Web 3 Adoption by Leading tech Companies | Google Cloud Joins Polygon as validator

The new phase of the Internet is known as web 3.0 and as of now it is in its early days but the kind of adoption it is getting now and the road map is building up is great. Everything needs time to grow and even the same fundamental is applicable for the adoption because it takes time for people to adopt something new. Change is not easy even if it is exciting and brings a lot of value because before we adopt it we try to ensure that it is going to be a value addition and seems like the same is happening with the blockchain and web 3.0

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Polygon is one of the projects that has been doing well for the last few years and it has given a fantastic chain to the projects that were compatible only with Ethereum before. Transaction cost is something that is still a bigger problem on the Ethereum blockchain but with polygon, this has been solved up to an extent. Maybe projects are not bothered about this transaction fee because it can be a very small component for them but for a user, it matters. I am a user and I will hardly transact on something where the fee is going to be a few dollars because it does not make any sense to spend a lot of money on just executing a transaction. Because of this region ethereum chain had to deal with a lot of criticism in the market.

Google on the Polygon network

Who does not know Google because it is the top company in the world that has been providing a bunch of services including some popular ones that are known as Gmail and Youtube etc. There was a time when Google was completely against the crypto and blockchain but now it seems that they are trying to realise the value and potential that this segment has. At least the recent move they have made shows this however they have not shared any statement in public but their action speaks louder than their words as they have joined Polygon network as a validator. Google Cloud is one of the products of the company and this has joined Polygon Network as a validator on proof of stake network.

They made an official announcement on September 29th that they are one of the validators on the polygon POS network and they will contribute to securing the network and governance in a decentralised form. I think this is a great onboarding on the polygon because having Google Cloud on their network is a big addition and probably it will encourage more companies to come forward and join the chain. We know that the Matic is the native token for this blockchain network and if this adoption grows significantly then the same impact can be seen on the Matic.

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I have been following this project for quite some time and even I do the DCA on Matic coin so I am preparing myself to get some fantastic returns in the long run of course because I expect that the next bull run is going to be a good time for the Matic coin. Please do not consider this as financial advice because there is no guarantee of the returns but if you think that this project is worth investing in and highest potential then you can also do but it is purely going to be based upon your research and study.

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Polygon network is open for anyone to become one of the validators and the primary requirement is to stake the matic token. This is why it is called proof of stake because technically there is no mining that happens for bitcoin. Ethereum has also moved to proof of stake from proof of work and this was the biggest move for the chain so maybe in future we are going to see more companies following the proof of stake model rather than the traditional model which is known as proof of work. There is some technical requirement that needs to be fulfilled but the major requirement is to hold a chunk of tokens to get eligible for a validator role on the network. As you can see in the above snapshot Google has staked more than 10K tokens and it has become part of this blockchain's network validator.

I'm not much into technical but I believe that this onboarding is a good signal that Polygon can get more attention from many other companies because Google Cloud onboarding is a good achievement for the chain. I will continue to follow my DCA strategy on Matic because I believe that in the next couple of years, Matic will be much more valuable and as part of my diversified strategy I have already made it part of my portfolio.

Thank you

Posted Using LeoFinance Alpha