Google Cloud is now a validator in the Polygon proof-of-stake network, as announced by Polygon Labs on September 29.
In order to validate transactions on its layer-2 Ethereum network, Google Cloud has joined the ranks of more than a hundred other validators.
Polygon Labs announced the agreement in a post on the X platform (formerly Twitter):
According to the Polygon whitepaper:
“The same infrastructure used to power @YouTube and @gmail is now helping to secure the fast, low-cost, Ethereum-for-all Polygon protocol.”
By running nodes, staking MATIC, and engaging in proof-of-stake consensus procedures, validators on the Polygon network contribute to the security of the network.
On X, the Google Cloud Singapore account announced that Google Cloud was “now serving as a validator on the Polygon PoS network,” and that it would be “contributing to the network’s collective security, governance, and decentralization alongside 100+ other validators.”
Google Cloud, together with one of Europe’s leading telecommunications companies, Deutsche Telekom, has joined Polygon’s network of anonymous validators.
When asked about their partnership, Google Cloud referred to Polygon Labs as “an ongoing strategic collaboration.” Google Cloud Asia Pacific announced its intention to become a validator on the network alongside the publication of a YouTube video titled “Polygon Labs is solving for a Web3 future for all.”
The “Polygon 2.0” project, which aims to modernize the Polygon network, was just released by Polygon Labs. Three Polygon Improvement Proposals (PIPs) 17-19 are included in the current phase, “Phase 0,” as published by Cointelegraph.
The new token, POL, is the subject of PIP 17, while related efforts, such as the technical description of POL and the update of gas tokens, are the subject of PIPs 18 and 19, respectively. Polygon reports that the implementation of these alterations would begin in the fourth quarter of 2023.