{"id":44273,"date":"2023-08-04T00:23:50","date_gmt":"2023-08-04T04:23:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/google-cloud-partners-with-celo-network-as-validator-facilitating-ethereum-layer-2-migration\/"},"modified":"2023-08-04T00:23:51","modified_gmt":"2023-08-04T04:23:51","slug":"google-cloud-partners-with-celo-network-as-validator-facilitating-ethereum-layer-2-migration","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44273","title":{"rendered":"Google Cloud Partners with Celo Network as Validator, Facilitating Ethereum Layer 2 Migration"},"content":{"rendered":"<div>\n<p>Google Cloud has partnered with the Ethereum Virtual Machine (EVM)-compatible blockchain network Celo (CELO), and is already running a Celo network validator, according to an announcement.<\/p>\n<p>The initiative builds on a collaboration between the two sides that was originally announced in April, when the focus was on supporting \u201csustainability-focused startups in the Celo ecosystem\u201d with necessary cloud infrastructure.<\/p>\n<p>By becoming a Celo validator, Google Cloud joins existing validators such as Animoca Brands, Deutsche Telekom, and others.<\/p>\n<p>A network validator is an entity that participates in the verification of new transactions, and thus help to secure the network against attacks.<\/p>\n<figure class=\"media\"><oembed data-embedo-height=\"400\" data-embedo-url=\"https:\/\/twitter.com\/CeloOrg\/status\/1686724809642954752\" loading=\"lazy\"><\/oembed><\/figure>\n<h2>Assist with migration to Ethereum layer 2<\/h2>\n<p>As part of the deal with Celo, Google Cloud\u2019s solutions will also assist the project with its planned migration from being an independent blockchain to become a layer 2 network on top of Ethereum.<\/p>\n<p>\u201cIn order to streamline and accelerate the proposed transition to the Ethereum ecosystem, cLabs will leverage Google Cloud\u2019s Blockchain Node Engine, a fully managed node-hosting service,\u201d the announcement said.<\/p>\n<p>The move to become a layer 2 network instead of an independent chain was proposed by cLabs, the core developer behind the Celo blockchain, in July, and is expected to enhance the scope and impact of Celo through increased security &#8211; given that Celo would inherit Ethereum\u2019s security.<\/p>\n<p>The Celo ecosystem already consists of over 1,000 different projects from around the world, including decentralized applications (dApps) such as universal basic income (UBI)-focused project GoodDollar, and so-called community inclusion currencies (CICs) based on Grassroots Economics, Celo\u2019s announcement explained.<\/p>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/google-cloud-partners-with-celo-network-as-validator-facilitating-ethereum-layer-2-migration.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Google Cloud has partnered with the Ethereum Virtual Machine (EVM)-compatible blockchain network Celo (CELO), and is already running a Celo network validator, according to an announcement. The initiative builds on a collaboration between the two sides that was originally announced in April, when the focus was on supporting \u201csustainability-focused startups in the Celo ecosystem\u201d with [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":44274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-44273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Google Cloud Partners with Celo Network as Validator, Facilitating Ethereum Layer 2 Migration | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Google Cloud has partnered with the Ethereum Virtual Machine (EVM)-compatible blockchain network Celo (CELO), and is already running a 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