Googling Cloud, Google’s renowned cloud computing service, has taken a significant step by becoming a validator in the market Polygon (MATIC) network.
This collaboration aims to strengthen the security of the Polygon Proof-of-Stake (PoS) network, with Google Cloud leveraging its infrastructure that powers popular platforms such as YouTube and Gmail to contribute to the integrity of the network.
Google Cloud strengthens Polygon network security
Polygon Labs, the team behind the Polygon Protocol, recently announced that Google Cloud has joined their validator set. This move brings Google Cloud into the fold of more than 100 validators responsible for verifying transactions at Layer 2 Ethereum (ETH) network provided by Polygon.
In a statement shared on Protect Polygon protocol.
According to the announcement, by joining forces with more than 100 other validators, Google Cloud is contributing to the collective efforts to secure the Polygon PoS network.
Including reputable and security-focused validators like Google Cloud provides an additional layer of trust for users of Heimdall, Bor, and the Polygon PoS ecosystem.
The collaboration between Google Cloud and Polygon Labs goes beyond a validator partnership. It is described as an ongoing strategic partnership, indicating a long-term commitment to advancing the adoption and development of Web3 technologies.
As part of their joint efforts, Google Cloud APAC issued a YouTube video titled “Polygon Labs is a solution for a Web3 future for all,” further highlighting their shared vision of a decentralized web. The Google Cloud team further stated:
Is there an easier way to build and grow Web3 products? That’s Polygon Labs’ mission, and with the help of Google Cloud, it’s one step closer to realizing that vision. We now act as a validator on the Polygon PoS network and, together with more than 100 other validators, contribute to the collective security, governance and decentralization of the network.
Overall, the involvement of Google Cloud, a prominent player in the cloud computing industry, as a validator on the Polygon network brings greater credibility and expertise to the ecosystem.
This collaboration is expected to improve the overall security and reliability of Polygon’s network infrastructure, benefiting users who rely on the platform for seamless and efficient blockchain transactions.
MATIC breaks out of the three-month downtrend
Polygon’s own cryptocurrency, MATICsuccessfully broke a three-month downtrend that saw the token hit a yearly low of $0.5040 on Wednesday.
However, in the past 24 hours, MATIC’s stock has seen a notable rebound, rising 1.7% and currently trading at $0.5240.
This upward move is further supported by the Squeeze Momentum Indicator, which has broken the downward trend pattern, indicating that a recovery phase has begun for MATIC since Friday.
It is important to note that MATIC’s ADX indicator is showing a downward peak, indicating low volatility and a neutral battle between bullish and bearish forces in the cryptocurrency market.
Looking ahead, MATIC faces obstacles around the $0.5442 zone, which it failed to surpass on September 21. Conversely, if the uptrend continues, the next major hurdle is at $0.5951 before reaching the $0.6000 level, which has not been reached since late August.
The sustainability of MATIC’s uptrend and its ability to aim for the annual high of $1,569 reached in February remains uncertain and will require further observation.
Featured image from Shutterstock, chart from TradingView.com