After it was revealed that the SEC was conducting a marketing campaign to categorise Ethereum as a safety and an investigation was launched towards the Ethereum Basis, Cardano founder Charles Hoskinson, one of many founders of Ethereum, shared his views on the scenario.
Hoskinson made his statements following requests from the XRP and Bitcoin group, in keeping with his personal assertion.
As a substitute, on the middle of the investigation, in keeping with the Cardano founder, is the proposition that Ethereum’s transition from the Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) consensus mechanism in 2022 really creates a brand new cryptocurrency with a brand new set of information and circumstances.
In keeping with Hoskinson, this attitude appears per statements made throughout depositions and studies subpoenaed by entities related to the Ethereum Basis.
Hoskinson stated that the crux of the investigation into Ethereum and the SEC’s crackdown is whether or not ETH has turn into a safety with the launch of PoS, and if that’s the case, who is taken into account its issuer.
Hoskinson joined the Ethereum workforce in late 2013 as one of many 5 authentic founders, together with Vitalik Buterin, and held an government place. Buterin and the Ethereum workforce fired Hoskinson in 2014 following a disagreement over whether or not the mission ought to be industrial (Hoskinson’s view) or a non-profit (Buterin’s view).
*This isn’t funding recommendation.