On September 29th, Polygon Labs made a significant announcement, revealing that Google Cloud had joined the Polygon proof-of-stake network as a validator.
This development marked a significant milestone for Polygon, as Google Cloud brought its extensive expertise and resources to the table.
As part of this collaboration, Google Cloud joined a diverse group of over 100 validators responsible for verifying transactions on Polygon’s layer-2 Ethereum network.
This move showcased Google Cloud’s commitment to supporting the growth and security of blockchain technology.
In a statement shared on the X platform (formerly known as Twitter), Polygon Labs expressed their enthusiasm for this partnership, highlighting that the same infrastructure powering platforms like YouTube and Gmail would now contribute to the security and efficiency of the Ethereum-based Polygon protocol.
Validators play a crucial role in maintaining the integrity of the Polygon network by operating nodes, staking MATIC tokens, and participating in the proof-of-stake consensus mechanism.
READ MORE: Marathon Digital Mines Invalid Bitcoin Block in Experiment, Network Resilience Proves Robust
The Google Cloud Singapore account officially confirmed its role as a validator on the Polygon proof-of-stake network, emphasizing its dedication to enhancing the network’s security, governance, and decentralization.
Notably, Google Cloud joined the ranks of other prominent validators, including Deutsche Telekom, one of Europe’s largest telecommunications firms.
Google Cloud described its collaboration with Polygon Labs as an ongoing strategic partnership, indicating a long-term commitment to blockchain technology. In tandem with this announcement, Google Cloud Asia Pacific released a YouTube video titled “Polygon Labs is solving for a Web3 future for all,” further underscoring their dedication to the Web3 ecosystem.
Polygon Labs had recently initiated “Polygon 2.0,” aimed at updating and enhancing the Polygon network.
This multi-phase project, with “Phase 0” being the current focus, involves several Polygon Improvement Proposals (PIPs). PIP 17 stands out as it involves transitioning from the MATIC token to the new POL token.
PIPs 18 and 19 address essential aspects like the technical description of POL and the update of gas tokens.
These changes are scheduled to be implemented in the fourth quarter of 2023, reflecting Polygon’s commitment to continuous improvement and innovation within the blockchain space.
Other Stories:
Fornite Developer Cuts 16% of Workforce Amid Metaverse Revenue Shortfall
Chinese Consultant Fined $144,907 for Unauthorized VPN Use
Do Kwon Requests Extradition Denial Amidst SEC Investigation
