- Google Cloud has announced a new block-producing Solana validator to participate in the network’s validating process
- The platform has also launched Blockchain Node Engine, A web3 node hosting service on Solana.
- Google Cloud has also announced its partnership with Coinbase.
Sol prices are up 16% at press time as Google Cloud took to Twitter to announce a new block-producing solana validator. The platform has also launched Blockchain Node Engine, a service that helps” Web3 developers build and deploy new products on blockchain-based platforms.”
Solana x Google Cloud
Speculations are rife in the crypto market about whether the Solana blockchain is soon forming an alliance with Google Cloud.
A new tweet posted by Google Cloud has led the speculation bandwagon to run amok. Google Cloud took to Twitter to share a new tweet that may indicate a possible Solana-Google Cloud connection.
The tweet had garnered 5000 likes at press time and had also been retweeted by Solana’s co-founder Toly. Magic Eden, the Solana Beach-based NFT marketplace, has also responded to the tweet posted by Google Cloud.
No additional details have been shared about what the new Solana x Google Cloud collaboration is all about, however, crypto Twitter is speculating about a possible crypto NFT endeavour that might be helmed by both the concerned organizations.
However, Google Cloud has announced how the platform is “running a block-producing Solana validator to participate in and validate the network.”
In addition to this, Google Cloud tweeted that it is currently working with Solana to bring a blockchain node engine to the Solana chain next year for the users to enjoy a hassle-free node hosting system.
“While self-managed nodes are often difficult to deploy and require constant management, Blockchain Node Engine is a fully managed node-hosting service that can minimise the need for node operations.” Web3 companies that require dedicated nodes can relay transactions, deploy smart contracts, and read or write blockchain data with the reliability, performance, and security they expect from Google Cloud computer and network infrastructure. The announcement later adds
Per the announcement, Ethereum will be the first blockchain that will be supported by the blockchain node system launched by Google Cloud.
Furthermore, Google Cloud will also help in indexing Solana’s data to make it easier for the developers to access past data records.
Google Cloud Will Now Accept Payments In Cryptocurrency
With an array of new announcements, the platform also declared that it will soon be accepting crypto payments via Coinbase Commerce.
“Today, Google Cloud and Coinbase announced a new, long-term strategic partnership to better serve the growing Web3 ecosystem and its developers.The collaboration will involve Coinbase selecting Google Cloud as a strategic cloud provider to build advanced exchange and data services.” Coinbase will use Google Cloud’s powerful compute platform to process blockchain data at scale and enhance the global reach of its crypto services by leveraging Google’s premium fiber-optic network. Coinbase will also build its global data platform on Google Cloud’s secure infrastructure and leverage their leading data and analytics technologies to provide Coinbase customers with machine learning-driven crypto insights. The announcement later shared.
Under the said partnership, Google Cloud will permit select users to buy cloud storage on the platform by making payments in cryptocurrencies.
“Powered by Coinbase Commerce—which enables merchants globally to accept cryptocurrency payments in a decentralized way—the new payments experience will benefit Google Cloud’s customers and partners by increasing the optionality of payments for Google Cloud services.”
The price of SOL has responded positively to the news of Google Cloud launching a node hosting service on Solana. At the time of writing, SOL is trading at $38.48 up 16% in the last 24 hours.
Amazon Taps The Russo Brothers For TV Series About The FTX Saga
- Amazon is set to release an eight-part series based on the collapse of FTX.
- The streaming giant has teamed up with the Russo brothers and David Weil for the production of this series.
- The Russo brothers have described the FTX scandal as one of the most brazen frauds ever committed.
- Apple is also working on a movie based on Sam Bankman-Fried’s activities in the run-up to FTX’s implosion.
Streaming giant Amazon has partnered up with famed directors Anthony Russo and Joseph Russo, also known as the Russo brothers, to release an eight-part TV series based on the spectacular collapse of Bahamas-based crypto exchange FTX.
Amazon will begin production in spring 2023
According to a report by Variety, the streaming firm has teamed up with AGBO, the production company of the Russo brothers who are known for their involvement with several Marvel movies. David Weil is set to be the executive producer of the show, in addition to writing the pilot. The show will go into production in spring 2023 and will be based on “insider reporting” by journalists who covered the downfall of what was once the world’s second-largest crypto exchange.
