Internet Service Company Cloudflare Runs Verifying Ethereum Nodes as Part of Web3 Focus – Bitcoin News

Cloudflare, an Internet services and DDoS protection company, has announced a new strategy regarding its Web3 experiments. The company revealed that it will run validation nodes on Ethereum as part of its commitment to help scale the internet using Proof of Stake (PoS) consensus technologies. Ostensibly, this will allow the company to reach the energy efficiency and consistency of this technology.

Cloudflare for Crypto Access via Ethereum

Cloudflare, a leading content delivery and DDoS mitigation company, has announced a new Web3 push that leverages Ethereum’s upcoming Proof of Stake network. The company has informed that it will run a validation contract on Ethereum as part of its trial in order to assess the feasibility of its scaling technology in the future.

Cloudflare stated that blockchain technologies could be part of the Internet’s story in the long run and that these experiments could help decentralize such networks. About this, the company stated:

For the Ethereum ecosystem, running validation nodes on our network allows us to introduce more geo-decentralization in places like EMEA, LATAM, and APJC while also decentralizing the infrastructure to the network.

Cloudflare has specified that these actions will be implemented in the coming months prior to the merger, which is a change of consensus mechanism that the Ethereum network aims to implement later this year.

Proof of Stake Preference

Cloudflare explained that it supports Proof of Stake networks due to lower power usage compared to its Proof-of-Work-based counterparts, declaring that “the power required to run a Proof of Stake node is lower amounts than that of a Proof of Work miner.” About Proof-of-Work-based networks, such as Bitcoin, Cloudflare stated:

Proof of wasted working networks. This waste is due to the fact that proving working consensus mechanisms consumes large amounts of electricity.

The company also announced that, as part of its commitment to sustainability, “Cloudflare has not and will not run our own proof of work infrastructure on our network.” While Cloudflare will begin experimenting with Ethereum first, it also mentioned another consensus mechanism, “Proof of Spacetime,” in its press release.

This consensus mechanism is the one used by Filecoin, a decentralized storage network that uses incentives to preserve participants’ files. This may indicate that this network can be included in the set of experiments that the Internet company will conduct in the future.

What do you think about Cloudflare’s decision to run a validating Ethereum nodes? Tell us in the comments section below.

Sergio Goshchenko

Sergio is a cryptocurrency journalist based in Venezuela. Describing himself as a latecomer, he got into the crypto world when the price spike occurred during December 2017. Because he has a background in computer engineering, lives in Venezuela, and is influenced by the crypto-currency boom on a social level, he offers a different perspective on the success of crypto and how it helps people. Those who do not deal with banks are disadvantaged.

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