Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain

Google Cloud will run an auditor on Blockchain Solana, according to the announcement of Google Cloud Services.

The verification tool will soon add new features that will allow Solana Developers (SOL) to integrate with the cloud services provided by Google.

After news broke at the end of the week, the SOL digital currency rose 12% to about $36.80.

The SOL cryptocurrency then returned to trade at $31 at the time of this article.

Google Cloud announced on Twitter that along with the verification tool, the tech giant is also working to add the blockchain node engine to the Solana blockchain in 2023.

Blockchain Node Engine is a fully managed node hosting service that already supports ethereum blockchain.

Nalin Metall, Director of Products at Google, stated at the Solana Breakpoint Conference in Lisbon:

We want to make it one-click to run the Solana knot in a cost-effective way.

She told Google that she had also started a move that would make it easier for Solana Developers ecosystem to access historical data by indexing Solana data and adding it to the BigQuery data repository.

According to Metal, the feature will be launched in the first quarter of 2023.

Mittal added:

Selected startups in the Solana ecosystem were selected to experiment with their credits program.

There are up to $100,000 in cloud credits available for applicants.

Google Cloud introduced the Blockchain Node Engine in late October to help web developers 3 build and deploy new products on blockchain-based platforms.

Web 3.0 companies that feel the need for a custom contract can now use Google Cloud’s blockchain node engine to migrate transactions, deploy smart contracts, read or write blockchain data with reliability and security performance expected from Google Cloud account and network framework.

The Google branch has moved to provide its services on blockchain Solana in order to facilitate the work of developers of web services and products 3.0, aiming “Google” to remain at the forefront and prepare for the reception of the wave of users for web products and services. 3.0

Urgent: A large digital currency is preparing for a massive explosion.. Thanks to Google

Promising currency with bustling heights Solana has revealed a new partnership with Google, smartphones and a Web3 store in Breakpoint.

Solana has made a series of launch announcements as he prepares to take off in the mainstream, which includes the launch of smartphones, decentralized app stores (DApp) and a partnership with Google Cloud, among others.

The four-day Solana Breakpoint Conference from November 4 to November 7 attracted 13,000 people in only one of the four venues held simultaneously.

Prices may be reflected

Analysts say the SOL price has been on a downward trend for three months, but the flow of news and recent events may lead to a reversal.

It is necessary to highlight that Solana currently has a market value of $11.5 billion at the nominal price level of $32, making it the seventh largest digital currency when excluding stablecoins.

Despite its size, SOL’s performance to date reflects a lackluster 82% decline, while its broader global market value fell 56%.

It has been on a steady downward trend over the past three months, but some traders believe it may have reached the bottom at $26.80 on October 21.

Recently, there has been a lot of speculation about the causes of underperformance and some analysts point to competition from the Aptos network.

The downward trend accelerated on October 11 after a leading decentralized funding application on Solana’s network suffered a $116 million breakthrough.

A potential promising partnership was announced on November 2 after Instagram’s integrated support for solana-based non-fungal symbols (NFTs).

This allows users to create, sell and display digital arts and their favorite collectibles. SOL immediately interacted with the 5.7% pump in 15 minutes but recovered the entire motion within the next hour.

Excessive optimism

The futures premium index (base rate) should operate between 4% to 8% to compensate traders for “securing” funds until the expiry of the contract.

Thus, levels below 2% are downward, while figures above 10% indicate excessive optimism.

Data from Laevitas shows Solana futures have been trading down for the past 30 days, meaning the futures price is lower than normal spot exchanges.

Solana Now

Solana’s currency rose during Sunday trading in the range of 5% while jumping 15% in a week as it reached the highest levels of $36 for the code, while rising 10% in thirty days.

However, Solana, which currently has a market value of $ 13 billion, has declined by 80% since the beginning of the year, while rising by 20% in 60 days and by 15% in 90 days.

more details

Vibhu Norby, CEO and founder of Solana Spaces unveiled the Solana Store in Miami, showing a rambling video of people inspecting the store.

The CEO and founder of Solana Spaces said, “Now anyone anywhere can create their own Solana store.”

While explaining the process of building the Solana Store, Norby announced the launch of GeoNFTs – a non-fungal code (NFT) app – which allows users to geo-mark an area of their city.

“If you have GeoNFT, you can replace it 1 for 1 with the exclusive rights to open a Solana store in that area,” Norby said.

With GeoNFTs, Solana aims to empower individual entrepreneurs who want to get into the business.

smartphone

Solana smartphones are available for pre-order in early 2023, and Solana Mobile said while announcing the launch of its upcoming smartphones: “They are for people,” however, the company has yet to announce an official date for availability.

One of the hallmarks of Solana’s phone is its ability to safely store private keys to cryptocurrency portfolios.

Solana’s smartphone will be powered by a Qualcomm chipset that has an arm-based SoC, allowing for higher productivity.

Austin Federa | Breakpoint Lisbon

Web3

In preparation for Web3 disruption, Solana announced the launch of Solana App Store, during the conference, a Solana spokesperson highlighted the need for a good user experience in the Web3.

In support of this case, Solana’s DApp store promises to get rid of fees, revenues and fees. Furthermore, the company has confirmed with interested participants that orders will open in January 2023.

According to the news, Google Cloud will soon become a validation tool for Solana’s contract, and Google Cloud is working to create a verification tool for Solana to produce and validate blocks to participate in the network.

Google Cloud’s Blockchain Node Engine, which was first announced on October 27, will be shown in the Solana series from 2023, and integration will allow users to launch the custom Solana node into the cloud.

In addition, Google Cloud will catalogue Solana’s data and bring it to BigQuery – a fully managed data repository without servers – by next year, making it easier for Solana developers to access historical data.

The article does not express a recommendation or a nomination, but merely monitors market volatility, as trading in cryptocurrencies carries high risks including the risk of losing some or all of the investment amount, which is not entirely subject to bodies and markets.