- Google Cloud has joined hands with Web3 startup ‘Orderly Network’ to augment DeFi
- The partnership aims to resolve the security issue and entry barrier in DeFi.
Google Cloud aims to mitigate the encumbrance that users face while trying to enter the decentralized ecosystem. In collaboration with a Web3 startup, ‘Orderly Network’, user-centric development tools are to be created that can simplify DeFi for users.
How Is This Going To Improve DeFi?
Before taking a deep dive into what exactly this collaboration of Google Cloud and Orderly Network strives for, let’s first learn about this fairly new and innovative Web3 startup, Orderly Network. It is a decentralized protocol whose framework has been specifically created for DeFi developers and traders in Web 3. This enables an accelerated trading experience with low fees and unifies liquidity.
Both technologies, Google Cloud and Orderly Network, complement each other and focus on developing off-chain exchange of DeFi infrastructure. Since on-chain transactions can have a long lag time and also need network validation, off-chain transactions are preferred for instant execution of transactions and less lag time.
Google Cloud officially stated that this collaboration has been concretized in light of increasing demand from clients to mitigate the blockchain workloads on the platform. Rishi Ramchandani, currently working as an APAC (Asia-Pacific) lead for Google in the Web3 domain, stressed the fact that it is high time that there be a solution to blockchain workload issues stimulated by its rigorous working.
He firmly stated that working with Orderly Network will take Google a step further in creating robust infrastructure that can fill in the gaps and eradicate flaws in Defi’s ecosystem. This will also help to enhance scalability in the dynamic space of Web3 with the assistance of user-centric developer tools.
Expanding The Landscape Of DeFi
Blockchain technology has been an impeccable revolution in the fintech industry. With the surge in the number of uses, the exploration of decentralized technologies by the financial industry has also increased exponentially. J.P. Morgan, the world’s leading financial firm dealing with fiat currency, has also been proactively testing various blockchain-based solutions.
JPMorgan recently made use of blockchain to facilitate 24/7 dollar transfers with Indian banks in light of growing signs of global de-dollarization which mitigates the world’s reliance on US dollars. Orderly insistence on distributing the DeFi workload into on-chain and off-chain components will ensure equilibrium between speed and adequate decentralization.
Arjun Arora, chief operating officer of Orderly Network, claimed that they insist on streamlining operations without compromising the organic advantages of a decentralized system. He also added that to outperform and supersede the current solutions, blockchain technology needs to be amended in a way that seamless decentralized integration of applications can happen across blockchains.
Conclusion
The benefits of self-custody and transparency are the pros that are inherited in a decentralized finance framework. The partnership between Google Cloud and Orderly Networks aims to maintain the pros of DeFi while ensuring the safety and security of its ecosystem through the creation of user-centric developer tools.
