Cloudflare Could Run Ethereum Nodes As Merge Event Approaches

Time Stamp: May 18, 2022 8:43 AM
Source Node: 1314867

Cloudflare could run Ethereum nodes as the merge event approaches, and the announcement showed that it will run and stake several validator nodes in the upcoming months so let’s read more today in our latest Ethereum news.

The internet security company Cloudflare announced that it plans to run and fully stake Ethereum validator nodes over the past few months:

“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”.”

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Cloudflare could run Etheruem nodes as it is committed to playing a small role in the transition to Ethereum 2.0 which is an upgrade when ETH will transition from being a proof of work blockchain where transactions are validated by the miners to a proof of stake blockchain where the miners that put up most collateral validate the most transactions. The Merge refers to when the ETH mainnet will merge with the PoS-based Beacon Chain and after that, Ethereum 2.0 will be up and running. Cloudflare also said the ETH Validator nodes will serve as a testing ground for research on energy efficiency, network speed, and consistency management.

Anyone can become an Ethereum validator node and earn rewards to verify new blocks and be added to the blockchain. All you need is a computer that has 24/7 internet access and 32 ETH or $66,666 at today’s prices. Cloudflare was founded in 2010 with the goal to help businesses speed up their websites. The mission was to build a better internet which is an ideal shared by the developers of blockchain technology. Cloudflare also became a major player in the website security services and the company even posted revenue of $656.4 million.

Cloudflare started its blockchain pivot and started with the launch of the InterPlanetaryFile system gateway. The gateway provides an HTTP-accessible interface to the IPFS system and doesn’t require users to download any special software or give up some storage space. A year later after the launch of the Ethereum Gateway that allows users to interact with Ethereum and add interactive elements to other sites powered y the ETH smart contract without having to install additional software. Also, the company detected and stopped a huge DDOs attack on a crypto platform but didn’t reveal the platform’s identity.

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