Google Cloud Launches Web3 Portal to Transform Web3 Industry

Google Cloud's Web3 Launch Draws Diverse Responses

Google continues to solidify its presence in the Web3 industry. In this regard, Google Cloud has launched a Web3 portal with testnet tools, blockchain datasets, and learning resources for developers. 

What is Google Cloud?

Google Cloud is a comprehensive suite of cloud computing services offered by Google. It provides infrastructure, platform, and software solutions, including virtual machines, data storage, AI and machine learning tools, data analytics, and developer services. Businesses use Google Cloud to build, deploy, and scale applications and manage IT resources.

What is Web3?

Web3 refers to the next generation of the internet, built on decentralized technologies like blockchain and peer-to-peer networks. It aims to give users more control over their data, identity, and digital assets. In Web3, applications (dApps) are decentralized, and smart contracts enable trustless interactions without intermediaries, promoting transparency and security.

What’s the News?

According to reports, with the Web3 portal, users can obtain testnet tokens to deploy and test their decentralized applications on Ethereum testnets Sepolia and Holesky. It also includes tutorials on developing NFTs, implementing Web3 loyalty programs, and securing digital assets with multi-party computation, along with a learning program. This comes after several recent developments by Google in the Web3 industry. However, the launch of Google Cloud's Web3 portal has received a mixed response from the crypto industry.

According to Coin Gabbar, some stalwarts of the crypto industry have called Google's move a disregard for Bitcoin and cryptocurrency. Unchained's Vice President of Product Marketing, Phil Geiger, said in a post on X that Google is making a big mistake by overlooking a significant cryptocurrency like Bitcoin.

Meanwhile, Mitroplus Labs founder Ivaibi Festo welcomed Google Cloud's move and described the Web3 portal as a "comprehensive resource."

Google Continues to Increase Its Presence in the Web3 Industry

Tech giant Google is continuously increasing its presence in the Web3 industry. The launch of the Web3 portal follows several recent developments by Google in the Web3 industry. Notably, Google recently expanded its features to allow users to search wallet balances across various blockchains like Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom. Earlier in 2024, Google also changed its policies to allow advertisements for some crypto products, including Bitcoin ETFs, on major search engines.

Google has been preparing for the launch of the Web3 portal since 2023, forging several key partnerships. In October 2023, Google Cloud's BigQuery data warehouse was integrated with MultiversX, helping Web3 projects and users gain valuable insights through powerful data analytics and Artificial Intelligence tools within the Google Cloud ecosystem. Notably, in September 2023, Google's BigQuery added 11 blockchain networks to its data warehouse, including Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon’s mainnet, Polygon’s Mumbai testnet, and Tron.

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