In a landmark development, Google Cloud Next has stepped into the reality of blockchain by joining forces with the Polygon Network, marking a pivotal moment for both the cloud computing giant and the burgeoning crypto ecosystem. Google Cloud Next’s involvement as a validator for Polygon Network underscores the increasing convergence of traditional tech giants with blockchain technology.
Google Cloud Next’s foray into the Polygon Network involves holding a substantial stake in the form of over 10,000 Polygon tokens ($MATIC). As a proof-of-stake blockchain, Polygon depends on decentralised validators for transaction confirmations, and Google Cloud Next’s participation in this brings an unparalleled level of credibility and security to the network.
“What Google will be doing is, collectively along with hundreds of others, contributing to the network’s security, governance and decentralisation,” noted Austin Arnold from TheStreet Crypto. “So, for me, (this is) very bullish for space, very bullish for Polygon.”
For now Google Cloud’s stake in Polygon amounts to 10,201 MATIC tokens, valued at approximately $5,350. This announcement follows Google Cloud Next’s recent inclusion of data from more than 10 blockchains into its data warehouse, BigQuery, which has supported data from the Bitcoin blockchain since 2018.
Polygon Network, known for its fast and low-cost Ethereum Layer 2 protocol, has gained recognition through partnerships with major industry players, including eBay, Starbucks, Disney, Reddit and now Google Cloud Next. The partnership reflects Polygon’s rapid growth and positions it as a prominent contender in the blockchain sector.
The importance of Google Cloud Next’s involvement in Polygon Network extends beyond the immediate partnership. By supporting Polygon, Google Cloud Next indirectly acknowledges the value of Ethereum as Polygon operates as a Layer 2 solution for Ethereum. This alignment suggests that major players are recognising the durable potential of Ethereum and its various scaling solutions.
With a 9% share of the $83 billion cloud market, Google Cloud Next’s participation adds substantial weight to Polygon’s growing ecosystem. The partnership not only validates Polygon’s potential but also builds confidence in the future of the crypto network. Austin Arnold concluded, “This is a huge sign that Google Cloud sees value in Polygon. And, by the way, that’s also seeing value in the ETH network, as Polygon is an L2.”
The synergy between traditional tech giants and blockchain networks is an encouraging sign for the entire cryptocurrency industry. Google Cloud Next’s role as a validator on the Polygon Network marks a new chapter in the evolution of blockchain technology, highlighting its growing importance in the mainstream tech landscape.The integration of Google Cloud Next into the Polygon Network reinforces the idea that, in the reality of blockchain, the sky’s the limit.