Google Cloud Launches Blockchain Node-Hosting Service
- The “Blockchain Node Engine” was designed to be a fully managed service that would help Web3 developers build and deploy new products for the blockchain.
- It features a number of security features, such as Google’s Cloud Armor that helps prevent DDos attacks from slowing down a network.
Google Cloud sign displayed in front of their headquarters in Silicon Valley, California, USA, July 2019. Sundry Photography/Shutterstock
Google Cloud is entering the blockchain space with a new node engine service that should streamline the process of setting up a new blockchain node, the company said in a blog post on 27 October.
According to the announcement, “Blockchain Node Engine” was designed to be a fully managed service that would help Web3 developers build and deploy new products on blockchain-based platforms. The new product will initially support only the Ethereum blockchain, but the company wishes to expand the node engine to cover a variety of networks. The company wrote in the blog post:
“While self-managed nodes are often difficult to deploy and require constant management, Blockchain Node Engine is a fully managed node-hosting service that can minimize the need for node operations. Web3 companies who require dedicated nodes can relay transactions, deploy smart contracts, and read or write blockchain data with the reliability, performance, and security they expect from Google Cloud compute and network infrastructure.”
One of the goals of the new service is to reduce the need for a dedicated DevOps team as Google Cloud would actively monitor the nodes, and restart them during outages and when needed. The Node Engine will allow developers to deploy new nodes with a “single operation” at the desired region and network.
Google Cloud’s new service also comes with various security features such as Google’s Cloud Armor, which was designed to prevent distributed denial-of-service (DDos) attacks that could slow down networks. Nodes will also be placed behind a virtual private cloud (VPC) firewall, which will allow only trusted machines and users to communicate with the client endpoint.
The move came less than a year after Google Cloud announced it was forming a dedicated digital assets and web3 services team, with one of their goals being the creation of a node validator as a service and data hosting services.
- The Google Play store has changed its policy on digital assets, and will now allow developers to incorporate NFTs into their apps and games on the platform.
- Publishers will have to follow certain rules, however, such as maintaining transparency regarding the use of NFTs and not allowing gambling in their apps and games.
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- The crypto exchange confirmed on Tuesday that it has started the process of integrating the technology, and that it is already running Lightning Network nodes.
- Crypto exchanges Kraken, OKX, and Bitfinex have already integrated the technology into their platforms, while Coinbase said it will do so in the future.
- The popular web3 wallet has partnered with NFTBank, a firm building NFT price-tracking tools, in order to make the new feature possible.
- NFTBank claims it can offer over 90% accuracy on its prediction thanks to its machine learning algorithm that takes into account floor price, rarity, and bid/ask distribution for NFTs.