Source: Coin Edition
- Google Cloud recently made the decision to become a Solana validator, which was announced.
- After the news broke, SOL’s price increased by 15%, to nearly $40.
- The goal of Google and Solana’s partnership is to make blockchain technology accessible to the general public.
Google Cloud Collaborates With Solana
When Google Cloud announced that it would become a block producer and official Solana validator, the price of Solana’s native token, SOL, shot up by nearly 15%, to nearly $40 at the time of this writing.
On November 5th, the cloud computing platform announced via tweet that it would be launching a block-generating Solana validator.
Solana’s price shot up significantly after the announcement compared to its value on days prior. When looking at the change in price of the coin over the past 24 hours, a total of $12,883,722,583 USD has been added to its market cap, representing a rise of 2%.
Prior to posting the aforementioned tweet, the platform had announced its partnership with Solana to “bring Blockchain Node Engine to the Solana chain” by 2023, with the goal of simplifying the process of launching a Solana node in the cloud for everyone.
Incorporating Solana into the network would make it accessible to anyone, as the Blockchain Node Engine is a “fully managed node hosting service” that is already well-known to Ethereum users.
GOAL
The goal is to “make it one click to run a Solana node in a cost-effective way,” as Nalin Mittal, Google’s Web3 Product Manager, put it.
Mittal also mentioned that Google is integrating Solana data into its BigQuery data warehouse to make it more convenient for the Solana developer ecosystem to gain access to its historical data.
Even though the price of Solana hit a record high of $260 in November of last year, it has since experienced continuous drops due to frequent consensus failures on nodes. According to Solana’s founder Anatoly Yakonevo, “a pretty big lift” is the best way to describe Google’s partnership with the company because it gives investors confidence that the price will continue to rise to new heights.
Disclaimer: This isn’t financial advice; it’s just for education. Crypted Crypto can’t guarantee its accuracy. Every investment and trade carries some risk, so always do your own research. Invest only what you can afford to lose.
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