Major cloud providers increasingly interest in blockchain networks.
Blockchain evolves from new technology to a valuable business tool that organizations seek to integrate into existing IT infrastructures. As more businesses investigate how blockchain can aid in digital transformation, prominent cloud service providers notice.
For example, Google Cloud recently became an EOS network block producer. Token holders elect block producers to add transactions to blocks, add blocks to the blockchain, and update software.
However, Allen Day, Google Cloud’s developer advocate, told Cointelegraph that Google likes open-source protocols and distributed ledger technology, or DLT. According to Day, the company believes Google Cloud can lessen the friction for enterprises to run their own Google Cloud-hosted nodes on the network. We’re also helping Block.one hosts their development efforts on our cloud infrastructure.
Earlier this year, Google Cloud joined the Hedera Hashgraph governing council, allowing it to run a Hedera network node. According to Day, it now joins Google Cloud Platform’s other public distributed ledger datasets. Google Cloud also hosts a Theta Network validator node.
Beyond Google Cloud’s DLT support, Amazon Web Services is a cloud service provider for China’s Blockchain-Based Service Network, a government-backed program to help SMBs build and operate blockchain apps. Microsoft also revealed plans to integrate the Lition blockchain into its Azure Cloud marketplace.
DLT and Cloud-enable Changes
DLTs, like blockchain, enable digital transformation, says Day. As a result, Google wants to raise awareness about how blockchain networks may benefit businesses. Google Cloud is beefing up its security by joining blockchain networks. The Google Cloud will use enhanced security mechanisms on EOS and stack security in layers to provide an in-depth defense.
Day further explained that they don’t assume service trust and employ numerous techniques to build and sustain it. Data stored on Google infrastructure automatically secures at rest, as are internet communications to their cloud services.
Kevin Rose, Block.one’s senior vice president of public blockchain engagement, told Cointelegraph that Google’s participation on EOS would allow both parties to push the digital economy.
Alistair Rennie, general manager of IBM Blockchain, said that blockchain gives the missing element of confidence that cloud technology alone cannot provide. Cloud providers are growing increasingly interested in blockchain to enable greater trust and smoother collaboration among various stakeholders.
Centralizing the Blockchain
Cloud service providers joining the blockchain revolution may cause concern for a decentralized ecosystem.
Despite this, it looks that Google, Amazon, and Microsoft are welcome into the blockchain realm. Blockdaemon creator and CEO Konstantin Richter told Cointelegraph that EOS previously got criticisms for its lack of diversity among block producers. Richter believes that adding Google Cloud into the EOS community will help the ecosystem gain traction.
Participation and decentralization are vital for a more efficient, fair, and open financial system because they provide accountability and data quality. They try for infrastructure decentralization, but they can’t replace a pure varied group of node owners.
To cite another example, PAC Global’s founder and CEO Drew Saunders told Cointelegraph that dependable blockchain contributions shall come from all parties. Saunders noted that Google Cloud is famous for its stability and that EOS already has a large, decentralized user base.
Concerns concerning one block producer or node validator not performing governance tasks should not cause a network collapse since the EOS network relies on 21 block producers elected by token holders. Also, keep in mind that Google Cloud still spends election. Rose indicated that EOS token holders might vote on Google Cloud swiftly if needed.
The EOS Network community is largely dependent on Google Cloud’s intentions for engagement. Because voting on EOS is open-ended and continuous, they will regularly evaluate Google Cloud against their criteria, just as they do with all Block Producer candidates.
