Google Cloud joins this Diffi platform as a node operator

Google Cloud on Tuesday stepped up its blockchain involvement by participating as a node operator on the EigenLayer mainnet.

This marks a pivotal moment in the tech giant's Web3 journey.

EigenLayer receives requests from Google Cloud when it starts on the mainnet

According to Sam Padilla, Web3 product manager at Google Cloud, this development demonstrates the tech behemoth's commitment to the evolving protocol ecosystem. Additionally, Google Cloud has participated in the EigenLayer testnet since November 2023.

EigenLayer's innovation allows Ethereum (ETH) to be held across multiple platforms, a capability that went live to stakeholders in June. Now, as a minenet node operator, Google Cloud has moved from participating in EigenLayer's “Operator Working Group” to playing a critical role in the operation of the network.

Google Cloud has been active since launching its blockchain division in early 2022. It launched the blockchain node engine, launched the Web3 startup program, and formed alliances with key protocols such as Polygon and LayerZero. Therefore, its move to EigenLayer represents a strategic expansion of its Web3 footprint.

Read more: What is EigenLayer?

In concerns about the decentralization of large cloud services, EigenLayer maintains the balance by allowing different participations in the operator registry. Therefore, the participation of Google Cloud emphasizes the strength and inclusiveness of the protocol.

In addition, recent mainnet activation introduced EigenDA, a novel data availability solution. Although the launch of the EigenLayer mainnet includes some limitations such as not including slicing, it marks a major step towards full protocol maturity.

“We are allowing the EigenLayer marketplace to develop and stabilize before introducing protocol fees and scaling back to the mainnet later this year,” EigenLayer explained.

The initiative accelerated the growth of EigenLayer, which surpassed $13.33 billion in total value locked (TVL), making it the second largest DeFi protocol. Liquidity recovery tokens (LRTs) are revolutionizing the narrative definition, with EtherFi at the forefront, with a TVL of over $3.82 billion.

Significantly, venture capital interest in such new blockchain innovations is increasing. For example, Andreessen Horowitz invested $100 million in EigenLayer in February, highlighting the sector's potential. Additionally, Binance Labs' investment in Renzo highlights the importance of the liquidity recovery domain.

Read more: Ethereum Repository: What is it and how does it work?

Renzo Protocol serves as EigenLayer's restaking hub, integrating Ethereum smart contracts to streamline the restaking process. It is the second largest Liquid Replenishment protocol with a TVL of nearly $3 billion.