethereum’s PoS model acts as a deterrent and punitive measure by slashing penalties for validators who violate protocol rules.

The opinion letter highlights the environmental benefits of the Ethereum PoS model compared to Bitcoin PoW. With significantly lower energy consumption, Ethereum demonstrates its commitment to sustainability.

Consensys emphasizes Ethereum’s decentralized community and transparency as additional safeguards. An active and large developer community combined with open development work makes Ethereum more resistant to attacks and enables comprehensive monitoring of network activity.

In conclusion, Consensys urges the SEC to recognize the advanced safeguards inherent in Ethereum’s design. The company claims that Ethereum’s PoS implementation meets and exceeds the fundamental security and resilience safeguards of Bitcoin-based ETPs previously approved by the SEC. Consensys views comment letters as a step toward fostering progress and providing relevant and useful information to the public. The Company looks forward to an ongoing and constructive dialogue with the SEC and its employees.

Image source: Shutterstock

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025
Add A Comment

Comments are closed.

Recent Posts

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025

Ray for the square and scalable AI solutions and RAG pipelines on all scale

June 5, 2025

Economist Henrik Zeberg says that Altcoins is trying to start an explosive stage and updates Outlook and Under-The Radar Crypto for Dogwifhat.

June 5, 2025

How Algorand is quietly building the future of finance around the world

June 5, 2025

As the network activities are slow, Ether Room is unlikely to break $ 3,000 in the short term.

June 5, 2025

AI TOKEN LIVEPEER (LPT) cuts 150% and then falls 40% -What is the leading volatility?

June 5, 2025

NVIDIA DALI improves data processing function with new features.

June 5, 2025

Why is the ratio of cryptocurrency exchanges near Bitcoin’s lowest level of seven years?

June 5, 2025

The XRP face to unlock $ 2.2B. Are $ 2.14’s support under pressure?

June 5, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Bitcoin prices slide again, causing new fear of deeper modifications.

June 5, 2025

The Ether Leeum Foundation summarizes a comprehensive financial policy.

June 5, 2025

Using BCC mining increases daily passive income of $ 57,700

June 5, 2025
Most Popular

Worldcoin: Can WLD Recoup $4 Amid Smart DEX Whale Selloff?

December 19, 2024

NotWifGary Meme Coin Takes on Gary Gensler and the SEC

May 17, 2024

Pepe Price Prediction: PEPE Plunges 5% as This Chain-Hopping Dogecoin Derivative Surpasses $12 Million.

April 29, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.