April 19, 2024
Google Cloud joins over 100 validators on Polygon's PoS network
Latest Cryptocurrency News

Google Cloud Joins Polygon PoS Network as Validator, Boosting Network Security

On September 29th, Polygon Labs made an announcement that Google Cloud has officially become a validator on the Polygon PoS network.

Google Cloud has joined a group of over 100 validators who are responsible for validating transactions on the Layer 2 (L2) Ethereum network of Polygon. In a statement shared on the X platform by Polygon Labs regarding this partnership, it was highlighted that the same infrastructure that powers YouTube and Gmail is now actively contributing to the security and efficiency of the Ethereum-compatible Polygon protocol, which offers fast and cost-effective transactions to a wide user base.

Validators within the Polygon network play a crucial role in ensuring the network’s security by operating nodes, staking MATIC tokens, and participating in the proof-of-stake consensus mechanisms. Google Cloud’s Singapore account officially confirmed that they are now serving as a validator on the Polygon PoS network, emphasizing their commitment to enhancing the network’s overall security, governance, and decentralization, alongside more than 100 other validators. Notably, among these validators, Google Cloud is now part of the same network as Deutsche Telekom, one of Europe’s leading telecommunications companies.

Google Cloud has described its collaboration with Polygon Labs as an ongoing strategic partnership. Alongside the announcement of their involvement as validators, Google Cloud APAC also released a YouTube video titled ‘Polygon Labs is shaping the future of Web3 for everyone.’ Polygon Labs recently initiated Polygon 2.0, a comprehensive update plan for the Polygon network. Phase 0, the current phase of this initiative, encompasses three Polygon Improvement Proposals (PIPs) numbered 17 to 19.

PIP 17 is focused on transitioning from the MATIC token to the new POL token, while PIPs 18 and 19 address various aspects related to supporting these changes, including providing a technical description of POL and updating gas tokens. Polygon has scheduled these changes to commence in the fourth quarter of 2023.

Image by freepik

Related posts

FCA Unveils Digital Sandbox to Foster Innovation in the Tech Sector

Henry Clarke

Divided Opinions Surround Newly Introduced ERC-404 Tokens

Robert Paul

Legal Turmoil Continues: CZ Zhao Leaves Binance.US Board Post-Settlement

Eva Moore

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More