Google Cloud Strengthens Blockchain Security by Joining Polygon as a Validator

By  Noah Washington October 11, 2023

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Summary

  • Google Cloud becomes a validator on Polygon's proof-of-stake network, playing a key role in security, governance and decentralization
  • The partnership demonstrates the increasing convergence of cloud computing and blockchain, with validators like Deutsche Telekom and Google Cloud adding credibility
  • Polygon Labs' "Polygon 2.0" initiative implements major upgrades like transitioning to POL token and technical improvements in Q4 2023

In a groundbreaking move, Google Cloud has officially joined the ranks of validators on the Polygon network. This partnership was announced by Polygon Labs on September 29, signifying a remarkable collaboration between the tech giant and a prominent player in the blockchain space.

The Polygon network operates on a proof of stake consensus model, where validators stake or lock up their coins to help secure the network in return for rewards. Validators run nodes, which are computers that connect to the Polygon network to validate transactions and propose new blocks.

Block Creation and Transaction Validation

By becoming an official validator, Google Cloud is now running validator nodes that participate in the block creation and transaction validation processes on Polygon. This collaboration allows Google Cloud to help strengthen the Polygon network while earning rewards, and provides valuable infrastructure support from a major tech company.

Google Cloud becomes a validator on the Polygon network. Source:X/Twitter Google Cloud becomes a validator on the Polygon network. Source: X/Twitter

Polygon Labs, the driving force behind Polygon's growth and development, proudly revealed this partnership via its official channels. The move is expected to bring substantial benefits to both parties involved.

Google Cloud's entry as a validator on the Polygon network highlights its commitment to enhancing the security and stability of the blockchain ecosystem. This partnership is poised to contribute significantly to the advancement of blockchain technology.

Notable Validators on the Polygon Network

Among the validators on the Polygon network, one notable presence is Deutsche Telekom, one of Europe's largest telecommunications firms. Google Cloud's addition to this group underscores the network's appeal to influential players across various industries. Google Cloud's decision to join the ranks of validators on Polygon demonstrates the increasing recognition of blockchain technology's potential. With its vast resources and expertise, Google Cloud's participation adds a significant layer of credibility and expertise to the Polygon network.

This news comes as USDC, one of the most popular stablecoins, announced al native launch on the Polygon proof-of-stake blockchain October 10th. This marks a transition away from the current wrapped version of USDC that is bridged from Ethereum to Polygon. The native integration will bring faster and cheaper transactions for USDC on Polygon.

This native version will be fully backed 1:1 with US dollars, supported by Circle APIs, enable institutional access and in the future eliminate bridge withdrawal delays. To distinguish the new native coins from the bridged ones, the current USDC on Polygon will be renamed USDC.e across block explorers and app user interfaces. The transition will culminate on November 10th when Circle discontinues support for bridged USDC deposits and withdrawals.

Ongoing Strategic Collaboration

Beyond its role as a validator, Google Cloud describes its relationship with Polygon Labs as an "ongoing strategic collaboration." This suggests that the partnership is not merely transactional but aims to foster long-term development and innovation within the blockchain space.

Google Cloud Asia Pacific has also released a YouTube video titled "Polygon Labs is solving for a web3 future for all." This video provides insights into the collaborative efforts and goals of Google Cloud and Polygon Labs, shedding light on their vision for the future of blockchain technology.

Polygon's MATIC token price the past year. Source: CoinGecko

Polygon's ongoing "Polygon 2.0" initiative, including PIP proposals to transition from MATIC to POL tokens and leverage zero-knowledge cryptography across interconnected chains, demonstrates its commitment to continuous improvement as a pioneering blockchain scaling solution for Ethereum. This vision, beginning implementation in Q4 2023, will utilize proof-of-stake and POL tokens to enable Ethereum scaling via layer-2 chains interconnected through zero-knowledge technology.

Google Cloud's entry as a validator on the Polygon network marks a significant advancement in integrating cloud computing with blockchain. This will bolster Polygon's security, scalability and reputation, ultimately propelling broader blockchain adoption.