- Google Cloud enhances Wormhole’s security, boosting uptime across 30+ supported blockchains.
- Wormhole price jumps 8.94%, with technical indicators signaling cautious market optimism.
- Wormhole partners with Google Cloud, reinforcing Web3 security and infrastructure.
The Wormhole Foundation has welcomed Google Cloud into its Guardian Network. This announcement , made on September 17, 2024, shows Wormhole’s efforts to enhance the decentralized security measures that safeguard its cross-chain platform, which supports over 30 blockchains.
The Guardian Network, which plays a critical role in Wormhole’s security framework, consists of a decentralized set of validator nodes responsible for transaction verification. Notable validators in this network are RockawayX, P2P, Figment, and Everstake.
Bringing Google Cloud into the Guardian Network seriously upgrades Wormhole’s security. According to the report, Google Cloud’s strong infrastructure will ensure high uptime and provide redundancy, automatically replacing any node that experiences downtime, thereby maintaining the network’s integrity.
Dan Reecer, the co-founder and COO of Wormhole Foundation pointed out the importance of this alliance. Dan Reecer noted that the cooperation with Google Cloud is expected to provide a platform-wide security upgrade, minimizing downtime and ensuring unverified messages are kept to a minimum.
Google Cloud’s Commitment to Web3
Rishi Ramchandani, Head of Web3 APAC at Google Cloud, stated that the organization is willing to help with the Web3 space. Ramchandani remarked on Google Cloud’s recognition of Wormhole as a secure hub for cross-chain interoperability.
Wormhole Market Performance Shows Positive Momentum
In the wake of these developments, Wormhole’s market performance has displayed an upward trajectory. At the time of writing, Wormhole was trading at $0.2037, reflecting a 5.59% increase over the past 24 hours, with a trading volume of $25,401,014.
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The Wormhole price chart from the past day reveals fluctuations. The price started around $0.1915 and briefly crashed before a strong rally pushed it above $0.2100.
Source: CoinMarketCap
Following this apex, the price saw minor fluctuations but continued to increase, leveling off around $0.205 USD towards the end of the trading period.
Additionally, technical indicators suggest a cautious confidence in the market. The Moving Average Convergence Divergence (MACD) shows a slight bullish crossover, indicating potential upward momentum, though the overall strength appears weak.
Source: The Relative Strength Index (RSI) stands at 48.13, just below the midpoint, suggesting that the market is neither overbought nor oversold.
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