This is one of the most brazen frauds ever committed; It crosses many sectors – celebrity, politics, academia, tech, criminality, sex, drugs, and the future of modern finance. At the center of it all sits an extremely mysterious figure with complex and potentially dangerous motivations. We want to understand why.” the Russo brothers said.
Amazon is reportedly trying to get the famed duo to direct the series as well.
Apple is nearing a deal for book rights on SBF & FTX
Fellow streaming firm Apple is also looking to get a piece of the FTX pie. According to a report by Deadline, Apple is about to close a deal for the book rights to Michael Lewis’ story about the fall of Sam Bankman-Fried and his crypto empire.
Michael Lewis is known for several books that were adapted into popular movies like Moneyball and The Big Short. Lewis had been following Bankman-Fried for six months before his exchange imploded, taking down several companies with it. The deal is reportedly in the mid-seven figures range and is expected to be adapted into a feature film.
Ethereum coders reached consensus on Shanghai update
- Ethereum developers had their weekly call to discuss what features should roll out in the next hard fork.
- Marius Van Der Wijden said coders were already working toward staked Ether withdrawals prior to the call.
- Developers will proceed with around eight Ethereum Improvement Proposals for Shanghai, the next technological upgrade.
- The timeline for the upgrade was unclear at press time.
Developers at the Ethereum foundation talked on Thursday and decided on eight proposals to explore for Shanghai, the next upgrade after moving to proof-of-stake. The Shanghai hard fork included unlocking staked Ether (ETH) and allowing stakers to withdraw their assets.
As reported, a multiclient devnet was released on Wednesday to trial staked validator ETH withdrawals. Developers already agreed to push forward with building staked ETH withdrawals before Thursday’s meeting, tweets from Marius Van Der Wijden hinted on Wednesday.
EIP 4844 was among the eight Ethereum Improvement Proposals (EIP) agreed on. The EIP centers around better scaling by leveraging proto-danksharding technology. Ideally, this tech will boost network throughput and slash transaction fees. Proto-danksharding sections a blockchain into “shards” to achieve this.
When Shanghai on Ethereum?
Indeed, developers reached consensus on eight EIPs to build for the Shanghai hard fork. Not all eight EIPs might ship with the final upgrade expected in the second half of 2023. Also, ETH coders did not finalize a timeline for staked Ether withdrawals.
U.S Lawmakers Want DOJ To Launch An Investigation Into FTX
- Senator Elizabeth Warren and Senator Sheldon Whitehouse have written to the U.S. Attorney General urging him to launch an investigation into FTX’s downfall.
- The lawmakers want the investigation to be conducted with utmost scrutiny.
- The letter accuses the bankrupt exchange of misleading investors by portraying a false sense of security.
- The exchange’s celebrity endorsers are already facing an investigation by the Texas State Securities Board
Bahamas-based crypto exchange FTX may soon be under investigation by the United States Department of Justice. Members of the U.S senate have demanded that the Justice Department look into the gross misconduct that took place at what was once the world’s second-largest crypto exchange.
FTX to be investigated with utmost scrutiny
Elizabeth Warren, the senator from Massachusetts, and Sheldon Whitehouse, the senator from Rhode Island, have penned a letter to U.S Attorney General Merrick Garland and Assistant Attorney General Kenneth Polite, Jr. The letter urges the DOJ officials to investigate the business activities of FTX with “utmost scrutiny”.
We write to express deep concern over the disturbing allegations of fraud and illicit behavior that led to the collapse of cryptocurrency firm FTX Trading Ltd and to urge the Department of Justice to hold the company’s executives accountable to the fullest extent of the law.” the letter reads.
The lawmakers have outlined how the downfall of FTX sparked a crypto contagion that left several firms struggling in its wake. These include Genesis Global Trading and Galois Capital, which have $175 million and $100 million stuck on the bankrupt exchange respectively.
The letter has outlined the attempts made by Sam Bankman-Fried’s companies to portray a sense of safety and legitimacy using celebrity endorsements and expensive advertising campaigns and effectively deceive the investors. Additionally, the lawmakers also talk about the misleading tweets made by SBF in the run-up to the exchange’s bankruptcy.
According to a report published by Bloomberg, the Texas State Securities Board is looking into the celebrity endorsement campaigns funded by FTX. These include the endorsements by Tampa Bay Buccaneers quarterback Tom Brady and Steph Curry of the Golden State Warriors.
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