Google announced on Saturday that its cloud computing subsidiary, Google Cloud, is running a validator on the Solana blockchain. The company will be introducing tools to support node operators and Solana developers in the near future.
Quick Take:
- Google Cloud will join the Solana network and add Solana to its wide range of products and services.
- According to Cryptoslate, the company confirmed that it will run a Solana validator that generates blocks, allowing it to participate in and validate the Solana network.
- Solana’s incorporation into the Blockchain Node Engine will drastically reduce the time necessary to run a Solana node.
Solana (SOL) shares rose 15% after the breaking of the news and were trading at $36.80. The company announced that it will also participate in and verify the Solana network by running a block-producing Solana validator.
In addition to being a validator, Google Cloud has been working with the network to incorporate its Blockchain Node Engine.
Google Cloud provides a fully controlled node-hosting solution called Blockchain Node Engine that simplifies node management. The service, which offers turnkey node hosting, was first limited to Ethereum and its rapidly growing developer community.
Solana X Google Cloud
With Solana’s integration into the Blockchain Node Engine, the time needed to host a Solana node has been dramatically reduced. This also makes the protocol available to a far wider audience.
The firm also said that it is aiming to index Solana network data by putting it into BigQuery. All in all, Solana blockchain’s enormous database can be fast and effective utilizing Google Cloud’s data warehouse thanks to Google’s extensive computing resources.
“We want to make it one-click to run a Solana node in a cost-effective way,” said Google Web3 product manager Nalin Mittal at Solana’s Breakpoint conference in Lisbon.
Google Cloud is offering $100,000 in Cloud Credits to “select startups in the Solana ecosystem,” Mittal added.
Onstage at Breakpoint, Solana founder Anatoly Yakovenko praised Google’s addition of Solana to BigQuery as a “pretty significant boost.”
When asked how Google can help with “hard engineering problems,” Yakovenko mentioned building better SDKs to speed up application development and addressing the “unsolved problem” of storing seed phrases.
Effect on the Price of Solana
After the cloud service provider revealed that it would now function as a validator for the Solana network, SOL launched a rally that increased its price by 15%, allowing it to temporarily exceed the $40 level.
Despite dropping about $5 in its current trading price, the cryptocurrency is still up nearly 9% over the previous seven days and 28% over the last two weeks.
This month the 10th biggest cryptocurrency by market capitalization has increased by 7.2%, but it is still far from its all-time high (ATH) of $259.96, which it reached this month last year.
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