Cloudflare to Support Ethereum and Proof of Stake Validators
2022.05.17 16:12
Cloudflare to Support Ethereum and Proof of Stake Validators
- Cloudflare (NYSE:NET) announced on May 16 that they are starting with experiments for the next generation of web3 networks embracing PoS.
- This will start with Ethereum, specifically “The Merge”.
- Ethereum will use 99.5% less energy after the merge has taken place in 2022.
Four years after the internet infrastructure giant Cloudflare’s initial experiments in web3, they announced their next series of tests to help advance the its state-of-the-art technology.
These experiments will be aimed at finding new ways to help solve the scale and environmental challenges that face blockchain technologies today. Cloudflare is also committed to balancing technology with impact, which is where the problem with the Proof of Work (PoW) consensus lies.
The main problem with PoW is the fact that it is extremely electricity-intensive. This is why Cloudflare believes the next generation of consensus protocols will most likely be based on Proof of Stake (PoS) consensus mechanisms.
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