Cloudflare will test an Ethereum node to help “create a better internet”
Ethereum’s “fundamental infrastructure helps make Ethereum safe, speedy, as well as energy-efficient for everyone,” Cloudflare noted in a statement.
Cloudflare, a cybersecurity company, plans to establish and fully stake Ethereum validator nodes in the coming months ahead of Ethereum’s widely anticipated migration to proof-of-stake (PoS).
As part of its commitment to environmental protection and to “create a better internet,” it plans to examine the PoS network’s energy efficiency, consistency management, and network speed.
Founded in 2010, Cloudflare offers online security services including DDoS mitigation to defend customers from DDoS assaults.
Web3 networks that use proof of stake, such as Ethereum, are being experimented with by Cloudflare, the firm stated in a statement.
According to Cloudflare’s current timeline, the Merge and transition to a PoS consensus process are expected to be live by the third quarter or the beginning of the fourth quarter, barring any more delays.
In a blog post published on Monday, the company said that it plans to establish and stake Ethereum validator nodes in the next months, with each node requiring 32 ETH. There was no mention of the number of nodes or the commencement date:
In order to make Ethereum fast, safe, and energy-efficient for everyone, Cloudflare will contribute to the development of Ethereum’s fundamental infrastructure.
These nodes will be used for study in energy efficiency, consistency management, and network speed,” the blog post said.
This is part of a larger effort by the company to demonstrate its environmental stewardship and pave the way for future Web3 network expansion while also reducing its overall energy usage.
While the proof-of-work (PoW) paradigm has been at the vanguard of Web3 adoption, it “does not scale well with the use rates we see today:” according to Cloudflare, Ethereum’s planned enhancements will dramatically cut its energy consumption.
A Proof of Stake validator node consumes a fraction of the energy of a Proof of Work miner. 2.6 megawatts of power is an early estimate from the Ethereum Foundation for the Ethereum network as a whole. Merging with Bitcoin would reduce Ethereum’s energy consumption by a factor of 99.5 percent.”
Even while the company did not specify which project it would work on next, it suggested that it will continue to collaborate with partners from the “cryptography, Web3, and infrastructure sectors.”