How Will the Ethereum-Google Blockchain Node Engine Impact Crypto
Ethereum (ETH) was on an absolute rampage to finish October with 20% 7D gains and record ETH short liquidations. Adding to the Web3 blockchain’s tailwinds, Alphabet Inc.’s Google just unveiled Blockchain Node Engine with support for Ethereum.
In Blockchain Node Engine, Google boasts a fully managed node-hosting service for Web3 developers. Google Cloud touts Cloud for Web3 as a way for blockchain devs to:
“Build and scale faster with simple, secure tools and infrastructure for Web3. Get co-sell and growth opportunities, like promotion on Marketplace, and support for on- and off-chain governance.”
The power, resources, and reliability of Google Cloud, together with a blockchain dev environment and the host, could prove a potent mix for new Web3 projects.
How Google Cloud Could Shake up Ethereum?
The new blockchain node engine boasts low latency networking that can scale seamlessly as devs need it, proprietary digital asset security, and simplified node deployment with real-time data and insights from Google Cloud.
Moreover, Google’s node engine also includes simplified node syncing for Ethereum, with one operation to do so. Whereas it is currently a complex process that can take days to sync a node.
In a blog post about Web3 development, Google’s Amit Zavery and James Tromans wrote:
“Ensuring that blockchain infrastructure is ready and available, typically means having a DevOps team on-hand to monitor the system and remediate problems during an outage. Blockchain Node Engine is a fully managed service, which can mean you don’t have to worry about availability. Google Cloud actively monitors the nodes and restarts them during outages as needed.”
Tromans also told TechCrunch:
“We are building foundational primitives to help developers innovate more quickly. Accordingly, Blockchain Node Engine is focused towards [multiple] developer use cases: smart contract development, reading from and writing to the blockchain, etc. How different developers use their fully managed, dedicated blockchain node engine infrastructure will be dependent on their individual use cases.”
Increasing Corporate Adoption of Crypto in 2022
Earlier in the month, Google Cloud announced a partnership with Coinbase to begin accepting crypto for payment. Meanwhile, on a recent Q3 earnings call, Alphabet’s Chief Business Officer mentioned a pullback in Q3 from crypto advertisers twice.
Many new corporate incumbents have begun adopting and integrating blockchain in 2022, including Walmart and Fidelity Investments.
In Q4, Alphabet Inc. joined the fray.
It goes without saying Alphabet’s foray into the blockchain sector is incredibly bullish for the long term and near term. The time, attention, efforts, and talent from a Silicon Valley and Wall Street big data giant are certainly validating the long-term prospects of Ethereum in particular and cryptocurrency generally.
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