NAIROBI (CoinChapter.com) — Google Cloud’s recent unveiling of a comprehensive Web3 portal has shocked the cryptocurrency world and ignited a polarized debate among industry players.
The Web3 portal, touted as a one-stop shop for developers, offers a range of tools, including testnet environments, blockchain datasets, and learning resources. However, the lack of native Bitcoin and Lightning Network support has drawn criticism from some quarters, labeling it an oversight for a platform that claims to cater to the Web3 ecosystem.
Crypto Community Voices Diverse Opinions
Phil Geiger, Vice President of Product Marketing at Unchained, took to X to express his concern, stating, “No native Bitcoin and Lightning support? It seems like an oversight to ignore the most important cryptocurrency.” His sentiment was echoed by pseudonymous crypto trader MartyParty, who called Google “way behind” in its Web3 endeavors.
Conversely, Mitroplus Labs founder Ivaibi Festo praised the portal as a comprehensive resource. Google’s move marks the latest in a series of Web3-focused developments by the tech giant, including expanded search features for wallet balances and updated policies for crypto advertising.
Google’s Growing Web3 Presence
Google Cloud’s Web3 portal marks a significant step in the company’s expanding blockchain endeavors. The portal grants developers access to Ethereum testnets, along with tools and tutorials for building decentralized applications. It also provides insights into blockchain data via Google Cloud’s BigQuery.
This latest move follows a series of Web3-related developments by Google. In early 2024, Google began allowing select crypto products to be advertised.
In 2023, Google adjusted its policies to greenlight select crypto advertisements and forged strategic Web3 partnerships. The integration of Google Cloud’s BigQuery with MultiversX and the addition of numerous blockchain networks to the data warehouse signal the company’s growing focus on this sector.
Despite the debate surrounding Google’s portal, the crypto market continues to show strength. The global cryptocurrency market cap stands at $2.5 trillion, marking a 2.6% increase in the past 24 hours. Bitcoin currently trades at $63,751.94, while Ethereum holds a price of $3,314.30.pen_spark
