Google Cloud has confirmed that its in-house blockchain venture, referred to as the Google Cloud Common Ledger (GCUL), is a Layer-1 blockchain designed to help digital funds and asset tokenization.
Wealthy Widmann, Google Cloud’s head of Web3 technique, described GCUL in a publish on LinkedIn as the results of long-term inside analysis.
He emphasised that the blockchain will enable builders to jot down sensible contracts utilizing Python, which differs from frequent crypto chains that sometimes 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 method would function as a public blockchain or what its function could be.
In response to Widmann, extra technical details about GCUL shall be shared within the close to future. That would embrace how the community processes transactions, maintains consensus, and helps functions at scale.
Moreover, he argued that corporations 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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, lately introduced plans to roll out its personal blockchain referred to as Arc earlier than the tip of 2025. What does it do? Learn the complete story.
