Cloudflare is expected to participate in the shift of the Ethereum 1.0 blockchain to Ethereum 2.0.
On May 16, the internet security company Cloudflare announced that in the next few months it will launch Ethereum validator nodes.
That is so because the crypto ecosystem is gradually shifting from Proof-of-Work (PoW) to Proof-of-Stake (PoS) by merging Ethereum Mainnet and Ethereum Beacon Chain. These ETH-based validator nodes will act as an experiment for further research on network speed, energy efficiency, and consistency management. Cloudflare expanded on such an idea and stated:
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“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.”
According to the company, the energy consumption of ETH will exponentially decrease after the pre-planed boost. The blog post added:
“The energy required to operate a Proof of Stake validator node is magnitudes less than a Proof of Work miner. Early estimates from the Ethereum Foundation estimate that the entire Ethereum network could use as little as 2.6 megawatts of power. Put another way, Ethereum will use 99.5% less energy post-merge than today.”
Moreover, there is no exact date when these staked ETH validator nodes would launch. However, according to the official statement, Cloudflare plans to run them in the upcoming months.
Cloudflare was founded in 2010 to help various businesses speed up, optimize, and protect their web pages from various DDoS attacks. The internet security company has grown revenue from $287M in 2019 to $656.4M in 2021.
