At the recent Consensus 2023 conference, Google Cloud and Polygon announced their collaboration to accelerate the development of Web3 products. This collaboration aims to help overcome some challenges developers face in the Web3 space, such as high transaction fees, slow transaction processing, and limited scalability.
A Partnership For Blockchain Development
Google Cloud recently announced that it has partnered with Polygon in a “multi-year strategic alliance.” The partnership will provide infrastructure and tools for designers working on Polygon’s zkEVM, PoS Chain, and Supernets scaling solutions.
As part of this collaboration, Google will offer its Blockchain Node Engine service for PoS Chain node designers on Polygon. Thus, they can utilize Google’s node hosting and management services. This means developers will not have to bother running or configuring their Polygon PoS nodes.
Instead, they can focus on scaling their applications. Following the announcement, the price of Polygon’s governance token MATIC surged following losses in the last few weeks.
Despite the bearish market trend, Google Cloud remains unfazed and established a specialized Web3 team in May 2022. The group has successfully formed partnerships with leading companies in the industry, such as Polygon, Coinbase, and Tezos.
According to reports, Polygon’s PoS Chain is ranked fifth-largest among smart contract chains, with a total value of $1 billion. Meanwhile, their newly introduced zkEVM has a security value of $5.5 million.
Also read:In October 2022, Google Cloud introduced the Blockchain Node Engine, which currently supports only Ethereum nodes. The launch of this platform coincided with Ethereum’s transition to Proof of Stake consensus, and it became operational a month later.
Google Cloud aims to expand its support to include Solana later in the year. Since October 2021, Polygon has collaborated with Google in various capacities, including access to its on-chain data in real-time via, BigQuery, its data analysis forum.
Earlier this week, Google Cloud announced an expansion to its accelerator program for Web3 startups. This move highlights the company’s dedication to the blockchain industry.
The program offers pre-seed startups with Google Cloud credits worth up to $2,000 for two years. Funded firms, on the other hand, can access Cloud and Firebase services worth $200K.
Moreover, Google and its 11 partners, including Aptos, Alchemy, Base, Celo, Hedera, Flow, Nansen, Polygon, Near, Thirdweb, and Solana, are providing over one million dollars in grants.
Arbitrum Launches Groundbreaking Layer 3 Solution
Meanwhile, Arbitrum, the market leader in Ethereum’s Layer 2 ecosystem, is already looking ahead to Layer 3, even though its potential has yet to be fully realized. Last month, the Arbitrum platform announced the launching of Arbitrum Orbit, a “permissionless solution” that enables designers to create a Layer 3 crypto platform via Arbitrum technology.
AltLayer, a Web3 infrastructure provider, has been selected by Arbitrum as the first roll-ups-as-a-service provider that supports Orbit. According to Anuja Khatri, head of growth at the Arbitrum Foundation, AltLayer’s addition is necessary to maximize creativity while minimizing the technical challenges in application development.
AltLayer has announced that by the third quarter of this year, its launchpad platform will enable individuals with minimal or no coding experience to create personalized Layer 3 solutions tethered to Arbitrum within 5 minutes.
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