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Google Cloud Joins Polygon as Validator, Stakes Over 10,000 MATIC

2 mins
Updated by Ryan James
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In Brief

  • Google Cloud has joined Polygon as a decentralized validator, reinforcing the security of the Heimdall, Bor, and Polygon PoS users.
  • This collaboration reflects Google Cloud's continued commitment to Web3 projects collective security and decentralization.
  • Polygon's MATIC price experienced a minor uptick, signaling a potential recovery from a recent downtrend.
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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.

Polygon staking
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 Matic price
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.

Top crypto platforms in the US | March 2024

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Oluwapelumi Adejumo
Oluwapelumi believes Bitcoin and blockchain technology have the potential to change the world for the better. He is an avid reader and began writing about crypto in 2020.
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