BREAKING: SOL Price Skyrockets 16% As Google Cloud Announces A New Block Producing Solana Validator To Participate In Network's Validation Process 14

BREAKING: SOL Price Skyrockets 16% As Google Cloud Announces A New Block Producing Solana Validator To Participate In Network’s Validation Process

  • Google Cloud has announced a new block-producing Solana validator to participate in the network’s validating process
  • The platform has also launched Blockchain Node Engine, A web3 node hosting service on Solana.
  • Google Cloud has also announced its partnership with Coinbase.

Sol prices are up 16% at press time as Google Cloud took to Twitter to announce a new block-producing solana validator. The platform has also launched Blockchain Node Engine, a service that helps” Web3 developers build and deploy new products on blockchain-based platforms.”

Solana x Google Cloud

Speculations are rife in the crypto market about whether the Solana blockchain is soon forming an alliance with Google Cloud.

A new tweet posted by Google Cloud has led the speculation bandwagon to run amok. Google Cloud took to Twitter to share a new tweet that may indicate a possible Solana-Google Cloud connection.

The tweet had garnered 5000 likes at press time and had also been retweeted by Solana’s co-founder Toly. Magic Eden, the Solana Beach-based NFT marketplace, has also responded to the tweet posted by Google Cloud.

No additional details have been shared about what the new Solana x Google Cloud collaboration is all about, however, crypto Twitter is speculating about a possible crypto NFT endeavour that might be helmed by both the concerned organizations.

However, Google Cloud has announced how the platform is “running a block-producing Solana validator to participate in and validate the network.”

In addition to this, Google Cloud tweeted that it is currently working with Solana to bring a blockchain node engine to the Solana chain next year for the users to enjoy a hassle-free node hosting system.

“While self-managed nodes are often difficult to deploy and require constant management, Blockchain Node Engine is a fully managed node-hosting service that can minimise the need for node operations.” Web3 companies that require dedicated nodes can relay transactions, deploy smart contracts, and read or write blockchain data with the reliability, performance, and security they expect from Google Cloud computer and network infrastructure. The announcement later adds

Per the announcement, Ethereum will be the first blockchain that will be supported by the blockchain node system launched by Google Cloud.

Furthermore,  Google Cloud will also help in indexing Solana’s data to make it easier for the developers to access past data records.

Google Cloud Will Now Accept Payments In Cryptocurrency

With an array of new announcements, the platform also declared that it will soon be accepting crypto payments via Coinbase Commerce.

“Today, Google Cloud and Coinbase announced a new, long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.The collaboration will involve Coinbase selecting Google Cloud as a strategic cloud provider to build advanced exchange and data services.” Coinbase will use Google Cloud’s powerful compute platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google’s premium fiber-optic network. Coinbase will also build its global data platform on Google Cloud’s secure infrastructure and leverage their leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights. The announcement later shared.

Under the said partnership, Google Cloud will permit select users to buy cloud storage on the platform by making payments in cryptocurrencies.

“Powered by Coinbase Commerce—which enables merchants globally to accept cryptocurrency payments in a decentralized way—the new payments experience will benefit Google Cloud’s customers and partners by increasing the optionality of payments for Google Cloud services.”

The price of SOL has responded positively to the news of Google Cloud launching a node hosting service on Solana. At the time of writing, SOL is trading at $38.48 up 16% in the last 24 hours.