OnFinality and Google Cloud Enhance Node Infrastructure and Data Analytics Support for Polkadot Parachain Builders

Press Release • September 14, 2023
  • With support from the Polkadot treasury, OnFinality and Google Cloud to provide common good infrastructure to help parachains scale without excessive technical overhead
  • OnFinality and Google Cloud to help deliver blockchain analytics for developers in and beyond the Polkadot ecosystem


Today at TOKEN2049, OnFinality and Google Cloud announced their support for two community-backed initiatives to empower developers to build, launch, and scale interconnected decentralized applications (dApps) on the Polkadot network. To advance the growth of emergent parachains and the overall maturity of the Polkadot ecosystem, the first initiative will reduce the complexity and cost associated with blockchain node infrastructure management while the second initiative will help power large-scale blockchain analytics capabilities.


Launched by Web3 Foundation in 2020 and now managed by its community via on-chain governance, Polkadot is a blockspace ecosystem uniting a network of interoperable, use-case specific blockchains called parachains (parallel chains). Polkadot facilitates secure cross-chain transfers of any data or asset, enabling the development of applications and services that span multiple parachains. Polkadot provides several benefits to Web3 innovators, including security, flexibility, efficiency, cost-effectiveness, and fast time-to-market.


Parachains are built using the modular and flexible Substrate framework, allowing developers to customize the components (e.g., network stack, consensus model, transaction format, governance method) best suited to the needs of their use case. This includes any Web3 use case, from decentralized finance (DeFi) applications to digital wallets, social media applications, gaming applications, Web3 infrastructure services, and much more.


OnFinality provides high performance public infrastructure for the Polkadot ecosystem


Under the first initiative, OnFinality is providing enterprise-level blockchain infrastructure and tooling support that is funded by the Polkadot treasury and built on Google Cloud for all 40+ Polkadot parachains. With equitable funding from the treasury to cover common good infrastructure provided by OnFinality’s Ultimate API Service (i.e., provision of high performance Remote Procedure Call or RPC endpoints, including archive and trace nodes), developers can seamlessly create and connect their dApps on and across parachains without incurring excessive DevOps and infrastructure management overhead. In the immediate term, this helps promising yet emergent parachains to continue meeting the needs of their independent communities.


To ensure that this initiative is cost-efficient for the Polkadot treasury, OnFinality has selected Google Cloud as the primary cloud provider to power its Ultimate API Service. By hosting this service on Google Kubernetes Engine (GKE), OnFinality can leverage GKE’s serverless, dynamic autoscaling, distributed load balancing, and health monitoring capabilities to concurrently manage all 40+ parachain networks, keep up with constantly changing request volumes, and meet its service level targets of 99.99 percent uptime. GKE’s best-in-class autoscaling features, in particular, helps OnFinality optimize costs and pass on its savings to the Polkadot treasury.


In the longer term, OnFinality has proposed setting up a Parachain Infrastructure Bounty with more than 10 other solution providers to deliver provider-agnostic common good infrastructure for all active Polkadot parachains. The goal is to make the ecosystem more harmonious, unify processes and tools, speed up development progress, and help all new parachain teams kick-start their projects.


James Bayly, Chief Operating Officer, OnFinality, said: “OnFinality has been the trusted launch partner for more than 40 Polkadot parachains. As a result of the prolonged winter, many parachain teams have requested for help to cover the operating expenses of RPC endpoint services, which we’ve managed to provide at no cost to the best of our abilities. We’re humbled to now be entrusted with funding from the Polkadot treasury to support all parachains. This level of ecosystem support reaffirms Polkadot’s reputation as one of the most developer-friendly ecosystems and a top choice for appchain builders when deciding which layer 0 to build in. With Google Cloud proving to be the best option for running our full suite of services in a cost-optimized, automated, and highly reliable way, we look forward to making more contributions to Polkadot, such as providing RPC support for the upcoming Polkadot Data Alliance.”


