Google Confirms GCUL Is a Layer-1 Community

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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 put up on LinkedIn as the results of long-term inside analysis.

He emphasised that the blockchain will enable 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 conversant in 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 response to Widmann, extra technical details about GCUL might be shared within the close to future. That would embody how the community processes transactions, maintains consensus, and helps functions at scale.

Moreover, he argued that firms like Tether USDT $0.9956 or Adyen is perhaps reluctant to depend on networks constructed by opponents.

Circle, the corporate behind USDC USDC $0.9960 , 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 total story.