Major cloud service providers are showing increased interest in joining blockchain networks.
Blockchain is undergoing a critical turning point, shifting from an emerging technology into a useful business tool that enterprises want to incorporate into existing IT stacks. As more companies continue to explore how blockchain can help achieve digital transformation, major cloud service providers are showing increased interest.
For example, Google Cloud recently became a network block producer by joining the EOS blockchain community. Block producers on EOS are elected by token holders to add transactions to blocks, add blocks to the blockchain, and implement software changes.
While Google Cloud must still be elected to become one of the 21 active EOS block producers, Allen Day, developer advocate at Google Cloud, told Cointelegraph that Google is broadly interested in open-source protocols and distributed ledger technology, or DLT:
“We’re seeing active enterprise participation in these sorts of networks, and believe Google Cloud can reduce the friction for companies to run their own Google Cloud-hosted nodes on the network. We’re also providing cloud infrastructure to Block.one as well, helping them host their own development efforts.”
Earlier this year, Google Cloud also joined Hedera Hashgraph’s governing council, enabling Google Cloud to operate a Hedera network node. According to Day, Hedera ledger data is now available for analytics alongside Google Cloud Platform’s other public distributed ledger datasets. Google Cloud also runs a validator node for the Theta Network, a decentralized video platform.
In addition to Google Cloud’s support for DLT, Amazon Web Services is listed as a cloud service provider for China’s Blockchain-Based Service Network — a government-backed initiative designed to help small- to medium-sized businesses build and deploy blockchain applications. It’s also notable that Microsoft announced it would be integrating the Lition blockchain into its Azure Cloud marketplace.
Alphabet Inc. is a holding company. The Company’s businesses include Google Inc. (Google) and its Internet products, such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo and X.
The Company’s segments include Google and Other Bets. The Google segment includes its Internet products, such as Search, Ads, Commerce, Maps, YouTube, Google Cloud, Android, Chrome and Google Play, as well as its hardware initiatives.
The Google segment is engaged in advertising, sales of digital content, applications and cloud offerings, and sales of hardware products.
The Other Bets segment is engaged in the sales of Internet and television services through Google Fiber, sales of Nest products and services, and licensing and research and development (R&D) services through Verily.
It offers Google Assistant, which allows users to type or talk with Google; Google Maps, which helps users navigate to a store, and Google Photos, which helps users store and organize all of their photos.
Overall, the bias in prices is: Downwards.
By the way, prices are vulnerable to a correction towards 1,500.50.
The projected upper bound is: 1,568.52.
The projected lower bound is: 1,396.74.
The projected closing price is: 1,482.63.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 25 white candles and 25 black candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 49.2630. This is not an overbought or oversold reading. The last signal was a sell 4 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 49.06. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 24 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 95. This is not a topping or bottoming area. The last signal was a buy 9 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 5 period(s) ago.
Rex Takasugi – TD Profile
ALPHABET INC A closed up 24.290 at 1,483.430. Volume was 27% below average (neutral) and Bollinger Bands were 21% narrower than normal.
Open High Low Close Volume 1,465.450 1,488.027 1,465.450 1,483.430 1,303,802
Technical Outlook Short Term: Neutral Intermediate Term: Bearish Long Term: Bullish
Moving Averages: 10-period 50-period 200-period Close: 1,464.93 1,520.66 1,410.33 Volatility: 27 35 49 Volume: 1,539,261 1,752,915 2,072,142
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALPHABET INC A is currently 5.2% above its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.
Our volume indicators reflect volume flowing into and out of GOOGL.O at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOOGL.O and have had this outlook for the last 18 periods. Our momentum oscillator has set a new 14-period high while the security price has not. This is a bullish divergence.
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