Google Cloud, a leader in cloud computing, offers tools and services for businesses and developers. It presents solutions, like data storage and processing, machine learning and artificial intelligence.
In a strategic move to strengthen its presence in Web3, Google Cloud has partnered with MultiversX. This alliance was announced during the xDay Conference. Beniamin Mincu, the CEO of MultiversX, and Daniel Rood, the Head of Web3 EMEA at Google Cloud, expressed their commitment to Web3 advancement.
Daniel Rood discussed the potential for Web3 developers to grow and scale more rapidly. He emphasized that the partnership will help them expand, strengthen their strategy, and establish themselves as key innovators in blockchain.
Empowering Data-Centric Blockchain Projects
One significant outcome of this partnership is the integration of MultiversX blockchain data into BigQuery. This will help open new possibilities for leveraging big data in Web3 projects. This collaboration started at the xDay Hackathon, offering up to $78k in credits to winning projects in the artificial intelligence track.
The core goal of this partnership is to empower data-centric blockchain projects by simplifying access to crucial data, like addresses, smart contract interactions, transaction volumes, and enhanced on-chain analytics capabilities. This simplification paves the way for executing large-scale data-focused blockchain initiatives.
Furthermore, builders can now harness Google Cloud’s tools to introduce high performance and scalability to their decentralized applications’ non-blockchain components.
Google Cloud becomes the foundational layer of the MultiversX infrastructure, simplifying technology stack and streamlining the deployment of blockchain projects.
MultiversX, formerly Elrond (EGD), unites various financial technology firms, decentralized finance projects, and the internet of things. This project is dedicated to delivering lightning-fast transactions through sharding.
MultiversX boasts the crypto world’s fastest and most cost-effective transactions. It cab handle 15,000 transactions per second at a fraction of a cent. The blockchain network has 3,200 validators and a record of over 303 million transactions.
It recently had a 3 day conference on blockchain, fintech, AI and metaverse, known as xDay, in Budapest, Romania. After the announcement of the partnership during this event, the value of MultiversX’s native token, EGLD, increased by about 10%.