In a move that further highlights the intersection between traditional technology and the cryptocurrency ecosystem, Google Cloud announced its entry into Polygon’s proof-of-stake network, now functioning as one of its validators.
At the time of publication, the price of MATIC was quoted at US$0.52, up 1% in the last 24 hours.
In the context of an ever-evolving crypto industry, this news comes at a crucial time. With the adoption of cryptocurrencies growing on a global scale, major technology players, such as Google Cloud, have decided not to be left out of this narrative.
Google Cloud now joins the team of over 100 validators on Polygon’s Layer 2 Ethereum network. These validators play a key role, operating nodes, staking MATIC, and performing their roles in the proof-of-stake consensus. The security and decentralization of the network depend heavily on these participants, and the entry of Google Cloud only reinforces this structure.
This month, @GoogleCloud became part of the decentralized validator set for Polygon PoS.
With 100+ validators securing the Polygon PoS…
— Polygon (Labs) (@0xPolygonLabs) September 29, 2023
Through a post on Platform X, Polygon Labs illustrated the importance of this development saying: “The same infrastructure that powers popular services like @YouTube and @gmail now powers the robustness of Polygon’s low-cost Ethereum protocol.”
Not only that, the Google Cloud Singapore account also echoed this enthusiasm on the same platform, reiterating its role as a validator and emphasizing its contribution to the security, governance and decentralization of the network.
It is important to mention that the Polygon network already has other big names as validators, including Deutsche Telekom, one of Europe’s telecommunications giants. However, Google Cloud doesn’t see this as just a mere validator role. Instead, it describes its relationship with Polygon Labs as an “ongoing strategic collaboration.” The company even released a YouTube video titled “Polygon Labs is Solving a Web3 Future for Everyone,” emphasizing its commitment.
Polygon Labs, in turn, has ambitious plans in mind. They recently announced their “Polygon 2.0” initiative, aiming for significant improvements to the network. In this sense, PIP 17 plans to transition MATIC to the new POL token, while PIPs 18 and 19 discuss other technical aspects and improvements related to POL.
The entry of Google Cloud as a validator is undoubtedly a positive sign for the crypto industry, showing the marriage between cutting-edge technology and blockchain innovation.
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