Cloudflare wants to invest in Ethereum (ETH)
Cloud Flarethe American web giant has expressed interest in Proof of Stake (PoS) Compatibility Modelwhich is what Ethereum (ETH) will take after the famous merger:
Today, we are excited to announce the start of our trials for the next generation of Proof of Stake 3 web networks; Starting with Ethereum. https://t.co/vTWAkkm8Ds #PlatformWeek
—Cloudflare (Cloudflare) May 16 2022
Cloudflare sees a proof-of-stake model, and specifically Ethereum, As the future of web 3.0Which is why the company wants to publish a validation contract in order to secure the blockchain, once its consensus model has changed.
In addition, the company is confident in the added value it can bring to the network, in particular thanks to its protocol-based solutions interplanetary file system (IPFS). The latter allows Geodecentralization of data storageunlike Data Center Web classics, as they are mostly created today.
With the extension, Cloudflare also opens a file Gateway and storage services for Ethereum to the general public.
👉 Going Ahead – Find Our Guide to Buying Ethereum (ETH)
Critical opinion on proof of work
Cloudflare shows itself in its report Skeptical about the usefulness of the Proof of Work (PoW) form On which Bitcoin (BTC) is based, for example. For the company, the computational complexity needed to solve the mathematical puzzle inherent in this consensus is that it generates an enormous waste of energy.
Here we return to it Eternal Argument which divides the followers of the two models. If Bitcoin’s high power consumption is a reality, this is often factored in with the low scalability of the network. However, this is without relying on the Lightning Network, which offers a very large capacity. all without increasing its energy consumption.
There are of course advantages and disadvantages to every blockchain technology and it may not be possible to reconcile every philosophy. The most important in this and Keeping abreast of various developmentsin order to be able to keep on its own in the future, which is currently being built.
👉 On the same topic – Migration of Ethereum (ETH) to Proof-Of-Stake postponed to Q3 2022
Sources: Cloudflare, IPFS
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