• Google partners with Coinbase
• Blockchain Node Engine is designed to minimize the need for node operations
• Web3 companies should save time and resources
Google coinbase deal
A few weeks ago, the US company Google completed a deal with the cryptocurrency trading platform Coinbase. In a press release, Coinbase explains that this partnership was formed to support and accelerate Web3 adoption and innovation. The partnership consists of four parts.
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The first point is that Google Cloud will be able to allow select customers, starting with those in the Web3 ecosystem, to pay for its cloud services through select cryptocurrencies through Coinbase Commerce. Web3 developers will also have access to Google Cloud’s blockchain data via BigQuery, which will be supported by Coinbase Cloud’s Node service. Third, Google will use Coinbase Prime for institutional crypto services including, for example, custody and reporting. Also, Coinbase has selected Google Cloud as a strategic cloud provider for building advanced exchange and data services. This means that Coinbase will leverage Google Cloud’s powerful computing platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google’s fiber optic network.
Blockchain node engine
Now Google shows further ambitions in terms of crypto market and Web3. As the company around the globally used search engine explains in a blog post, fully managed node hosting is being introduced for Web3 development. The “Blockchain Node Engine” is a fully managed node hosting service designed to minimize the need for node operations. Such nodes – a device such as a computer, laptop, or server that contains a complete copy of the blockchain’s transaction history – are the governing infrastructure of a blockchain. Ultimately, the nodes of a blockchain form a peer-to-peer network that constantly exchanges the latest blockchain data so that all nodes remain in the same state. Blockchain Node Engine aims to enable Web3 companies that need dedicated nodes to route transactions, deploy smart contracts, and read or write blockchain data without the need for constant administration.
Support Web3 organizations
According to Google, the Blockchain Node Engine should result in some advantages for Web3 organizations. The most obvious benefit is the time and resource savings. As a result, Google makes the node available in a single operation, and Web3 organizations no longer have to wait several days for the node to sync with the network after installation. In addition, the security standard is also a clear advantage for users of the blockchain node engine. “Blockchain Node Engine provides security configurations that can prevent unauthorized access to the nodes. By placing the nodes behind a virtual private cloud firewall, only trusted machines and users can communicate with the client endpoints,” the blog post reads. In addition, the Blockchain Node Engine is a fully managed service, so there is no need to worry about availability. “Google Cloud actively monitors the nodes and restarts them as needed in the event of failures.” Overall, the Blockchain Node Engine helps users focus more on innovating and scaling their Web3 applications with their time.
E. Schmal / Editor finanzen.net
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