“Cloudflare will conduct basic infrastructure research and development to assist in keeping Ethereum secure, speedy, and energy-efficient for everyone,” the company adds.
Cloudflare, a cybersecurity company, plans to activate and fully stake Ethereum validator nodes in the coming months, ahead of the much-anticipated transition to proof-of-stake (PoS).
It intends to explore the PoS network’s energy efficiency, consistency management, and network speed as part of its commitment to environmental sustainability and “creating a better internet.”
Includes proof of stake
Cloudflare was founded in 2010 and provides web security services such as DDoS mitigation to clients to defend them from DDoS attacks.
Cloudflare stated that it was testing the “next generation of Web3 networks that include proof of stake,” with Ethereum leading the way.
At this point, Cloudflare claims that the Merge and transition to a PoS consensus approach will go live in Q3 or early Q4, barring any more delays. “Significant energy efficiency benefits” will be demonstrated through the network.
According to a blog post published on Monday, the business intends to activate and fully stake Ethereum validator nodes within the next few months, with each node requiring 32 Ether (ETH).
It did not specify how many nodes would be installed or when they would be operational.
Significantly reduce the energy consumption
According to the corporation, the trials are part of its environmental commitment and will aid in the establishment of a path “that balances the clear need to significantly reduce the energy consumption of Web3 technologies with the capability to grow Web3 networks by orders of magnitude.”
As it moves away from the environmentally “difficult” proof-of-work (PoW) methodology, Ethereum’s planned enhancements will dramatically cut its energy consumption, according to Cloudflare.
It was at the forefront of Web3 adoption but “doesn’t scale well with today’s usage rates:”
“In comparison to a Proof of Work miner, a Proof of Stake validator node consumes orders of magnitude less energy.”
The Ethereum network might use as little as 2.6 megawatts of energy, according to early estimates from the Ethereum Foundation.
To put it another way, Ethereum will use 99.5 percent less energy after the merger than it does now.”
While the business did not say which project it will concentrate on next, it did say it would continue to interact with partners in the “cryptography, Web3, and infrastructure communities.”
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Source: https://www.thecoinrepublic.com/2022/05/19/cloudflare-to-schedule-fully-stake-ethereum-validator-nodes-soon-for-better-internet/