Google Cloud Teams Up with Orderly Network to Develop User-Centric Developer Tools for DeFi
Google Cloud has partnered with Web3 startup Orderly Network to create developer tools that focus on decentralized finance (DeFi) and aim to make it more accessible. The collaboration will address challenges related to self-custody and transparency in the DeFi infrastructure.
Lowering the Barrier of Entry into the Decentralized World
The goal of this partnership is to develop off-chain components of DeFi infrastructure that will enhance user-centricity and security. Orderly Network will become a DeFi infrastructure provider on Google Cloud Marketplace.
“Working with Orderly Network to build robust infrastructure will help address the gaps in DeFi adoption and growth, and ensure scalability in the continuously evolving space through the development of secure and user-centric enterprise developer tools.”
Financial Industry’s Interest in Decentralized Technologies
The financial industry has been exploring decentralized technologies, including DeFi solutions. JP Morgan, for example, has actively tested blockchain-based solutions. A report from 2021 revealed that 55% of the top-100 banks have some exposure to decentralized tech.
Distributing Load Between On-Chain and Off-Chain Components
Orderly Network aims to distribute the load of DeFi operations between on-chain and off-chain components. This approach ensures a balance between speed and decentralization without compromising the advantages of a decentralized system. The off-chain components handle interactions efficiently away from the main blockchain, while crucial interactions are carried out on-chain.
“Our collaboration with Google ensures our matching engine competes with centralized systems seen in traditional finance, but the rest of our infrastructure and liquidity network retains all the benefits of self-custody and transparency seen in decentralized finance.”
Addressing Entry Barrier and Security Challenges
The collaboration between Google Cloud and Orderly Network aims to tackle the entry barrier and security issues that have hindered DeFi adoption. By leveraging Google Cloud’s expertise and infrastructure, the partnership aims to create a secure environment and tools to resolve these challenges.
Hot Take: Google Cloud and Orderly Network Join Forces to Enhance DeFi Accessibility
The collaboration between Google Cloud and Orderly Network represents a significant step towards making decentralized finance more accessible. By developing user-centric developer tools and addressing challenges related to self-custody and transparency, this partnership aims to lower the barrier of entry into the decentralized world. With the support of Google Cloud’s infrastructure, the project has the potential to bring more innovation and security to the DeFi ecosystem, paving the way for wider adoption in the financial industry.
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