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Solana’s Soaring Success: +62% Growth and Google Cloud Integration

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In a month of remarkable gains, Solana has once again surged to the #7 spot in the market cap rankings, witnessing a substantial increase of +62% in value throughout October. Notably, the SOL community’s enthusiasm is evident, as nearly 2% of discussions pertaining to the top 100 assets revolve around SOL, and escalating trading volume points toward a bullish trend.

Google Cloud’s Solana Integration

However, amid this excitement, enthusiasts have another reason to celebrate. Solana achieved milestone by integrating into Google Cloud’s BigQuery data analytics service. This integration enhances access to Solana-based data and extends support to Solana as the 20th blockchain network. The announcement was initially made during Breakpoint 2022 in Lisbon, and the community eagerly anticipated this collaboration.

Google Cloud’s BigQuery is a serverless data warehouse known for its machine learning, artificial intelligence, and business intelligence capabilities. By incorporating the network into BigQuery, the objective is to provide deeper insights into blockchain analytics. However, the SOL network Foundation and Google Cloud took their time to ensure that the dataset captures a comprehensive overview of on-chain activities, delaying the go-live date to Q1.

This integration opens the doors for developers, enterprises, and individual users to query Solana data, enabling them to answer complex questions related to transactions, NFT minting, wallet activities, and more. By leveraging Google’s Bigtable distributed data storage service alongside BigQuery, the ecosystem also grants access to archival data from the SOL network.

One of the early adopters of this integration is the Multichain NFT app, Floor, which utilizes the network’s integration to provide valuable data on Solana NFT sales and listings to the BigQuery platform. It allows analysts and users to gain a deeper understanding of the Solana NFT ecosystem.

With Google Cloud’s BigQuery, Solana has broader implications for the adoption of web3 by web2 companies. Comprehensive datasets like BigQuery can help traditional tech and finance firms better understand the potential of blockchain and crypto, ultimately guiding their decision-making processes.

Moreover, web3 developers can conduct advanced research using this dataset, facilitating in-depth analysis and the creation of informative visuals to represent network activity. However, it will also be instrumental in comparing user activity and network fees across different blockchains, offering valuable insights to projects seeking to optimize their operations.

Related Reading | Shiba Inu’s Mysterious Whale: $36 Million Shifts in 24 Hours

Google Cloud’s Big Bet On Solana For 2023

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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.

Google Cloud and Near Protocol Collaborate To Extend Support for Web3 Developers

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Google Cloud and Near Protocol have joined together, as per the details from a recent announcement from the Near Foundation, to provide infrastructure for Pagoda, Near’s Web3 startup platform.

By providing the infrastructure for Near’s Remote Procedure Call node provider to Pagoda, this agreement would enable Google Cloud to offer “technical assistance” to Near award recipients, according to a statement made on October 4.

A decentralized application (DApp) framework called Near Protocol places a strong emphasis on developer and user-friendliness. In order to scale, it makes use of sharding technology. It competes with Ethereum by supporting smart contracts and being a proof-of-stake blockchain.

Pagoda is a startup platform that was introduced in February 2022 that offers Web3 developers developing on the platform a full-stack toolset for creating, launching, and maintaining their Web3 applications, or DApps, on the blockchain.

“We are thrilled to be collaborating with those who pioneered the Internet as we know it.” “This partnership marks a new chapter for us as we continue to offer the best support possible for the next generation of visionaries choosing to build on the NEAR protocol.”

says Marieke Flament, CEO of the NEAR Foundation

Google Cloud to power Near developers

NEAR has experienced exponential growth over the past year as a result of its very quick, highly secure, and endlessly scalable protocol. On the NEAR network, there are currently over 20 million accounts, 200 million transactions have been made, and between 300,000 and 400,000 transactions happen every day.

Carlos Arena, director of digital assets at Google Cloud, said in a statement that his organization’s infrastructure will provide Near developers a way to “grow and scale” and that the organization will keep supporting “new products and services on blockchain-based platforms.”

Similar agreements were made in September between Google Cloud and Binance’s BNB Chain smart contract blockchain platform, enabling entrepreneurs creating goods and services on the BNB Chain blockchain to also develop on Google Cloud’s scalable, secure, and open-source infrastructure.

A brand-new digital assets team was established by Google Cloud in January to aid in the growth and development of the blockchain ecosystem. The goal of the digital asset team is to assist Google Cloud users in creating, exchanging, storing, and launching new goods on blockchain-based platforms.