The information seems purely technical at first glance. But it reflects a significant new acceleration of a giant in the blockchain universe, moreover, with new decentralized services developed on the Ethereum protocol. Google really advertises it blog this Thursday, October 27, launch a new offering in the Cloud, dedicated to the developers of these new blockchains, whose work is to reinvent a world of discontinuous exchanges in the third generation of the Internet, known as “Web3 “.
Called “Blockchain Node Engine”, this new vertical of Google’s cloud should position the American in the next battle of the Internet, the one that should give pride of place to the new applications of decentralized finance and its ” wise, smart, clever contracts (in which the Ethereum protocol is at the forefront), cryptocurrency trading, NFTs but also metaverses and its private digital currencies.
To achieve this, the architects of these new services, Web3 developers, must build a network of validation “nodes,” connecting computers together and validating encrypted blockchain exchanges. However, as with traditional digital exchanges, these nodes generate data that must be hosted and stored in cloud data centers. This is where Google, which saw its growth slow in the third quarter of historic digital advertising activity, wants to play its card. In early 2022, the acceleration of Google Cloud was already visible with the creation of a dedicated blockchain team united under the banner ” Digital aSSETS “.
Target Ethereum developers
“Web3 businesses that need dedicated nodes can stream transactions, deploy smart contracts, and read or write blockchain data with the reliability, performance, and security they expect from Google’s compute and network infrastructure.”explains the firm.
And to clarify: Ethereum will be the first blockchain supported by the Blockchain Node Engine, allowing developers to provide fully managed Ethereum nodes with secure access to the blockchain “.
The Ethereum blockchain and its associated crypto-asset Ether is the second most valued protocol after Bitcoin, with nearly $200 billion (compared to more than $900 billion for the leader). In this battle of blockchain protocols that will make the applications of tomorrow, Ethereum is however the most widespread, with a large community of developers. The objective of this blockchain is to create a device that is more open than Bitcoin, and not only allows the exchange of digital tokens, but also the performance of other types of transactions, especially through ” the wits contracts “.
Therefore, the challenge for the Mountain View firm is also business. Admittedly, Google Cloud is doing well: in the third quarter, its division continued to grow, with revenues of $6.9 billion, compared to $5 billion during the same period in 2021. But the decline in companies’ advertising budgets is prompting the firm to rely more heavily on its cloud business revenue to compensate.
However, Google faces stiff competition in this segment. Google Cloud comes in third place among cloud providers, well behind Amazon (AWS) and Azure (Microsoft), which won 55% of the pie in August, according to Canalys cited by AFP. The latter are not left out in Web 3, with the Blockchain offering managed by Amazon. With its Azure offering, Microsoft has operated the same acceleration.