- One notable aspect of the article is the varied response from the cryptocurrency community to Google Cloud’s Web3 portal.
- While some individuals express disappointment over the absence of native support for Bitcoin and Lightning Network, others welcome the platform as a valuable resource for blockchain developers.
Google Cloud has recently introduced its Web3 portal, designed to cater to blockchain developers by providing access to datasets and tutorials on non-fungible tokens (NFTs). However, the response from the cryptocurrency community has been mixed.
While some members of the crypto sphere have expressed disappointment over the portal’s lack of native support for Bitcoin and Lightning Network, others have welcomed it as a valuable resource.
Phil Geiger, Vice President of Product Marketing at Unchained, criticized the absence of native Bitcoin and Lightning Network support, considering them crucial aspects overlooked by Google.
Similarly, MartyParty, a pseudonymous crypto trader, voiced concerns about Google’s perceived lag behind other industry players.
On the contrary, Ivaibi Festo, the founder of Mitroplus Labs, hailed the Web3 portal as a comprehensive resource, indicating a positive reception within certain segments of the community.
The portal offers developers access to various tools and products, including testnet tokens for deploying and testing decentralized applications (DApps) on Ethereum testnets like Sepolia and Holesky. Additionally, it provides educational materials such as tutorials on NFT development, Web3 loyalty programs, and securing digital assets with multi-party computation (MPC).
Google’s foray into the Web3 space follows recent advancements, including the ability to search wallet balances across multiple blockchains and updates to advertising policies allowing certain crypto products like Bitcoin ETFs to be advertised on major search engines.
The groundwork for the Web3 portal was laid last year when Google Cloud integrated its BigQuery data warehouse with MultiversX, enabling Web3 projects to leverage powerful data analytics tools. By September 2023, Google’s BigQuery expanded to include data from 11 blockchain networks, facilitating deeper insights into blockchain data.
However, amidst these developments, Google has also faced challenges in the crypto space. Earlier this month, the company filed a lawsuit against individuals from China for using the Google Play store to promote fake crypto investments. This legal action reflects Google’s commitment to combating fraudulent activities within the crypto ecosystem.
Halimah DeLaine Prado, Google’s General Counsel, emphasized the company’s dedication to ensuring platform safety and integrity, seeking a permanent injunction against the defendants and claiming damages exceeding $75,000.
In conclusion, while Google’s Web3 portal signifies its growing involvement in the blockchain space, the diverse reactions from the crypto community highlight the need for further refinement and inclusivity in catering to the evolving needs of developers and users alike.
Google’s Web3 Portal Sparks Debate in Crypto Circles
The launch of Google Cloud’s Web3 portal has ignited a spectrum of opinions within the cryptocurrency community. While some view it as a step forward in blockchain development, others express concerns over its limitations. As Google continues to navigate the complexities of the crypto space, the dialogue surrounding its initiatives underscores the importance of inclusivity and responsiveness to the diverse needs of stakeholders.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
