Google Cloud Launches Web3 Portal, Receives Mixed Reactions from Crypto Industry

Last week, Google Cloud launched a new portal with various resources for blockchain developers, including tutorials on how to create nonfungible tokens and data sets. The launch of the Web3 portal has been met with mixed reactions from the cryptocurrency industry however, with some expressing their disappointment about the new portal.

Unchained VP of product marketing, Phil Geiger, stated in a post made on X last week that the platform had no native lighting support of Bitcoin. He added that this seemed like an oversight that ignored the most important cryptocurrency. A crypto trader by the pseudonym MartyParty on X wrote that he wasn’t impressed with Google, adding that the search engine was way behind. This trader has more than 80,000 followers on X.

Some individuals were more receptive to the new Web3 portal, with the founder of Mitroplus labs, Ivaibi Festo, describing the portal as an all-inclusive resource.

Through the portal, developers can receive testnet tokens to test and deploy their decentralized applications on Holesky and Sepolia, which are testnets on Ethereum. The portal also offers access to different programs. In addition, the portal has a learning program with tutorials on how to use multiparty computation to secure digital assets, how to develop nonfungible tokens and how to implement Web3 loyalty programs.

This launch comes after a number of other developments were made by Google in the Web3 industry. For starters, the multinational tech company broadened its features to permit users to look up wallet balances across multiple blockchains, including Avalance, Bitcoin, Fantom, Polygon, Optimism and Arbitrum. Now, users can search three address formats under Bitcoin — Bech32, P2SH and P2PKH — as well as view recent transactions and current balances.

At the start of this year, the company also updated its policies to permit specific cryptocurrency products to be advertised on major search engines, including exchange-traded funds based on Bitcoin.

Last year, the company focused on the establishment of partnerships in preparation for the launch of the Web3 portal. In October, it integrated its BigQuery data warehouse, which is under Google, with MultiversX. This will assist Web3 projects while also allowing users to acquire valuable insights from artificial intelligence tools and powerful data analytics within the ecosystem of Google Cloud.

A month earlier, BigQuery under Google added 11 blockchain networks to its data warehouse. Those networks include Arbitrum, Avalance, Fantom, Cronos, Tron, Mumbai testnet by Polygon, Polygon’s mainnet, Polkadot, Optimism, Near and Ethereum’s Görli testnet.

As more major tech companies take steps to facilitate Web3 technologies on their platforms, the number of Web3 solutions that enterprises such as Horizon Fintex integrate could also see an uptick.

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