Google Cloud Polygon (MATIC) will be the authenticator.
Polygon Labs announced on Friday that it has joined the ranks as a Google Cloud decentralized verifier.
In a September 29 announcement at X, Polygon highlighted that the infrastructure that powers Google's flagship products like YouTube is now helping to strengthen the protocol.
The role of Google Cloud as a polygon verifier
Polygon describes Google Cloud as a “high-quality, trusted, security-minded authenticator.” As a validator, Google Cloud verifies transactions and improves the security of Heimdall, Bor and Polygon PoS users. This will further strengthen the loyalty of the network and increase adoption.
On the other hand, Google Cloud has emphasized its commitment to the shared security, management and decentralized operation of the Layer2 network.
Crypto YouTuber Ajay Kashyap said the new development is evidence of Polygon Network's overall growth, despite market conditions.
Kashyap commented:
“MATIC is one crypto project that not only survived during the bear run, but also spread itself around the world, from building new products to collaboration and partnership.”
Google Cloud stakes 10 thousand MATIC
Interestingly, Google Cloud's stake in Polygon is relatively modest. According to the Polygon Staking Dashboard, the new validator lost 10,451 MATIC (equivalent to $5,491) and gained 30.01 MATIC, which is $15.77 as of press time.
Meanwhile, this collaboration is not the first time Google Cloud has ventured into the blockchain space, partnering with various platforms including Solana.
Recently, Polygon has been steadily attracting the interest of large tech companies in its ecosystem.
BeInCrypto Spain reports that Deutsche Telekom became a network validator earlier this year. Additionally, several Layer1 blockchain networks are working to transition to an Ethereum-based Layer2 network using the technology.
The price of MATIC will see a small increase
After the news, the price of Polygon MATIC experienced a slight increase of 1.36% to $0.5283, according to BeInCrypto data.
This price action represents a rebound from MATIC's annual low of $0.5040 recorded earlier in the week and marks a break from a three-month downtrend.
Against the backdrop of this downward trend, market indicators suggest that MATIC is poised for a recovery period.
Disclaimer
Adhering to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news report aims to provide accurate and up-to-date information. However, readers are advised to independently verify facts and consult with professionals before making any decisions based on this content.
