Digital asset-backed securities provider ETC Group will continue to rely on Ethereum’s original proof-of-work (PoW) consensus for its current Ethereum exchange-traded product (ETP).
ETC Group officially announced on Wednesday the launch of a new Ethereum ETP in response to the upcoming Ethereum Merge. Scheduled to occur in mid-September, the Ethereum Merge is a long-awaited consensus upgrade that is set to move the Ethereum blockchain from mining-based PoW to mining-free proof-of-stake (PoS).