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• Google partners with Coinbase
• Blockchain Node Engine is designed to minimize the need for node operations
• Web3 companies need to save time and resources
Google coinbase agreement
A few weeks ago, the American company Google entered into an agreement 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.
The first point is that Google Cloud will be able to allow certain customers, starting with those in the Web3 ecosystem, to pay for its cloud services via certain cryptocurrencies via Coinbase Commerce. Web3 developers will also have access to Google Cloud 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. Additionally, Coinbase has selected Google Cloud as a strategic cloud provider to build advanced exchange and data services. This means that Coinbase will leverage Google’s powerful cloud computing platform to process blockchain data at scale and improve the global reach of its crypto services by leveraging Google’s fiber optic network.
Blockchain Node Engine
Now, Google is showing new ambitions in terms of the cryptography and Web3 market. As the company around the worldwide 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. These nodes – a device such as a computer, laptop or server that contains a complete copy of the blockchain’s transaction history – constitute the governance infrastructure of a blockchain. Ultimately, the nodes in a blockchain form a peer-to-peer network that constantly exchanges the latest blockchain data so that all nodes stay in the same state. Blockchain Node Engine aims to enable Web3 businesses 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 bring certain benefits to Web3 organizations. The most obvious advantage is the saving of time and resources. As a result, Google makes the node available in one operation and Web3 organizations no longer have to wait several days for the node to synchronize with the network after installation. Moreover, 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 nodes. By placing nodes behind a virtual private cloud firewall, only trusted machines and users can communicate with client endpoints “, says the blog post. Additionally, the Blockchain Node Engine is a fully managed service, so you don’t have to worry about availability. “Google Cloud actively monitors nodes and restarts them if necessary in the event of an outage.” Overall, the Blockchain Node Engine helps users focus more on innovating and scaling their Web3 applications with the times.
E. Schmal / Editor finanzen.net
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