Google Cloud’s participation in the EOS blockchain network community signals further interest in exploring the possibilities of the technology.
On Tuesday, Block.one, developer of the EOSIO blockchain protocol building the EOS network, said Google Cloud is “taking steps” to become the block producer of the EOS network (BP) – the governing body. EOS votes with backup block producers (SBP).
Launched in 2018, the EOS network is a decentralized public blockchain based on the open source EOSIO framework. The overall goal of the project is to improve the transaction-per-second rate, support both private and public blockchains, and support a wide variety of smart contracts.
According to software company Block.one, the participation of Google Cloud “marks an important milestone for the network” and “emphasizes the importance of blockchain for the future of business, government and society”.
As Google Cloud develops and manages cloud services and fiber-optic networks (not to mention one of the largest tech giants in the world), Google’s interest in the project makes the company “ very suitable ”for public blockchain networks.
The company disclosed that Google reached out to learn more about the EOS network a few months ago.
If accepted as a block producer, Google will have a say on the future aspects of blockchain’s security, scalability, and decentralization.
However, the Google Cloud must first be chosen by existing token holders on the EOS network. The criteria for acceptance are in a state of continuous development.
“Due to the speed of the EOS network, variable voting is calculated instantly, so they can be done very quickly if we choose. It really depends on Google Cloud and what their plan is in interacting with the EOS community. And because voting for EOS is open, continuous, and to ensure the top 21 always reflects the aggregate will of EOS holders in real time, we will continually evaluate Google Cloud against of ours, just as we do with all the other block production candidates ”.
Block.one “trusts” Google Cloud will be able to fulfill its voting criteria, which the company says is “meant to include, not to exclude”.
A developer advocate at Google Cloud Allen Day said:
“We are beginning the process of becoming a block producer candidate. As organizations begin to incorporate distributed ledger technology into their infrastructure, we are committed to ensuring that information on public blockchains is securely stored, trusted, and accessed in accordance with the way it makes sense ”.
Google Cloud had no other response at the time of writing.
Accompanying the news, the EOS price today rose prominently on the charts at 14.82%, currently trading at $ 2.9.