The cryptocurrency industry has had mixed feelings about Google Cloud’s new Web3 site, which includes testnet tools, blockchain data sets, and developer instructional materials.
New data sets and lessons on how to create nonfungible tokens (NFTs) are among the blockchain development tools offered by Google Cloud’s new Web3 site. But the digital currency industry’s reaction has been all over the map.
“No built-in support for Bitcoin and Lightning? It seems like a mistake to exclude the most significant cryptocurrency,” said Phil Geiger, VP of product marketing at Unchained, in an April 25th post on X.
While this was going on, some people were more open to the launch. In an April 25 article on X, Ivaibi Festo, creator of Mitroplus Labs, characterised the Web3 site as a “complete resource.”
On its website, it states that developers have access to various products and may obtain testnet tokens to test and build decentralized apps on the Sepolia and Holesky testnets of Ethereum.
In addition, there is a study programmed that includes lessons on creating NFTs, creating Web3 reward schemes, and using multi-party computation to safeguard digital assets.
This is in response to other moves Google has made recently inside the Web3 sector. Users may now search wallet balances across several blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom, thanks to a new feature expansion by Google.
Google revised its regulations at the start of 2024 to permit the advertising of certain cryptocurrency products on its main search engine, including Bitcoin exchange-traded funds.
Google seems to be putting a lot of effort into forming relationships in 2023 in anticipation of the portal’s debut that year.
Users and projects on the Web3 platform will be able to take advantage of the robust data analytics and AI capabilities offered by Google Cloud by using the BigQuery data warehouse that was linked with MultiversX in October 2023.
In September 2023, only one month before this, Google’s BigQuery integrated eleven blockchain networks into its data warehouse.
Among the newly added networks were Avalanche, Arbitrum, Cronos, the Görli testnet of Ethereum, Fantom, Near, Optimism, Polkadot, the mainnet of Polygon, the Mumbai testnet of Polygon, and Tron.
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