Crypto News– Web3 Startup and Google Cloud have united their efforts to craft user-friendly developer tools aimed at simplifying entry into the decentralized finance (DeFi) realm.
Web3 Startup and Google Cloud Work Together to Make DeFi Accessible
Orderly Network, a DeFi infrastructure provider, has collaborated with Google Cloud to develop off-chain components designed to address the challenges of self-custody and transparency within DeFi infrastructure. Orderly Network will serve as a DeFi infrastructure provider accessible through the Google Cloud Marketplace.
The motivation behind this partnership stems from a growing interest among clients in exploring blockchain workloads on Google Cloud. Rishi Ramchandani, Head of APAC Web3 GTM at Google Cloud Asia Pacific, emphasized the increasing demand for a specialized suite of Web3 products. Given that blockchain technology sits at the heart of the fintech revolution, various players in the financial industry, including JP Morgan, have been actively experimenting with blockchain-based solutions, including those within the DeFi space. Traditional banks also exhibited early interest in blockchain tech, with a 2021 report indicating that 55% of the top 100 banks had some exposure to decentralized technology.
Orderly Network’s goal is to distribute the DeFi workload across both on-chain and off-chain components to strike a balance between speed and decentralization. This distribution approach streamlines operations while preserving the inherent advantages of a decentralized system. The off-chain components will facilitate crucial interactions to be executed on-chain, while tasks that can be efficiently handled off-chain will occur outside the primary blockchain.
To delve deeper into the impact of their collaboration with Google on propelling DeFi into the mainstream, Cointelegraph interviewed Arjun Arora, COO at Orderly Network. Arora explained that for blockchain technology to gain mainstream acceptance, it must surpass existing solutions. Orderly Network is working on creating a trading Lego that seamlessly integrates decentralized applications (dApps) across blockchains, emphasizing a fusion of the best features from decentralized exchanges (DEXs) and centralized exchanges (CEXs) as a key focus.