Google Cloud’s Web3 portal launch sparks debate in cryptocurrency industry

Recently, Google Cloud launched a Web3 portal with testnet tools, blockchain data sets, and developer learning resources, which has raised conflicting views among the crypto sector. Google Cloud has created a new Web3 page with tools for blockchain developers, such as data sets and lessons on how to create non-fungible tokens. However, the bitcoin sector has had a split response.

“No native Bitcoin or Lightning support? “It seems like an oversight to ignore the most important cryptocurrency”, said Phil Geiger, Unchained’s vice president of product marketing, in an X post on April 25. “Not impressed Google is way behind,” pseudonymous crypto trader MartyParty wrote to his 80,700 X followers on April 26.

Meanwhile, others were more enthusiastic about the unveiling. Mitroplus labs founder Ivaibi Festo hailed the Web3 portal as a “comprehensive resource” in an April 25 X post. According to its website, developers can use a variety of tools and testnet tokens to deploy and test decentralized apps on the Ethereum testnets Sepolia and Holesky. It also includes a study programme with instructions on how to create an NFT, build Web3 loyalty programmes, and protect digital assets using multi-party computation.

This follows numerous recent advancements by Google in the Web3 business. Google recently updated its functionality to allow users to search for wallet balances on different blockchains, including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom.

Google changed its policy in early 2024 to allow certain cryptocurrency products, including as Bitcoin exchange-traded funds, to be advertised on major search engines. In 2023, Google looked to be focusing on building relationships ahead of the portal’s launch this year.

In October 2023, Google Cloud’s BigQuery data warehouse was integrated with MultiversX, allowing Web3 projects and users to benefit from powerful data analytics and artificial intelligence technologies within the Google Cloud ecosystem.

Just a month ago, in September 2023, Google’s BigQuery added 11 blockchain networks to its data warehouse. The new networks included Avalanche, Arbitrum, Cronos, Ethereum’s Görli testnet, Fantom, Near, Optimism, Polkadot, Polygon’s mainnet, Polygon’s Mumbai testnet, and Tron.

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