Google is more interested in blockchain and web3, as well as cryptocurrencies. And recently, the company made an announcement that briefly boosted the value of the SOL cryptocurrency. As a reminder, SOL is the native cryptocurrency of the Solana blockchain.
Surprisingly, Google Cloud offers new products for Solana
In a tweet posted this weekend, Google Cloud made a surprise announcement for the cryptocurrency industry. The company’s branch in Mountain View revealed that it has a block involved in validating the Solana network.
But that’s not all! The company also announced a partnership with Solana blockchain to support it with its “Blockchain Node Engine” service from 2023. Concretely, this means that Google Cloud customers will be able to use this service from the Mountain View company to create on a Solana node.
Currently, this Google Cloud service only supports the Ethereum blockchain. In an announcement published in October, the company explained how Node Engine will speed up the work of developers and allow them to save time (to simplify, because it is quite technical):
“Google Cloud’s Blockchain Node Engine makes this process faster and easier by allowing developers to deploy a new node in a single operation and specify the desired region and network (mainnet, testnet).”
On the other hand, BigQuery, the “multiccloud data warehouse” of Google, will also index Solana’s data. This makes it easier for developers to mine historical blockchain data.
The news that sent the rise of cryptocurrency
In essence, Google wants to bet big on Solana. And after this announcement, the cryptocurrency associated with the blockchain is in a little cloud. In fact, the announcement increased its value by 15%.
#solana price chart 24 hours!#NFT #SolanaArt #SolanaCommunity #SolanaNFTs #SolanaNFT #solanafamily #solanafam #SolanaArtist #solananftart #NFTCommunity #NFTMINT #NFTFam #Nftarts #nftart #NFTsales #NFTs #NFTcollections #nftarti̇st #nftfam pic.twitter.com/ppyb06QZdH
– tattoome (@tattoomealways) November 5, 2022
However, since then, the SOL has undergone a correction. But in any case, the reaction of the markets shows the importance of the support of a tech giant like Google.
This is shortly after the price surged by about 15% two days ago. Carry On $SOL going to the moon from here or not? How to open the box!👇#crypto #business #cryptoprice #TRUST #altcoin pic.twitter.com/KjYaZIFc16
– Bonsai Trade (@bonsai_trade) November 7, 2022
Google Cloud now accepts crypto payments
Before the announcement of this partnership with Solana, Google formalized a collaboration with another major cryptocurrency player: Coinbase. Thanks to the Coinbase Commerce service, Google will allow some web3 players to pay for Google Cloud services using cryptocurrencies. Then, it will be extended to more customers.
Coinbase charges a commission on these crypto transactions. But in return, the cryptocurrency exchange will start using Google Cloud, instead of Amazon’s services.
Although we are currently in a downward trend (besides, Google’s advertising revenues are burdened by the collapse of cryptocurrency values), Google seems to believe in the future of cryptocurrencies, the blockchain and the web3. And Google Cloud is gradually positioning itself to become the most suitable solution for developers working in these areas.