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.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Internet Service Company Cloudflare to Run Ethereum Validator Nodes as Part of Its Web3 Focus – Bitcoin NewsCloudflare, one of the biggest content delivery and DDoS mitigation companies, announced a new Web3 push that leverages Ethereum's upcoming proof-of-stake network.
Les mer »
Cloudflare to run Ethereum node experiment to help 'build a better internet'Cloudflare stated it will support the “development and deployment of Ethereum by running proof of stake validator nodes” starting over the next few months.
Les mer »
Major validator calls for ‘completely new chain’ to replace TerraWhere does the $LUNA community go from here? As the dust settles from the Terra ecosystem crash and the community decides the next steps, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently.
Les mer »
Twitch co-founder raises $24M for Web3 gaming firm MetatheoryMetatheory, a Web3 and NFT gaming company started by Twitch co-founder Kevin Lin last year, raised $24 million from crypto and Metaverse focused venture capital firms.
Les mer »
Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 Again as Crypto Consolidation Extends – Market Updates Bitcoin NewsBitcoin and ETH prices dropped during the hump-day session, as bulls were unable to maintain Tuesday’s gains.
Les mer »
Bitcoin, Ethereum Technical Analysis: BTC Below $30,000 to Start the Week – Market Updates Bitcoin NewsFollowing a volatile weekend of trading, cryptocurrency prices consolidated to start the week, with BTC close to its long-term floor.
Les mer »