Google Cloud Partners with Celo as Validator - CELO Price Reacts

Celo has added Google Cloud to its list of transaction validators for its network, marking a milestone in transitioning to layer-2.

Google Cloud Partners with Celo as Validator - CELO Price Soars

In an announcement late on August 2nd, the Celo Foundation revealed that Google Cloud, the computing giant, is now serving as a transaction validator for Celo alongside Deutsche Telekom and other organizations. Validators participate in transaction verification and contribute to maintaining blockchain security.

This decision builds on the long-standing relationship between Google Cloud and Celo. The Web2 giant previously collaborated with Celo to provide cloud computing services to Web3 entities on the network. Moreover, the Celo Foundation is a founding partner of Google Cloud's Web3 startup program.

As reported by Coin68, Celo recently approved a proposal to transition from an independent layer-1 to a layer-2 solution on Ethereum, aiming to simplify liquidity transfers between networks and enhance security.

"To streamline and accelerate the transition to the Ethereum ecosystem, cLabs will leverage Google Cloud's blockchain node tooling and fully managed node storage service," the press release stated.

The Blockchain Node Engine will facilitate node operations for participants in the Celo network, meaning transactions can be relayed without waiting for node synchronization, making it easier for Celo 2.0 to integrate with Ethereum.

Carlos Arena, Director of Digital Asset Strategy at Google Cloud, commented:

"At Google Cloud, we are focused on strengthening the Web3 ecosystem by providing founders and developers with the tools they need to scale applications. Launching a validator node on Celo builds on our collaboration with the Celo Foundation and aims to drive project development forward."

Prior to Celo, Google Cloud has also announced partnerships with notable names such as BNB Chain, Solana, Near, Coinbase, Aptos, and Tezos. Meanwhile, rival Amazon Web Services (AWS) is also striving to increase its market share in the Web3 space, albeit more modestly.

Following the collaboration announcement with Google Cloud, CELO saw a 6% increase in price, which quickly retraced to previous levels. As of early morning today (Vietnam time), CELO has resumed its upward trajectory and surged nearly 10% compared to 24 hours ago.

Chart showing the 15-minute CELO/USDT pair on Binance at 10:00 AM on August 3, 2023.