Google Cloud and Tezos Partner Up, XTZ Jumps 14%
- Google Cloud has officially announced a partnership with the Tezos (XTZ) blockchain, and the XTZ token surged 14% after the announcement.
- The partnership will see the Cloud-focused platform become a Tezos network validator (or “baker”).
- The customers of the cloud platform will also have access to the Tezo corporate baking program.
- The customers who are interested in building Web3 applications will be provided with easy deployment of nodes and indexers on the Tezos protocol.
One of the largest tech companies in the world, Google, continues to increase investment into blockchain technology despite the drop in the popularity of the assets based on this technology and the collapse of many blockchain companies. Interestingly, the company’s suite of cloud computing services, Google Cloud, has officially announced partnership with Tezos (XTZ) blockchain, and following the announcement, the native token of the blockchain, XTZ, went up 14%.
According to a press release, the organization responsible for the development and maintenance of the Tezos blockchain, the Tezos Foundation, has partnered with Google Cloud to “accelerate Web3 application development on the blockchain.” It is also crucial to note that the Tezos blockchain follows a similar structure to Ethereum and focuses on smart contracts as well. Additionally, the partnership will officially see the Cloud-focused platform become a Tezos network validator (or “baker”).
“At Google Cloud, we’re providing secure and reliable infrastructure for Web3 founders and developers to innovate and scale their applications,” James Tromans, Engineering Director, Web3 at Google Cloud, said while adding, “We look forward to bringing the dependability and scalability of Google Cloud to power Web3 applications on Tezos.”
Additionally, Tezos will also allow the new and existing Google Cloud customers to access its corporate baking program. This would allow the customers to produce and validate new blocks for the blockchain network. The customers who are interested in building Web3 applications will be provided with easy deployment of nodes along with indexers on the Tezos protocol.
“Through this collaboration, companies and developers can easily host and deploy RPC nodes for Web3 applications, leveraging both the strength of the Tezos blockchain and the scale and resilience of Google Cloud infrastructure,” noted the press release.
Interestingly, as a result of the partnership, select Tezos incubator startups will be eligible to receive Google Cloud credits and mentorship via the Google for Startups Cloud Program, “providing even more resources to the next generation of innovators in Web3.” Furthermore, the collaboration will also focus on the generation of environmentally sustainable computing environments.
“To achieve institutional adoption and mass-market opportunities, technology that’s reliable, scalable, and secure is essential. We see exciting synergies in working with Google Cloud, and look forward to accelerating development and innovation on the Tezos blockchain together,” said Mason Edwards, chief commercial officer, Tezos Foundation.
Additionally, according to the data from PricePredictions, the price of the XTZ token rose 14% in the last 24 hours and at the time of writing, 1 XTZ amounts to $1.46. This can be tied to the announcement of the partnership.
It is also a fact that Google Cloud has made several crypto partnerships in 2022 including the one with Coinbase crypto exchange to accept payments in cryptocurrencies such as Bitcoin, Dogecoin, and Ethereum in 2023. As reported earlier by Bitnation, the cloud platform also partnered with Solana blockchain to add support for the blockchain in BigQuery, a fully-managed, serverless data warehouse.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
