Google Cloud Partners With Polygon; What This Means for Filecoin and TMS Network
The post Google Cloud Partners With Polygon; What This Means for Filecoin and TMS Network appeared first on Coinpedia Fintech News
For all the whoop and holler of the Metaverse’s supposed death, tech giants are doubling down on their investments in the Metaverse. Google is advertising its recent foray into the crypto world. Its latest move is to partner with Polygon (MATIC) to provide the resources developers need to create Web3 projects based on Ethereum and Polygon (MATIC). This partnership will have big implications for other crypto projects in the industry, like Filecoin (FIL) and TMS Network (TMSN).
TMS Network (TMSN)
TMS Network (TMSN) is a new decentralized exchange that supports multiple-asset trading. It supports equity, forex, CFDs, and cryptocurrencies on its platform. Interestingly, TMS Network (TMSN) is a layer 2 blockchain built on Ethereum. So, TMS Network (TMSN) is compatible with dApps built for EVMs. This means that Polygon (MATIC)-Google Cloud partnership will help developers to create dApps and deploy them for TMS Network (TMSN) too. In other words, TMS Network (TMSN) benefits from this partnership. In fact, all the crypto projects that are compatible with EVMs stand to benefit from this partnership.
In the aftermath of the news of this partnership, TMS Network (TMSN) posted a strong 31% growth. As a smart contracts platform, TMS Network (TMSN) supports dApps. So, any support or EVM-compatible dApps development is a welcome development for TMS Network (TMSN). Presently, TMS Network (TMSN) is selling at $0.104 in its stage 4 presale event.
Polygon (MATIC)
By partnering with Polygon (MATIC), Google Cloud is offering enterprise-ready Web3 infrastructure and developer-friendly tools that allow them to create and deploy dApps at an accelerated pace. Google Cloud now supports all of Polygon’s (MATIC) protocols, including Polygon PoS, Polygon Supernets, and Polygon zkEVM. Google Cloud offers $200,000 worth of credits to Polygon (MATIC) developers. This will allow them to deploy dApps swiftly and offer their services to DeFi users.
As an Ethereum scaling solution, Polygon (MATIC) is already one of the top choices for many developers looking to deploy dApps on Ethereum, but are discouraged by its high fees and slow transaction speeds. Partnership with Google would help Polygon (MATIC) become the de facto choice for dApps developers on Ethereum.
Filecoin (FIL)
Filecoin (FIL) is founded on the principles of decentralization and privacy. Filecoin (FIL) and Polygon (MATIC) operate in two different spaces. Filecoin (FIL) offers decentralized storage space for users, while Polygon (MATIC) offers dApps infrastructure for enterprises and developers. However, Filecoin (FIL) happens to be a cloud storage solution, and Google Cloud also happens to have a cloud storage service in its service umbrella. Therefore, the Polygon (MATIC)-Google Cloud partnership can threaten Filecoin’s (FIL) core premise for existence.
Although decentralization continues to be a core feature of Filecoin (FIL), Google Cloud is certainly a more dependable solution for businesses that value stability over all else. So, it remains to be seen whether the privacy, open-source architecture, decentralization, and transparent services of Filecoin (FIL) will triumph over Google Cloud’s offering to the crypto community.
Filed under: Bitcoin - @ June 1, 2023 7:24 am