Polygon Labs announced on Friday that Google Cloud has joined its ranks as a decentralized validator.
In a September 29 statement on X, Polygon highlighted that the infrastructure powering Google’s flagship products like YouTube is now helping to fortify its protocol.
Google Cloud’s Role as Polygon Validator
Polygon described Google Cloud as a “high-quality, trusted, security-minded validator.” As a validator, Google Cloud will verify transactions and enhance the security of Heimdall, Bor, and Polygon PoS users. This addition will further help to bolster the network’s credibility and drive adoption.
On the other hand, Google Cloud emphasized its commitment to contributing to the collective security, governance, and decentralization of the layer2 network.
Crypto YouTuber Ajay Kashyap said the new development was evidence of Polygon network’s overall growth despite the prevailing market situation.
Kashyap opined that:
“MATIC is that one Crypto project that has not only survived during the Bear run but also managed to spread itself worldwide From building new products to collaboration and partnership.”
Google Cloud Stakes 10K MATIC
Interestingly, Google Cloud’s stake in Polygon is relatively modest. According to Polygon’s staking dashboard, the new validator staked 10,451 MATIC (equivalent to $5,491) and earned 30.01 MATIC, valued at $15.77 as of press time.
Google Cloud Staked Polygon’s MATIC. Source: Polygon Staking
Meanwhile, this collaboration isn’t Google Cloud’s first foray into the blockchain space, as it has partnered with various platforms, including Solana.
Recently, Polygon has consistently been attracting the interest of large technology firms to its ecosystem.
Deutsche Telekom became a network validator earlier in the year, as BeInCrypto Spain reported. Additionally, several layer1 blockchain networks are utilizing its technology to transition into an Ethereum-based layer2 network.
MATIC’s Price Sees Minor Increase
Following the news, Polygon’s MATIC price experienced a minor uptick of 1.36% to $0.5283, according to BeInCrypto data.
Polygon’s MATIC Price. Source: BeInCrypto
This price movement represents a rebound from MATIC’s yearly low of $0.5040 recorded earlier in the week and signals a break from the three-month downtrend.
With this downtrend behind it, MATIC appears poised for a recovery period, as market indicators suggest an upturn is on the horizon.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
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