Google Cloud Validates Polygon Network, Boosting Ethereum’s Layer 2 October 2, 2023 October 2, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Ethereum NewsOctober 2, 2023 by Kelly Cromley

Google Cloud Validates Polygon Network, Boosting Ethereum’s Layer 2

Google’s cloud computing division has taken on the role of a validator for the Polygon network, a Layer 2 blockchain that operates atop the Ethereum network. In this capacity, Google Cloud has acquired a direct stake exceeding 10,000 Polygon tokens ($MATIC) and actively participates in the verification of network transactions, emphasizing its commitment to blockchain technology.

As a proof-of-stake blockchain network, Polygon relies on a decentralized network of validators rather than a single centralized entity, such as a financial institution, to validate transactions. Google’s entry into the Polygon ecosystem signifies a substantial endorsement of the project, as it leverages its formidable reputation and resources to contribute to network security, governance, and decentralization.

Google Cloud’s Involvement Bolsters Confidence in Polygon’s Future

According to TheStreet Crypto’s Austin Arnold, Google’s involvement as a validator for Polygon is a highly positive development for both the blockchain space and Polygon itself. He notes that Google, in collaboration with numerous other validators, will play a critical role in enhancing the network’s overall security and decentralization.

Polygon Labs proudly announced, “This month, Google Cloud became part of the decentralized validator set for Polygon PoS. The same infrastructure used to power YouTube and Gmail is now helping to secure the fast, low-cost, Ethereum-for-all Polygon protocol.”

With approximately 9% of the $83 billion cloud computing market, Google Cloud’s addition to Polygon’s network significantly elevates the project’s profile. However, Polygon has a track record of forging partnerships with industry giants, including eBay, Starbucks, Disney, and Reddit. This trend highlights Polygon’s appeal and credibility within the blockchain and business communities.

The participation of Google Cloud as a validator holds substantial implications for Polygon’s future. Austin Arnold emphasizes that not all blockchain projects will succeed, and Google Cloud’s alignment with Polygon signals a strong vote of confidence not only in Polygon but also in the broader Ethereum network, as Polygon serves as an Ethereum Layer 2 solution.

This announcement coincides with Google Cloud’s recent move to incorporate data from over ten different blockchains into its data warehouse, BigQuery. Remarkably, Google Cloud has been integrating data from the Bitcoin blockchain since 2018, demonstrating its longstanding interest and investment in blockchain technology.

In conclusion, Google Cloud’s decision to become a validator for the Polygon network is a pivotal development that bolsters the credibility and potential of Polygon within the blockchain ecosystem. With Google’s substantial resources and reputation backing Polygon, the project is poised for further growth and recognition. This partnership not only benefits Polygon but also underscores the increasing convergence of traditional tech giants with the rapidly evolving blockchain space.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.