Polygon Labs announced on Friday that Google Cloud has joined its ranks of decentralized validators.
In a September 29 statement about
Google Cloud’s role as a polygon checker
polygon explanation Google Cloud is a “quality, trusted, and security-conscious validator.” As a validator, Google Cloud verifies transactions and enhances security for Heimdall, Bor, and Polygon PoS users. These additions will further help strengthen the reliability of the network and drive adoption.
On the other hand, Google Cloud emphasized its commitment to contributing to the collective security, governance, and decentralization of layer 2 networks.
Invest smarter with us MATIC price predictor.
Cryptocurrency YouTuber Ajay Kashyap said The new development was evidence of the overall growth of the Polygon network despite prevailing market conditions.
Kashyap said:
“MATIC is one cryptocurrency project that not only survived the Bear run, but also spread globally, from building new products to collaborations and partnerships.”
Google Cloud invests in 10K MATIC
Interestingly, Google Cloud’s stake in Polygon is relatively small. According to Polygon’s staking dashboard, the new validator staked 10,451 MATIC (equivalent to $5,491) and earned 30.01 MATIC, worth $15.77, as of press time.
Meanwhile, this collaboration is not Google Cloud’s first foray into the blockchain space, as it has partnered with various platforms, including Solana.
Recently, Polygon has continued to attract interest from large technology companies for its ecosystem.
As BeInCrypto Spain reported, Deutsche Telekom became a network validator earlier this year. Additionally, several layer 1 blockchain networks are leveraging the technology to transform into Ethereum-based layer 2 networks.
The price of MATIC rises slightly
Following this news, the price of Polygon’s MATIC rose slightly by 1.36% to $0.5283, according to BeInCrypto data.
This price move marks a rebound from MATIC’s yearly low of $0.5040 hit earlier in the week and signals a break from a three-month decline.
With this decline behind us, MATIC appears poised for a period of recovery. Because market indicators suggest that an upturn is imminent.
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