Just In: Google Cloud Is Now a Polygon (MATIC) Network Validator

It looks like Google is making massive moves these days. Check out the latest reports about the tech giant below.

Polygon Labs has recently announced that Google Cloud has become an official validator for the Polygon (MATIC) proof-of-stake (POS) network.

By joining over 100 other validators, Google Cloud will help to secure the Ethereum (ETH) scaling solution’s network. Polygon Labs recognizes that having high-quality, trustworthy, and security-minded validators like Google Cloud provides an additional layer of security for Polygon users.

This isn’t the first time Google Cloud has served as a validator for a project. In October 2022, the cloud computing platform announced that it was running a validator node on the Solana (SOL) blockchain to support the network.

Additionally, Google Cloud launched its Blockchain Node Engine, which is a fully managed node-hosting service created specifically for web3 organizations.

The Blockchain Node Engine initially supported Ethereum as its first chain. In April, Google Cloud and Polygon Labs formed a strategic partnership to promote the adoption of Polygon protocols.

Recently, the founders and researchers of Polygon submitted a proposal for the transition to Polygon 2.0. The goal is to establish Polygon as the “value layer of the internet.” If approved, the project’s native token, MATIC, will be upgraded and renamed to POL.

As of writing, MATIC is trading at $0.527, and it is the 14th-ranked crypto asset by market cap. Over the past 24 hours, it has risen by 1.68%.

In a recent interview with CNBC, Brian Armstrong, the CEO of Coinbase, emphasized the importance of the US establishing a regulatory framework for cryptocurrency assets.

Armstrong believes that the US is lagging behind other major economies in terms of achieving regulatory clarity for crypto, which could have serious consequences for the country. Check out our previous article in order to learn more details about this.