Cloudflare, one of the biggest content delivery and DDoS mitigation companies, announced a new Web3 push that leverages Ethereum's upcoming proof-of-stake network.
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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