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- Google launched Blockchain Node Engine to support web3 companies.
- Web3 is perceived by experts as the next iteration of the internet.
- Tim Berners Lee founded Web1 in 1989, the initial model of the internet.
Web3 Companies to Use Google Cloud Now
Web3 is increasingly becoming a fruitful space for the organizations internationally. The next iteration of the internet has attracted the internet’s throne bearer themselves to assist web3 companies with their new initiative. They have announced the Blockchain Node Engine (BNE) for Google Cloud. It will help the companies to deploy smart contracts, read or write the blockchain data directly on Google Cloud, and more.
Google is creating a network of nodes which will allow the users and trusted machines to interact easily. BNE will support Ethereum blockchain initially upon the launch. ETH is the most admired blockchain as it brings various use cases for elements like non-fungible tokens (NFTs), play-to-earn gaming, DeFi and more.
Currently, several projects are rapidly involved in web3 development. For example, The Graph is an open source indexing protocol to organize blockchain data. FLOW, a web3 focused ecosystem, is a decentralized blockchain allowing users to build web3 applications. Companies like OpenSea have already established themselves as one of the most profitable organizations in the web3 space.
The biggest NFT platform generated $261 Million in daily trading volume on January 9, 2022, and had a total volume of $31.92 Billion and 2,347,331 traders on the ecosystem at the time of writing. NFTs will become an important element in the web3 space considering its potential to monetize every aspect in the sector.
With industry titans like Google making moves into the web3 space, it sends a strong message to the web3 critics that web3 is for real folks. When we think about the internet, Google remains the very first term that echoes on the edges of our brains. The company has not just established themselves as the biggest player on the internet, but has become a standard in itself.
A Brief History of Web3
Tim Berners Lee invented the world wide web (WWW) in 1989. The initial model of the internet was a read-only ecosystem where the users were able to grasp the information with a little to no interaction with the data. The era lasted for 14 years, after which the social media companies took over the web.
Beginning of the 21st century saw the rise of organizations like Facebook, Twitter, and more. The era transformed the web1 to web2, an interactive internet where users were able to communicate with the web elements. Vitalik Buterin coined the term Web3 after releasing the Ethereum blockchain. The next iteration of the internet will contain all the components of web1 and web2, adding the monetization aspect in its ecosystem.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.
