The internet security and DDoS, Cloudflare is penetrating into Web 3 and Ethereum staking with the recent introduction of validator nodes. In the latest announcement, the company revealed that it is exploring web 3 and proof-of-stake consensus with Ethereum.
However, the details of the ETH company acquired for staking or how many nodes it will run have not been disclosed in the announcement. Right now, every node present on the Beacon Chain needs a stake of 32 ETH, of which approx valuation as per the current market is around $66,500.
“Cloudflare is going to participate in the research and development of the core infrastructure that helps keep Ethereum secure, fast, as well as energy efficient for everyone.”
Cloudflare founded in 2009 delivers protection against distributed denial of service (DDoS) attacks and other web-based threats on high-traffic websites and internet portals.
Cloudflare is pursuing a proof-of-stake mechanism in response to concerns about energy consumption and severe environmental implications associated with proof-of-work consensus. The corporation indicated that the rationale for its preference for PoS is that Ethereum’s energy consumption will be reduced by 99 percent following the full merge by the end of the year.
Also Read: Ethereum Merge update Postponed for Months After June
The blog stated, “Part of this experimentation though is a commitment. As part of our experiments Cloudflare has not and will not run our own Proof of Work infrastructure on our network.”
Furthermore, existing validator nodes on Cloudflare Network enable decentralization over more geographic decentralization in places like EMEA (Europe, the Middle East, and Africa), LATAM (Latin America), and APJC (Asia Pacific, Japan, and China). The firm is still counting growing numbers of decentralization infrastructures on its platform.
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