- Cloudflare said that The Merge will bring “significant energy efficiency improvements” to the Ethereum blockchain.
- It also shared its commitment to the environment and reducing the energy consumption of Web 3.0 technologies.
Ethereum developers are gearing up for the much-awaited ‘The Merge’ upgrade, a move that will transform the Ethereum blockchain into a Proof-of-Stake Network. However, before the upgrade, cyber security firm Cloudflare will conduct some experiments with Ethereum nodes.
As per the latest development, Cloudfare will launch and fully stake Ethereum validator nodes over the next few months. The goal is to study energy efficiency, network speed, and consistent management of the Ethereum PoS network. Cloudflare said that these measures are part of its commitment to environmental sustainability.
The company specializes in offering Web security services to its clients and guarding them against DDoS attacks. Cloudflare said that it’s committed to playing a small role in the Ethereum 2.0 transition. Thus, it has chosen Ethereum as the first platform for its ongoing experiments with the “next generation of Web3 networks that are embracing proof of stake”.
Ethereum developers are gearing up for ‘The Merge’ upgrade ahead this year. As per tentative plans, it shall happen sometime around Q3 or Q4 2022. ‘The Merge’ basically represents an event wherein the Ethereum mainnet will merge with the Ethereum PoS Beacon chain. In its blog post on Monday, May 16, Cloudflare said that it will launch and fully stake Ethereum validator nodes. It added:
Over the next few months, Cloudflare will launch, and fully stake, Ethereum validator nodes on the Cloudflare global network as the community approaches its transition from Proof of Work to Proof of Stake with “The Merge.” These nodes will serve as a testing ground for research on energy efficiency, consistency management, and network speed.
Cloudflare’s commitment to the environment
Cloudflare said that ‘The Merge’ upgrade will lead to “significant energy efficiency improvements” for the Ethereum blockchain. It further extended its commitment to the environment and work on a path “that balances the clear need to drastically reduce the energy consumption of Web3 technologies and the capability to scale the Web3 networks by orders of magnitude”.
Also, the Ethereum 2.0 transition is more important than ever before! Ethereum is being home to a lot of DeFi applications, NFTs, DApps, and other Web 3.0 applications. Thus, moving to a more efficient and cost-effective Proof-of-Stake (PoS) blockchain becomes prudent. As Cloudflare explains:
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.
Cloudflare said that it’s also focusing on more projects across “cryptography, Web3, and infrastructure communities”.