The recent announcement confirming Google Cloud’s collaboration with Polygon as one of its decentralized validators is a momentous occasion for blockchain technology. Google is set to become one of the over 100 validators tasked with securing the blockchain, an action likely to be bootstrapped by Google’s standard-setting reputation for security services in a variety of contexts. This partnership between Google and Polygon, an Ethereum Layer 2 protocol, corroborates the growing trust in blockchain as a fundamental part of our digital future.
This collaboration implicates the same infrastructure employed by high-traffic platforms like YouTube and Gmail in bolstering the security, low-cost, and accessibility of the Ethereum-for-all Polygon protocol. With Google Cloud now serving as a validator, it will not only stake MATIC, operate nodes, but also have a role in network’s governance.
This kind of strategic engagement with blockchain, known as web3 collaborations, is part of Google’s broader vision for the blockchain ecosystem. Earlier in April, Google Cloud announced its backing of Polygon’s zkEVM scaling solution, along with its support for authentic chains. The rapport further extended with the dispatch of a $200,000 Google Cloud credit funding for a Polygon-aligned start-up.
However, the positive ripples of Google’s immersion in distributed ledger technology (DLT) aren’t solely conferred to Polygon. Other networks such as Tezos, Solana, and Ronin Network are also on Google’s ledger of partnerships. Recently, Google expanded blockchain services on its BigQuery adding 11 new networks, which according to them would provide developers an enhanced data accessibility across multiple chains to develop decentralized applications (dApps) and smart contracts.
Meanwhile, despite this favorable development, we must acknowledge the challenges faced by platforms like Polygon. Recent market upgrades and growing competition, notably from the Ethereum ecosystem, have urged Polygon to broaden its services and ramp up user adoption. Scalability, a crucial concern in blockchain, has been addressed by the advent of Polygon 2.0. Touted as the value layer of the internet, Polygon 2.0 is designed to support multiple chains, facilitate cross-chain transactions, and enhance liquidity all while maintaining network security and scalability.
Indeed, the rich potential of blockchain is being recognized more widely now than ever. Google’s recent foray into this technology could positively impact the way in which other major corporations and the public perceive distributed ledger technology (DLT). However, it’s dangerous to ignore that these developments also foreground some potential conflicts. As large institutional stakeholders keep penetrating the decentralized web, questions about the true implication of ‘decentralization’ and ‘security’ in this new phase of the internet remain open.
Source: Cryptonews
