Google Cloud Platform (GCP) announces partnership with smart contract platform Cypherium.

Google has announced a partnership with the blockchain startup company, where its Google Cloud Platform will collaborate with Cypherium and utilize its product, Cypherium Enterprise.

Cypherium describes this product as an enterprise-centric blockchain platform, focusing on scalability and decentralization. This collaboration will open the door to blockchain solutions for Google Cloud users.

Cypherium claims to be an enterprise-grade blockchain solution with high scalability and a hybrid consensus mechanism that combines Proof of Work (PoW) and HotStuff. It is said to achieve thousands of transactions per second without sacrificing decentralization.

Sky Guo, Co-founder and CEO of Cypherium, stated:

We are excited to collaborate with Google Cloud. The increasing demand for DLT solutions in the financial industry has driven this partnership. Google users can rest assured that the blockchain solutions implemented by Cypherium Enterprise offer robust security, enabling fast transactions for smart contracts and high-speed data processing through the Java Virtual Machine.

Google's Move Towards Blockchain

Regarding enterprise adoption of blockchain, some large companies continue to develop blockchain technology, including Microsoft, IBM, Amazon, and even smaller companies like HP and Lenovo. However, Google seemed to lag behind in the blockchain trend previously, but the situation is slowly changing this year.

A report pointed out that in May this year, the blockchain platform Qtum announced a partnership with Google Cloud Services to launch a set of blockchain development tools, aiming to provide developers and non-technical users with a simple and efficient way to set up nodes and build Qtum blockchains.

In June this year, Google announced a partnership with Chainlink to integrate data outside the blockchain. Google users can now use Chainlink with enterprise cloud data warehousing service BigQuery for interaction, leading to a 70% increase in Chainlink's value.

Cypherium CEO Sky Guo believes:

The future of business and blockchain are closely intertwined. We are ready to leverage Google Cloud's vast resources and top-notch infrastructure to accelerate the application of blockchain to address real-world challenges faced by enterprises today.

Related Reading

• The multinational insurance group Allianz is developing its own token ecosystem.
• IDC predicts that blockchain solution spending will reach $16 billion by 2023.

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