Google Cloud is launching a new Ethereum (ETH)-supported blockchain project to encourage Web3 development.
The new project, called the Blockchain Node Engine, is a managed node-hosting service that aims to minimize the need for node operations, according to new a blog post from Google Cloud executives.
Ethereum is the project’s first supported blockchain.
Explain the executives,
“Web3 companies who 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 compute and network infrastructure.”
Google has launched multiple crypto-related developments this year. Earlier this month, news broke that the tech giant partnered with crypto exchange Coinbase to allow its users to pay for cloud services with crypto assets.
In early 2023, Google Cloud will begin accepting cryptocurrency payments using the Coinbase Commerce service from select Web 3.0 developers.
An August report from crypto analytics platform Blockdata, based on figures from market intelligence platform CB Insights, indicated that Google’s parent company, Alphabet, has invested $1.50 billion in blockchain and crypto startups Fireblocks, Dapper Labs, Voltage and Digital Currency Group.
And last January, news surfaced that Google was creating a unit dedicated to researching blockchains and other technologies centered around crypto assets.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/PLST_4D
