Google Cloud bets on EOS blockchain, venturing additional into crypto

Blockchain is present process a vital turning level, shifting from an rising expertise right into a useful business tool that enterprises need to incorporate into present IT stacks. As extra firms proceed to discover how blockchain might help obtain digital transformation, main cloud service suppliers are exhibiting elevated curiosity. 

For instance, Google Cloud just lately grew to become a community block producer by joining the EOS blockchain community. Block producers on EOS are elected by token holders so as to add transactions to blocks, add blocks to the blockchain, and implement software program adjustments.

Whereas Google Cloud should nonetheless be elected to develop into one of many 21 energetic EOS block producers, Allen Day, developer advocate at Google Cloud, informed Cointelegraph that Google is broadly fascinated by open-source protocols and distributed ledger expertise, or DLT:

“We’re seeing energetic enterprise participation in these types of networks, and imagine Google Cloud can cut back the friction for firms to run their very own Google Cloud-hosted nodes on the community. We’re additionally offering cloud infrastructure to as effectively, serving to them host their very own improvement efforts.”

Earlier this 12 months, Google Cloud additionally joined Hedera Hashgraph’s governing council, enabling Google Cloud to function a Hedera community node. In accordance with Day, Hedera ledger information is now obtainable for analytics alongside Google Cloud Platform’s different public distributed ledger datasets. Google Cloud additionally runs a validator node for the Theta Community, a decentralized video platform.

Along with Google Cloud’s help for DLT, Amazon Net Companies is listed as a cloud service provider for China’s Blockchain-Based mostly Service Community — a government-backed initiative designed to assist small- to medium-sized companies construct and deploy blockchain purposes. It’s additionally notable that Microsoft introduced it might be integrating the Lition blockchain into its Azure Cloud marketplace.

DLT and cloud expertise allow digital transformation

In accordance with Day, DLTs, like blockchain, are enabling digital transformation. As such, Google needs to extend consciousness of how firms can profit by actively collaborating on blockchain networks. Particularly, Google Cloud is ramping up its personal safety measures by collaborating on blockchain networks. Day defined that Google Cloud will leverage superior safety measures on EOS and is constructing safety by way of progressive layers to ship in-depth protection:

“We don’t assume any belief between companies, and use a number of mechanisms to ascertain and preserve belief. Information saved on our Google infrastructure is robotically encrypted at relaxation, and communications over the web to our cloud companies are encrypted.”

Kevin Rose, senior vice chairman of public blockchain engagement at — the corporate behind EOS — informed Cointelegraph that Google’s participation on EOS will allow new enterprise fashions for each events to drive the digital economic system.

Alistair Rennie, normal supervisor of IBM Blockchain, informed Cointelegraph that blockchain and cloud applied sciences work fairly effectively collectively, “Blockchain delivers the lacking component of belief that cloud expertise alone can’t present,” he mentioned. “Cloud suppliers are rising more and more fascinated by blockchain as a way to enabling better belief and seamless collaboration amongst disparate stakeholders.”

Will main companies carry centralization to blockchain?

As main cloud service suppliers be a part of the blockchain revolution, neighborhood members could query the influence this might have on a decentralized ecosystem.

Regardless of this, because the blockchain house continues to mature, it seems that huge gamers like Google, Amazon and Microsoft are certainly being welcomed in. Konstantin Richter, founder and CEO of Blockdaemon — a multi-chain cloud community administration instrument — informed Cointelegraph that EOS has beforehand faced scrutiny over the lack of diversity among its block producers. Nonetheless, Richter defined that bringing Google Cloud into the EOS neighborhood ought to definitely assist the ecosystem generate extra traction:

“It’s necessary to allow participation and permit for levels of decentralization to create a extra environment friendly, honest and open monetary system since it’s a onerous requirement for accountability and validity of information. We attempt to permit decentralization on an infrastructure degree, however we’re no substitute for a pure numerous set of node homeowners.”

Echoing Richter, Drew Saunders, founder and CEO of PAC World — a decentralized storage platform — informed Cointelegraph that dependable blockchain contribution is required whatever the people or firms concerned. Saunders commented that Google Cloud is reputably recognized for reliability and that EOS already has a broad, decentralized consumer base supporting the community.

However for the reason that EOS community depends on 21 block producers that have to be voted in by token holders, plainly issues over one block producer or node validator failing to hold out governance duties mustn’t lead to a community failure. Moreover, it’s necessary to understand that Google Cloud has but to be elected in. Rose talked about that Google Cloud could possibly be voted in shortly if EOS token holders really feel it’s crucial:

“It’s actually as much as Google Cloud and what their plans are for partaking with the EOS Community neighborhood. And since voting on EOS is open-ended and steady, to make sure that the highest 21 are at all times a real-time reflection of the mixture will of the EOS token-holders, we might be continuously evaluating Google Cloud in opposition to our standards, simply as we do with all Block Producer candidates.”

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