The tech giant Google’s cloud computing service, Google Cloud, has announced its participation as a validator on the Celo network, which is an exciting development for the blockchain industry. The Celo Foundation confirmed this collaboration, highlighting the significance of having a tech behemoth like Google on board. As a validator, Google Cloud will play a crucial role in confirming new transactions and ensuring the integrity of the Celo blockchain.
— Celo 🦇 🌳 (@CeloOrg) August 2, 2023
This partnership builds upon the existing relationship between Google Cloud and Celo, which had previously collaborated in offering seminars and cloud computing services to developers and Web3 founders working on the Celo network. With this new project, both entities are taking a step further to strengthen their cooperation.
Proposal Approved: Celo Network Transitions to Ethereum Layer-2 Solution
Recently, the Celo network made a significant decision by approving a proposal to migrate from its native blockchain to an Ethereum layer-2 solution. The primary objectives behind this move are to enhance security measures and facilitate seamless liquidity sharing between the two networks.
The proposal received substantial support from the Celo community, with 128 votes in favor, only 2 votes against, and 1 abstention. Given Celo’s EVM compatibility, developers familiar with Ethereum can smoothly transition their current applications or even create new ones using the same tools.
Google Cloud’s Blockchain Node Engine to Expedite Transition
To expedite and streamline the migration process to the Ethereum ecosystem, cLabs, the team behind Celo, will leverage Google Cloud’s Blockchain Node Engine. This fully managed node-hosting service will play a crucial role in synchronizing Celo 2.0 with the Ethereum network. One of the key advantages of the Blockchain Node Engine is its ability to relay transactions without waiting for nodes to synchronize, making the entire process more efficient.
The Celo Foundation had already demonstrated its commitment to fostering innovation within the Web3 space by launching the Web3 startup program on Google Cloud. The recent announcement of Google Cloud’s participation as a validator has already had a positive impact on CELO’s price, which briefly spiked to nearly $0.55. As of now, the coin is trading at $0.497, showcasing a 1.45% increase in the last 24 hours, according to CoinMarketCap.
Embracing a Bright Future with Google’s Involvement
The partnership between Google Cloud and Celo opens up a world of possibilities for the blockchain industry. Google’s extensive resources and expertise in cloud computing and infrastructure will undoubtedly bolster Celo’s network. As the validator on the Celo network, Google Cloud’s involvement lends credibility and attracts more interest from developers and businesses alike.
Moreover, the transition to an Ethereum layer-2 solution is a strategic move to ensure scalability and enhance interoperability between Celo and Ethereum. This step will foster collaboration between two thriving blockchain ecosystems, potentially leading to groundbreaking applications and solutions.
The collaboration between Google Cloud and Celo represents a significant milestone in the blockchain space. As Google Cloud becomes an integral part of the Celo network as a validator, it brings with it a wealth of knowledge and technology, promising a brighter future for both platforms. The recent approval of the proposal to transition to an Ethereum layer-2 solution further solidifies Celo’s position in the market and sets the stage for a more interconnected and efficient blockchain ecosystem.
With Google’s backing, Celo is poised to attract more developers, businesses, and users, driving innovation and growth in the Web3 domain. As the industry continues to evolve, this partnership demonstrates how major players from traditional tech industries are recognizing the potential of blockchain technology and actively contributing to its advancement. The future of blockchain looks promising, and with collaborations like this, it’s only a matter of time before we witness groundbreaking applications that will shape the way we interact with technology and finance.