Wormhole has announced a strategic partnership with Google Cloud, aiming to enhance Web3 security and infrastructure. By integrating Google Cloud’s services, Wormhole strengthens the security of its cross-chain platform, which currently supports more than 30 blockchains. This partnership has led to a price increase of 8.94% for the altcoin, signaling cautious optimism in the market.
Major Partnership Between Google Cloud and Wormhole
Wormhole Foundation has officially integrated Google Cloud into its Guardian Network, a decentralized network of validator nodes responsible for verifying transactions. This move marks a significant step forward in bolstering the security measures of Wormhole’s cross-chain platform, which supports more than 30 blockchains. Key validators within the network include RockawayX, P2P, Figment, and Everstake.
Google Cloud 🤝 Wormhole@GoogleCloud is joining the Guardian Network, Wormhole’s security system, to validate cross-chain messages and enhance decentralization.
Google Cloud will also accelerate ZK research and support ecosystem growth.
Read more below ⤵️ pic.twitter.com/yVaC1CyjAl
— Wormhole (@wormhole) September 18, 2024
With the addition of Google Cloud, Wormhole’s security capabilities are significantly enhanced. Google Cloud’s robust infrastructure provides high uptime and redundancy, allowing the system to automatically replace any failed nodes, ensuring the network’s integrity remains intact. According to Dan Reecer, Co-Founder and COO of Wormhole Foundation, this collaboration will provide a platform-wide security upgrade, minimizing downtime and reducing the number of unverified messages.
Google Cloud’s Commitment to Web3
Rishi Ramchandani, Head of Web3 APAC at Google Cloud, reaffirmed the company’s commitment to assisting the development of Web3 projects. He emphasized that Google Cloud considers Wormhole a secure hub for cross-chain interoperability, further solidifying the platform’s position in the blockchain ecosystem.
Google Cloud x @wormhole pic.twitter.com/RD6LpRZK4B
— Dan Reecer (@danreecer_) September 18, 2024
Positive Price Momentum for Wormhole’s Altcoin
As reported by Deythere, following this significant partnership, the market showed positive reactions, with Wormhole’s altcoin price rising from $0.19 to $0.21. At the time of writing, the token was trading at around $0.20, representing a 4% increase within 24 hours. Additionally, the token’s trading volume surged by 24%, reaching $25.43 billion, reflecting heightened interest from the market.
The recent price fluctuations in Wormhole’s altcoin showed a promising trend, starting the day at around $0.1915 before climbing above $0.2100 during a strong rally. Although there were minor fluctuations after reaching the peak, the price stabilized at around $0.205 by the end of the trading session.
Technical indicators also suggest cautious market confidence. The Moving Average Convergence Divergence (MACD) indicates a slight upward trend, though overall strength remains weak. The Relative Strength Index (RSI) is just below the midpoint at 48.13, signaling that the altcoin is neither overbought nor oversold.
Wormhole, Google Cloud, Guardian Network, cross-chain, altcoin
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