Boost

Chainlink

ETF COIN

<ul><li>21Shares integrates Chainlink’s Proof of Reserve into Core Ethereum ETF to enhance transparency and investor confidence.</li><li>Chainlink’s Proof of Reserve provides real-time, independent verification of CETH’s collateralization, ensuring data security and reliability.</li><li>Chainlink Proof of Reserve eliminates central points of failure, with feeds monitored in near real-time, boosting investor trust.</li></ul>21Shares, a&nbsp; US LLC subsidiary of <a href="https://www.21shares.com/" rel="noopener noreferrer nofollow">21Shares</a> AG, has integrated Chainlink’s Proof of Reserve technology into Core Ethereum ETF (CETH). This strategic move aims to increase transparency of Ethereum reserves backing ETF and bolster investor confidence.<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper"><blockquote class="twitter-tweet"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING: 21Shares Has Integrated Chainlink’s Proof-of-Reserve System, To Create Enhanced Transparency For Its Core Ethereum ETF<a href="https://twitter.com/search?q=%24LINK&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$LINK</a>— Kyle Chassé (@kyle_chasse) <a href="https://twitter.com/kyle_chasse/status/1817927254779019392?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 29, 2024</a></blockquote></div></figure>Chainlink’s Proof of Reserve offers real-time and historical data on reserves. It allows anyone to independently verify collateralization of CETH. This integration ensures that the ETF is transparently backed by Ether (ETH) which is the second-largest cryptocurrency by market capitalization.Back in February 2024 21Shares had already integrated Chainlink Proof of Reserve for Bitcoin reserves <a href="https://cryptonewsland.com/21shares-integrates-chainlink-to-enhance-ethereum-etf-transparency/" rel="noopener noreferrer nofollow">backing ARK 21Shares</a> Bitcoin ETF. Launched in January 2024, this Bitcoin ETF currently holds $3.2 billion in assets under management. One standout feature of Chainlink Proof of Reserve is its automated on-chain verification.&nbsp;This feature keeps on-chain data constantly updated in reference contracts. Consequently investors and protocols can build automated logic based on updates to CETH’s collateralization. This helps maintain integrity of assets and builds trust among investors<a href="https://chain.link/" rel="noopener noreferrer nofollow">Chainlink</a> Proof of Reserve eliminates central points of failure in delivering external data to blockchains. It ensures reliable on-chain updates at all times regarding CETH’s collateralization. This decentralized approach enhances security and reliability of data.&nbsp;The <a href="https://cryptonewsland.com/binance-conducts-11th-proof-of-reserve-amid-regulatory-pressure/" rel="noopener noreferrer nofollow">Proof of Reserve</a> feeds can be monitored by anyone in near real-time. This allows investors to independently verify asset collateralizatio...The post <a href="https://cryptonewsland.com/21shares-partners-with-chainlink-link-to/" rel="noopener noreferrer nofollow">21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

21Shares Partners With Chainlink (LINK) to Boost Transparency in Ethereum ETF

Crypto News Land

Other articles published on Jul 30, 2024

If You Invested $1000 in Bitcoin When Trump Said Its Value Is 'Based On Thin Air,' Here's How Muc...

Kamala Harris Exposed, Considers Anti-Crypto Sen. Gary Peters

Grayscale Bitcoin Trust Shares Plunge as Outflows Continue

WEB3 GAMING UNLEASHED: MY LOVELY PLANET’S LAST SUMMER BEFORE TAKE-OFF

Toncoin: Is HODLing TON the way to go for buyers?

BlackRock: Solana ETF Unlikely Due to Technical Hurdles and Market Concerns

Join our free newsletter for daily crypto updates!