Loading...

Google Cloud is set to serve as a validator on the Polygon PoS Network

In this post:

  • Google Cloud joins the Polygon Proof of Stake (PoS) network as a validator.
  • Many in the blockchain world have pointed out that this move represents more than simply another collaboration: It represents the coming together of established tech titans and emerging blockchain platforms. 
  • Google Cloud describes its relationship with Polygon Labs as “an ongoing strategic collaboration.” 

Polygon Labs recently announced that Google Cloud has joined the Polygon Proof of Stake (PoS) network as a validator. This development not only signifies an important partnership but also the growing acceptance of the Polygon protocol as a secure and efficient blockchain protocol. 

According to Polygon, “the same infrastructure that powers YouTube and Gmail” will be used to secure the network.

Polygon lands Google Cloud as its latest validator

Google Cloud joins over 100 other validators in verifying Ethereum layer-2 transactions. Validators on the Polygon network contribute to network security by operating nodes, pledging MATIC, and taking part in proof-of-stake consensus mechanisms.

According to Polygon’s post, “this month, @GoogleCloud became part of the decentralized validator set for Polygon PoS.” As many in the blockchain world have pointed out, this news represents more than simply another collaboration.

It represents the coming together of established tech titans and emerging blockchain platforms. Google Cloud, best known for powering digital behemoths like as YouTube and Gmail, is now lending its enormous infrastructure to protect the quick, low-cost Polygon protocol.

The Google Cloud Singapore account confirmed on X that Google Cloud was “now serving as a validator on the Polygon PoS network,” adding that it would be “contributing to the network’s collective security, governance, and decentralization alongside 100+ other validators.”

While many of Polygon’s validators are anonymous, Google Cloud joins Germany’s Deutsche Telekom, one of Europe’s largest telecoms companies, on the network.

Google Cloud, for its part, describes its relationship with Polygon Labs as “an ongoing strategic collaboration.” Along with the announcement that it would be joining the network as a validator, Google Cloud Asia Pacific also posted a YouTube video titled “Polygon Labs is solving for a Web3 future for all.”

Polygon Labs has recently introduced the “Polygon 2.0” initiative to update the network’s architecture underpinnings. According to reports, the present phase, “Phase 0,” consists of three Polygon Improvement Proposals, PIPs 17-19.

PIP 17 entails the transition from MATIC to the new token POL, whereas PIPs 18 and 19 deal with supporting tasks such as the technical description of POL and the update of gas tokens. According to Polygon, these modifications will commence in the fourth quarter of 2023.

Polygon Validators

Google Cloud is in good company, with over 100 validators already working hard to safeguard the Polygon PoS network. These validators are critical to the network’s integrity, consensus, and security. 

What is a crypto validator? A validator is a participant in a Proof of Stake (PoS) blockchain network who is in charge of validating new transactions and ensuring the blockchain’s security. Validators accomplish this by staking their crypto to support the network.

Validators essentially validate new transactions and add them to the blockchain. This includes ensuring that blockchain transactions are valid according to network regulations and that the sender has sufficient funds to finish the transaction. Validators are compensated with transaction fees for their efforts.

Validators are important for preserving network security in addition to validating transactions. They accomplish this by continuously monitoring the blockchain for signals of criminal activity, such as double-spending. 

A network participant must lock up a certain quantity of the network’s native coin in order to become a validator. This is known as crypto staking. This sum is provided as collateral to assure their honesty. Validators are basically incentivized to follow the rules because their stake, i.e. their funds, can be sliced if they engage in any nefarious behavior.

Polygon makes major development strides

Polygon has made significant gains toward scalability and innovation in 2023. Polygon has solidified its place as a key participant in the blockchain industry through a series of strategic partnerships and advances.

Polygon reached a watershed moment in March when it released the public beta version of its zero-knowledge Ethereum Virtual Machine (zkEVM). This ground-breaking solution promises to improve the scalability and efficiency of the Polygon network, capturing the attention of the blockchain community.

The “Polygon 2.0” endeavor is another recent topic of attention in the Polygon community. Polygon’s continual dedication to innovation and development is exemplified by this effort. According to recent reports, “Phase 0” of the Polygon 2.0 program offered three critical Polygon Improvement Proposals (PIPs 17-19).

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

Coinbase Resumes XRP Trading for New York Customers
Cryptopolitan
Subscribe to CryptoPolitan