Google Cloud Joins Polygon PoS Network as Validator, Bolstering Network's Security and Governance
Summary:
Google Cloud has become a validator on the Polygon PoS network, joining over 100 existing validators. The announcement was made by Polygon Labs on the X platform. Now, Google Cloud is not only serving as a validator but is also contributing to enhance the network's collective security, decentralisation, and governance. Google Cloud and Deutsche Telekom are amongst the known validators on the network with many remaining anonymous. As part of its ongoing strategic collaboration with Polygon Labs, Google Cloud has also shared a YouTube video called "Polygon Labs is solving for a Web3 future for all." Additionally, Polygon Labs has launched its "Polygon 2.0" initiative to update the network, with changes expected to take place from Q4 2023.
As announced on September 29, Google Cloud has officially become a validator on the Polygon PoS network, adding to the roster of more than 100 validators already working on the L2 Ethereum network. Indeed, the very same infrastructure that supports Youtube and Gmail is currently facilitating a secure operation of the quick, cost-effective, and accessible Ethereum-based Polygon protocol.
Polygon Labs made this announcement on the X platform. Validators' responsibilities on the Polygon network include managing nodes, staking MATIC, and engaging in the proof-of-stake consensus process. In a further statement, Google Cloud Singapore acknowledged its recent role as a validator on the Polygon PoS network and stressed its commitment to enhance the network's overall security, governance, and decentralization along with the other validators already in place.
It's worth noting that among the numerous validators, many of them remain anonymous. As recent reports reveal, Google Cloud and Deutsche Telekom, one of Europe's largest telecommunications companies, are both validators on the Polygon network. Google Cloud labels its association with Polygon Labs as a continuous strategic collaboration. Syncing with this announcement, Google Cloud APAC also unveiled a YouTube video named "Polygon Labs is solving for a Web3 future for all."
Additionally, Polygon Labs has put forward its "Polygon 2.0" initiative, aimed at updating the Polygon network. As per reports, the present phase, known as "Phase 0," includes three Polygon Improvement Proposals (PIPs), namely PIPs 17-19. PIP 17 maps out the transition from MATIC to a new token POL, whereas PIPs 18 and 19 outline supplementary initiatives such as detailing the technical aspects of POL and new gas tokens update. Polygon has planned to start executing these changes from Q4 2023.
Published At
9/29/2023 5:27:47 PM
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