Cloudflare, a cybersecurity company, plans to install and stake ETH validator nodes in the following months in preparation for Ethereum’s widely anticipated migration to proof-of-stake.
Cloudflare is committed to the long-term health of the environment and will work to “aid the development of a safer internet.” It plans to research the PoS network’s capacity for managing consistency, conserving energy, and increasing network speed.
Cloudflare is a web security company established in 2010 and offers services like distributed denial-of-service (DDoS) mitigation to customers to protect them against DDoS attacks.
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Cloudfare’s First Web3 Project Is Ethereum
Ethereum is the first digital asset that Cloudflare will test as it plans to transition to the PoS network.
It seems as though the Merge and transition to a PoS consensus mechanism are scheduled to go live by the end of the third quarter or the beginning of the fourth quarter, barring any further delays. Cloudflare has stated that this will result in “significant energy efficiency improvements” for the network.
In a post published on Monday, the company said that it would deploy and stake ETH validator nodes in the following months, which requires the investment of 32 ETH for each node. It did not indicate the number of nodes or provide a definite date that the operation would start.
“Cloudflare will be part of the team that will research and develop the basic infrastructure that helps maintain ETH, a quick, safe, and energy-efficient network for everyone,” says the company’s official announcement.
According to a statement made in the blog post, “these nodes will be used as a testing site for studies on consistency management, network speed, and energy conservation.”
The company has stated the tests are part of its move to safeguard the environment and are intended to pave the way for a solution “that will balance energy consumption of Web3 tech.”
Ethereum’s Transition To PoS To Reduce Power Consumption By 99.5%
As Ethereum moves away from the environmentally unfriendly proof-of-work model, Cloudflare noted that Ethereum’s energy consumption would be reduced. The company stated that;
“The amount of energy necessary to run a PoS validator node is lower than that needed to run a Proof of Work.”
According to preliminary calculations performed by the Ethereum Foundation, the total power consumption of the ETH network can be as low as 2.6 megawatts. After the PoS integration, ETH will use 99.5% less energy than it does now.
Although the company did not provide details on which project it would concentrate on. However, it stated that it would collaborate with partners in the Web3, cryptography, and infrastructure sectors.
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