Google Cloud has confirmed that its in-house blockchain undertaking, referred to as the Google Cloud Common Ledger (GCUL), is a Layer-1 blockchain designed to assist digital funds and asset tokenization.
Wealthy Widmann, Google Cloud’s head of Web3 technique, described GCUL in a submit on LinkedIn as the results of long-term inside analysis.
He emphasised that the blockchain will permit builders to put in writing good contracts utilizing Python, which differs from frequent crypto chains that usually use Solidity or Rust. This makes it extra accessible to engineers already accustomed to enterprise programming instruments.
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Widmann defined that GCUL is an infrastructure layer that can be utilized by monetary establishments searching for a impartial platform.
The announcement comes after CME Group completed the primary part of its integration and testing of the Common Ledger. On the time, it was unclear whether or not this technique would function as a public blockchain or what its function could be.
In line with Widmann, extra technical details about GCUL can be shared within the close to future. That might embrace how the community processes transactions, maintains consensus, and helps purposes at scale.
Moreover, he argued that firms like Tether
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or Adyen may be reluctant to depend on networks constructed by opponents.
Circle, the corporate behind USDC
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, just lately introduced plans to roll out its personal blockchain referred to as Arc earlier than the top of 2025. What does it do? Learn the total story.
