ConsenSys 倡导以太坊现货 ETF，理由是权益证明增强了安全性

ConsenSys 主张获得 SEC 批准以太坊 ETF 现货，并强调与比特币的工作量证明 (PoW) 相比，以太坊的权益证明 (PoS) 系统提供了增强的安全性。 ConsenSys 认为，以太坊的 PoS 系统不易受到操纵和欺诈，因为成功攻击的成本和时间要求较高。

ConsenSys Calls for Approval of Ethereum Spot ETF, Citing Superior Security of Proof-of-Stake System

ConsenSys 呼吁批准以太坊现货 ETF，理由是权益证明系统具有卓越的安全性

In a groundbreaking development for the cryptocurrency industry, ConsenSys, the blockchain technology company behind the popular MetaMask crypto wallet, has submitted a formal request to the Securities and Exchange Commission (SEC) advocating for the approval of a spot Ethereum exchange-traded fund (ETF). This move marks a significant step in the ongoing saga of cryptocurrency ETFs in the United States, which has been dominated by Bitcoin-based products until now.

作为加密货币行业的一项突破性发展，流行的 MetaMask 加密钱包背后的区块链技术公司 ConsenSys 已向美国证券交易委员会 (SEC) 提交正式请求，主张批准以太坊现货交易所交易基金 (ETF) ）。此举标志着美国加密货币 ETF 的发展迈出了重要一步，迄今为止，美国加密货币 ETF 一直由基于比特币的产品主导。

Ethereum's Unique Security System at Center of Debate

以太坊独特的安全系统成为争论的焦点

The SEC's request for public comments on cryptocurrency ETFs has prompted ConsenSys to present its argument in favor of an Ethereum spot ETF. The central focus of the discussion revolves around Ethereum's unique security mechanism, Proof-of-Stake (PoS), and whether it poses any challenges that could affect the viability of an ETF.

美国证券交易委员会 (SEC) 就加密货币 ETF 征求公众意见，促使 ConsenSys 提出支持以太坊现货 ETF 的论点。讨论的焦点围绕以太坊独特的安全机制——权益证明（PoS），以及它是否会带来任何可能影响 ETF 生存能力的挑战。

ConsenSys contends that PoS, which has been implemented in Ethereum since 2022, offers superior security compared to Bitcoin's Proof-of-Work (PoW) system. In a detailed public comment letter, the company outlines the reasons why launching a successful attack on the Ethereum network is significantly more expensive and time-consuming than attacking the Bitcoin network.

ConsenSys 认为，与比特币的工作量证明 (PoW) 系统相比，自 2022 年以来在以太坊中实施的 PoS 提供了卓越的安全性。在一封详细的公开评论信中，该公司概述了为什么对以太坊网络发起成功的攻击比攻击比特币网络要昂贵且耗时得多。

According to ConsenSys, estimates indicate that an attack on Ethereum would require a staggering investment of approximately $34.39 billion (based on December 2023 Ether prices) and would take nearly six months to execute. In contrast, attacking the Bitcoin network, which heavily relies on computing power and electricity, could cost between $5 billion and $20 billion and potentially happen much more rapidly.

据 ConsenSys 称，估计表明对以太坊的攻击将需要约 343.9 亿美元的惊人投资（基于 2023 年 12 月的以太币价格），并且需要近六个月的时间才能执行。相比之下，攻击严重依赖计算能力和电力的比特币网络可能会花费 50 亿至 200 亿美元，而且发生的速度可能要快得多。

Advantages of Ethereum's PoS System Explored

以太坊 PoS 系统的优势探讨

Beyond cost, ConsenSys highlights several other advantages of Ethereum's PoS system that make it ideal for an ETF product. These include faster block finality (confirmation of transactions), a decentralized and randomized validation process, and a built-in penalty system for validators who engage in malicious behavior.

除了成本之外，ConsenSys 还强调了以太坊 PoS 系统的其他几个优势，使其成为 ETF 产品的理想选择。其中包括更快的区块最终确定性（交易确认）、去中心化和随机的验证过程，以及针对参与恶意行为的验证者的内置惩罚系统。

The company believes that these features, combined with Ethereum's energy efficiency and transparent community structure, create a robust network that is less susceptible to manipulation and fraud.

该公司认为，这些功能与以太坊的能源效率和透明的社区结构相结合，创建了一个不易受到操纵和欺诈的强大网络。

Strong Case for Security Superiority

安全优势的有力理由

ConsenSys concludes its public comment letter by strongly urging the SEC to acknowledge the advanced security measures inherent in Ethereum's design. The company argues that these safeguards not only meet but surpass those found in Bitcoin-based ETFs that have already been approved by the commission.

ConsenSys 在其公开评论信的结尾强烈敦促 SEC 承认以太坊设计中固有的先进安全措施。该公司辩称，这些保障措施不仅达到甚至超越了已经获得委员会批准的基于比特币的 ETF 的保障措施。

ConsenSys's persuasive arguments could potentially sway the SEC's decision-making process, although the regulatory landscape for cryptocurrency ETFs is still evolving.

尽管加密货币 ETF 的监管环境仍在不断发展，但 ConsenSys 的说服力论点可能会影响 SEC 的决策过程。

Potential Considerations for the Future

未来的潜在考虑因素

While ConsenSys presents a compelling case for the approval of an Ethereum spot ETF, it is important to note that PoS systems have the potential to become more centralized over time. This is because a limited number of validators with large stakes could potentially hold significant power.

虽然 ConsenSys 为以太坊现货 ETF 的批准提供了令人信服的案例，但值得注意的是，随着时间的推移，PoS 系统有可能变得更加中心化。这是因为有限数量的持有大量股份的验证者可能拥有重要的权力。

Moreover, the regulatory framework surrounding PoS and cryptocurrency in general is still in flux, and the SEC's view on the viability of PoS-based ETFs could change in the future. Additionally, there are currently no successful, long-term examples of established ETFs based on PoS cryptocurrencies.

此外，围绕 PoS 和加密货币的监管框架总体上仍在不断变化，SEC 对基于 PoS 的 ETF 可行性的看法未来可能会发生变化。此外，目前还没有基于 PoS 加密货币的成功、长期的 ETF 例子。

Significance of ConsenSys's Initiative

ConsenSys 倡议的意义

ConsenSys's push for an Ethereum spot ETF is the latest development in the ongoing debate about cryptocurrency ETFs in the US. With several Bitcoin ETFs already receiving regulatory approval, the focus has shifted to Ethereum, the second-largest cryptocurrency by market capitalization. The approval of an Ethereum spot ETF would provide investors with a new and potentially more secure way to gain exposure to the cryptocurrency market.

ConsenSys 推出以太坊现货 ETF 是美国关于加密货币 ETF 持续争论的最新进展。随着几只比特币 ETF 已经获得监管部门的批准，焦点已转移到市值第二大加密货币以太坊。以太坊现货 ETF 的批准将为投资者提供一种新的、可能更安全的方式来接触加密货币市场。