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You are here: Home / Cryptocurrency News / Altcoin News / Google Cloud’s Big Bet On Solana For 2023

Google Cloud’s Big Bet On Solana For 2023

By Lipika Deka | Edited By Lipika Deka,November 6, 2022, 7:51 PM

Google Cloud's Big Bet On Solana For 2023

Solana ecosystem received a “pretty big lift from Google” as the cloud server giant announced plans to deploy Blockchain Node Engine to the chain in 2023 as well as indexing SOL data, bringing it to BigQuery.

Through its official Twitter handle, Google Cloud stated that the moves would enable anyone to launch a dedicated Solana node in the cloud and make it easier for the SOL developer ecosystem to access historical data via the addition of BigQuery data warehouse.

Last month, the computing platform introduced its Blockchain Node Engine allowing Web3 developers to build and deploy new products. Per the blog, the product is a fully managed node-hosting service that can minimize the need for node operations.

Additionally, the offering also includes various security features like Google’s Cloud Armor, which guards against DDoS attacks, which spam networks and slow them down.

According to Google, its nodes will also be protected by a VPC firewall, which lets customers choose the specific permissions they need. Besides, customers have the option to select the geographic location of their nodes.

It already supports projects and developers for Ethereum. Solana founder Anatoly Yakovenko praised Google for integrating Sol into BigQuery.

When asked how Google can help with “hard engineering problems, ” Yakovenko mentioned improving SDKs to hasten the creation of applications and tackling the “unsolved difficulty” of storing seed phrases.

On the other hand, Solana’s NFT trading activity has risen sharply amidst the rollout of y00ts, a highly anticipated NFT project that got delayed after a September mint.

Solana NFT Frenzy Is Far From Cooling Off?

Data from Tiexo showed trading volume for NFTs created on Solana has on one occasion increased by a whopping 170% in just 24 hours, reaching roughly 230K SOL across the market. That is worth more than $7.5 million.

Proponents claimed that y00ts, the replacement for the well-known DeGods project on Solana, is the reason for the spurt in the trading volume. The y00ts collection comes with 15,000 different profile photographs, each with a unique combination of design elements.

The news assumed significance as sales of NFTs on the Solana blockchain dropped by 50% in October. But after the y00ts artwork’s delayed reveal, November might witness a return to intense activity.

Filed Under: Altcoin News, Cryptocurrency News

About Lipika Deka

Lipika is a crypto-journalist at TWJ. A graduate in economics and finance, she has a keen interest in the political and socio-economic facets of blockchain technology and the cryptocurrency industry.

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