Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus – Bitcoin News

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The company informed it will be running Ethereum validator nodes as part of its experiment in order to assess the viability of this blockchain technology in the future.

Proof-of-Stake PreferenceCloudflare made clear that it supports proof-of-stake networks due to the low energy usage compared to proof-of-work-based counterparts, declaring that “the energy required to operate a proof of stake validator node is magnitudes less than a proof of work miner.” About proof-of-work-based networks, like Bitcoin, Cloudflare stated:Proof of work networks are wasteful. This waste is driven by the fact that proof of work consensus mechanisms are electricity-intensive.

The company also declared that, as part of its commitment to sustainability, “Cloudflare has not and will not run our own proof of work infrastructure on our network.” While Cloudflare will start experimenting with Ethereum first, it also mentioned another consensus mechanism, “proof of spacetime,” in its press release.This consensus mechanism is the one used by Filecoin, a decentralized storage network that uses incentives to maintain the files of the participants.

 

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