- Google (NASDAQ:GOOGL) Cloud announced that the platform has decided to establish itself as a Solana validator.
- Following the announcement, SOL had a hike by 15% with its current price of nearly $40.
- Google’s collaboration with Solana is to make the blockchain available to everyone with ease.
Solana’s native token SOL had a sudden surge by almost 15%, with a current price of nearly $40, following Google Cloud’s announcement that it has decided to launch a block-producing Solana validator and thus establish itself as a Solana validator.
The cloud computing platform tweeted on November 5, that the platform is launching a block-producing Solana validator:
Now that we got your attention… check this out: Google Cloud is running a block-producing @solana validator to participate in and validate the network.— Google Cloud (@googlecloud) November 5, 2022
Following the announcement, Solana showed a massive hike in its price when compared to the previous days’ prices. While analyzing the growth of the coin in the last 24 hours, it could be noted that the price had risen by 2%, with a market cap of $12,883,722, 583 USD.
Seven Days’ SOL Price Source: CoinMarketCap
Previously, a few seconds before posting the already mentioned tweet, the platform had announced its collaboration with Solana to “bring Blockchain Node Engine to the Solana chain” by 2023, for making it easier for everyone to launch the Solana node in the cloud.
Since the Blockchain Node Engine is a “fully managed node hosting service”, which is already familiar among Ethereum users, the integration of Solana would make the network easily available and accessible to everyone.
The Google Web3 Product Manager Nalin Mittal stated that “we want to make it one-click to run a Solana node in a cost-effective way”.
Furthermore, Mittal added that Google is also updating its BigQuery data warehouse with the content of Solana data, making it easier for the Solana developer ecosystem to access its historical data.
Though Solana had its all-time high price 0f $260 the last November, it had continuous plummets resulting from the frequent consensus failures on nodes. Thus, Google’s collaboration with Solana gives investors hope that the price would further surge into its highs, which made Solana founder Anatoly Yakonevo describe Google’s initiative as “a pretty big lift”.
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