Google Cloud Joins Polygon As Validator In Crypto Expansion
NEW YORK — To learn more about Google Cloud and its upcoming plans to explore the crypto space, go to Zenger News Future of Digital Assets event on Nov. 14 where Google Cloud Head of Strategy and Web 3 Rich Widmann will be speaking about Web3 Innovations and Google’s Role in Scaling Blockchain Solutions for Mass Market Integration.
Polygon (CRYPTO: MATIC) took to X (previously known as Twitter) to announce Alphabet Inc.’s (NASDAQ: GOOGL)(NASDAQ: GOOG) Google Cloud will now become a part of the decentralized validator set for Polygon Proof-of-Stake (PoS) Network.
The network boasts more than 100 validators besides Google Cloud, which will secure the chain and guarantee data availability.
“While it is possible to delete information from large language models -LLMs, verifying that the information has been removed is just as challenging as the removal process itself, recently published Cointelegraph, a team of scientists from the University of North Carolina, Chapel Hill.
Polygon indicated the same infrastructure used to power YouTube and Gmail will be used for securing its own network. Polygon staking dashboard shows Google Cloud staked just over $5,300 worth of MATIC on Polygon to date.
A few months ago, T-Mobile’s parent company, Deutsche Telekom, also became a validator of Polygon indicating that the latter attracts the interest of large tech firms.
Why Does It Matter? Google’s association with Polygon is likely to have implications for the latter’s expected to switch from a PoS chain to a validium, which is like zero-knowledge proofs.
“To keep pace, businesses must pivot to faster, more adaptive responses, including continuously monitoring and remediating threats to alter behaviors and stop attacks before they happen,” said Giovanni Cozzolino, Manging Director, Security Lead UKI.
They are different in how they store data. Instead of storing data on Ethereum, validiums depend on off-chain storage solutions. This makes the blockchain less clogged and more efficient.
The transition to a zkEVM validium should occur by early 2024 as per Polygon Labs.
In June 2023, Polygon admitted the need for off-chain storage as a decentralization trade-off. Since only the proofs are stored on-chain, rather than the underlying data, validiums don’t benefit from Ethereum’s security.
Join Zenger News’s Fintech Deal Day & Awards on Nov. 13 and Future of Digital Assets on Nov. 14 in New York City to stay updated on trends like AI, regulations, SEC actions and institutional adoption in the crypto space.
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Produced in association with Benzinga
Edited by Othieno B and Newsdesk Manager
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