Google Cloud has confirmed that its in-house blockchain undertaking, known 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 inner analysis.
He emphasised that the blockchain will permit builders to jot down sensible contracts utilizing Python, which differs from widespread 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 in search of 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 can be.
In line with Widmann, extra technical details about GCUL will likely be shared within the close to future. That would embody 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 is perhaps reluctant to depend on networks constructed by opponents.
Circle, the corporate behind USDC
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, not too long ago introduced plans to roll out its personal blockchain known as Arc earlier than the tip of 2025. What does it do? Learn the complete story.
