Cloudflare, an internet services and DDoS protection company, announced a new strategy for its Web3 experiences. The company has revealed that it will operate Ethereum validating nodes as part of its commitment to help evolve the internet using proof-of-stake (PoS) consensus technologies. This will ostensibly allow the company to access the energy efficiency and consistency of this technology.
Cloudflare will enter crypto via Ethereum
Cloudflare, a leading content delivery and DDoS attack mitigation company, has announced a new Web3 push that leverages Ethereum’s upcoming proof-of-stake network. The company informed that it will be running Ethereum validation nodes as part of its experiment to assess the viability of the scaling technology in the future.
Cloudflare said blockchain technologies could be part of long-term internet history, and these experiments could help decentralize these networks. Regarding this, the company said:
For the Ethereum ecosystem, running validator nodes on our network allows us to offer even more geographic decentralization in places like EMEA, LATAM, and APJC while adding infrastructure decentralization to the network.
Cloudflare clarified that these actions will be taken in the coming months ahead of The Merge, the consensus mechanism change that the Ethereum network aims to execute later this year.
Proof of Stake Preference
Cloudflare has made it clear that it supports proof-of-stake networks due to low power consumption compared to proof-of-work-based counterparts, stating that “the power required to run a validating node proof of stake is less than proof of minor work. About proof-of-work networks, like Bitcoin, Cloudflare said:
Proof-of-work networks are useless. This waste is because proof-of-work consensus mechanisms consume a lot of electricity.
The company also said that, as part of its commitment to sustainability, “Cloudflare does not and will not operate our own proof-of-work infrastructure on our network.” While Cloudflare will first start experimenting with Ethereum, it also mentioned another consensus mechanism, “space-time proof,” in its press release.
This consensus mechanism is the one used by Filecoin, a decentralized storage network that uses incentives to maintain participant files. This may hint at the possibility of including this network in all of the experiments that the Internet society will carry out in the future.
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