Polkadot Data Alliance to deliver aggregated on-chain and cross-chain analytics


Building on the first initiative, the second initiative involves establishing a Polkadot Data Alliance. This involves building and maintaining Dotlake, a scalable common data platform that democratizes access to on-chain and cross-chain analytics for data users in and beyond the Polkadot ecosystem. Powered by Google Cloud’s data management capabilities, such as Cloud Storage, BigQuery, Cloud Run, Cloud Functions, and Workflows, Dotlake will allow users to more easily and accurately assess the value, health, and potential of the Polkadot ecosystem and benchmark it against other ecosystems.


Third-party data experts have been enlisted from the community to facilitate and guide this initiative to ensure transparency, that engineering best practices are being applied, and that the initiative delivers high quality data solutions. OnFinality is leveraging the community’s complete support for the Polkadot network to provide the trace RPC API endpoints necessary to populate the data platform.


To facilitate all on-chain data from the Polkadot ecosystem becoming available for public consumption, a treasury-funded Polkadot Data Alliance Bounty has been set up to provide underrepresented and resource-limited parachains with Google Cloud’s secure data hosting infrastructure services and OnFinality’s universal data indexing support. To avoid redundancy and unnecessary costs, the alliance will also use existing data solutions—such as the Colorful Notion Substrate ETL project that has already indexed data from over 70 parachains —as well as open source data formats and services.


There are further plans for the alliance to offer shared community data visualization and reporting dashboards on top of Dotlake – with common metric definitions and computations, support for exporting the data to other known analytics platforms (e.g., Nansen, Dune Analytics), and educational materials to reduce knowledge gaps around working with Substrate and Cross-Consensus Message Format (XCM) data.


Mitesh Agarwal, Managing Director, Solutions and Technology, Asia Pacific, Google Cloud, said: “Web3 companies continue to build on Google Cloud because of the scalability, security, and sustainability of our enterprise-grade infrastructure and developer-friendly platform. As new industry use cases emerge, we’re focused on working with global organizations like Polkadot and OnFinality—who also serve a community of parachain builders in this region—to enhance the resilience of foundational layers, deliver high-quality on-chain and cross-chain datasets for easy analysis, and facilitate faster access to dApps for users.”


About Polkadot


Polkadot is the blockspace ecosystem for boundless innovation. It enables Web3’s biggest innovators to get their ideas to market fast, with flexible costs and token options. By making blockchain technology secure, composable, flexible, efficient, and cost-effective, Polkadot is powering the movement for a better web.


About OnFinality


OnFinality is a blockchain infrastructure platform that saves Web3 builders time and makes their lives easier. OnFinality delivers scalable API endpoints for the biggest blockchain networks and empowers developers to automatically test, deploy, scale, and monitor their own blockchain nodes in minutes. To date, OnFinality has served hundreds of billions of RPC requests, supports over 100 networks including Avalanche, BNB Chain, Cosmos, Polkadot, Ethereum, and Polygon, and is continuously expanding these mission-critical services so developers can build the decentralized future, faster.


About Google Cloud


Google Cloud accelerates every organization’s ability to digitally transform its business and industry. We deliver enterprise-grade solutions that leverage Google’s cutting-edge technology, and tools that help developers build more sustainably. Customers in more than 200 countries and territories turn to Google Cloud as their trusted partner to enable growth and solve their most critical business problems.


Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. None of the content on Crypto Folds is investment advice nor is it a replacement for advice from a certified financial planner. Please do your own research before purchasing or investing into any cryptocurrency.  
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Paper money eventually returns to its intrinsic value - zero." - Voltaire, 1729 (And here we are.)  As global debt explodes past 324 trillion dollars and inflation devours savings in real time, one thing is clear. The system is broken. Beyond repair. Enter the $1 coin. Yes, it’s a memecoin. But it's also a digital middle finger to the fiat Ponzi scheme that has defined the last century of monetary policy. Fiat currency, unbacked by anything real since Nixon torched the gold standard in '71, has reached the end of its runway. The debt ceiling is a suggestion. The dollar, once the world's most trusted store of value, is now a melting ice cube backed by fighter jets and warships. The results are exactly what history predicted. Endless debt. Monetary debasement. Asset bubbles. Widening inequality. And yet the printers run hot while policymakers pretend this is all normal. The Birth of the $1 Coin (and the Death of the Real One) Since 1913, the year the Federal Reserve was birthed in secrecy, the U.S. dollar has lost over 95% of its purchasing power.Translation: the dollars in your wallet are like Monopoly money on fire. That's why $1 was born. It is a digital counterpunch to the dying fiat regime. A dollar you can't print, can't inflate, and can't be weaponized by unelected bankers in ivory towers. Just conviction on-chain. The Real Target: $32.47 and Rising Why $32.47? That's what $1 from 1913 would be worth today. Over 111 years of purchasing power decay due to inflation. So that's the target. A protest. A message to the system that we haven't forgotten what a dollar is supposed to mean. And that number keeps rising every year. Because the theft continues by design. The Davinci $1 Echo The name “just buy $1 worth of this coin” carries a deeper meaning than most realize. It’s a direct nod to Davinci Jeremie’s now-iconic 2011 YouTube plea: “Just buy $1 worth of Bitcoin.” At the time, few listened. Today, that $1 would be worth tens of thousands. That one sentence has become one of the most prophetic and replayed pieces of crypto history. And it’s now being reinterpreted through a memetic lens as protest. The $1 coin inherits that spirit. It revives Davinci’s signal as a meme, as a dare, as an invitation to opt out of the broken system by doing the simplest thing possible: just buying $1 worth of this coin. Memecoins are Tokenized Culture Memecoins are tokenized belief systems. They tokenize values, narratives, and community energy. Memecoins do not promise vaporware tech breakthroughs or utility apps. It’s simply conviction on-chain. There’s a reason memecoins are exploding in popularity: people are tired of the rich venture capital gatekeepers. Tired of being broke and alone. In a world where 1 in 6 people suffer from chronic loneliness, these online communities offer belonging, laughter, and shared goals. $1 is exactly that. A community-driven, cult-like movement made up of people from all walks of life who’ve decided to make a stand. Nobody is paid to contribute. External marketing efforts are supported by donations and sales generated from the $1 NFT collection . No hidden treasury of coins. The original deployer dumped their entire coin holdings in December 2024, walked away, and left behind an open playing field. Since then, a small group of volunteers took the reins and have been exposing the lies of fiat one meme at a time. It’s Just the Beginning. When the next round of money printing begins. When inflation returns. When debt spirals beyond control.You’ll see it clearly. The system will not save you. But the message will still be there. The same one that was whispered in 2011 and memed into existence in November 2024: Just buy $1 worth of this coin. Website: 1dollarsol.com Telegram: https://t.me/DollarCTOPortal X: https://x.com/1DollarSol
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A decentralized crypto protest is gaining traction amid rising economic uncertainty. The $1 coin , abandoned in 2024, has officially been relaunched.  The resurgence is linked to recent macroeconomic news as symbolic protest against today's challenges, such as inflation and fiat monetary policy. The team behind the $1 sees an overall erosion of trust in the economy, starting from central banks. What began as a joke is now an on-chain movement. This initiative represents frustration with monetary debasement and gathers people who are not pleased with the current institutional opacity. A Protest Coin for a Turning Point in Monetary History The reawakening of $1 comes as a cascade of macroeconomic shocks and cultural flashpoints that challenge assumptions about fiat stability. This moment is defined by a convergence of forces: The U.S. dollar has fallen 11% year-to-date. Global de-dollarization is accelerating: BRICS nations are shifting to local currency trade, while the EU is exploring EUR-settled energy markets. The “One Big Beautiful Bill” (OBBB) legislation has passed, triggering renewed public debate over national debt and inflation risk. Elon Musk has dragged the fiat debate into the mainstream, using X as his battlefield: He reposted: “Tax cuts are worthless if the government keeps overspending. Inflation is the real tax.” When asked if the America Party would embrace Bitcoin, he replied, “Fiat is hopeless, so yes.” Both posts from Elon went viral, galvanizing conservatives, Bitcoiners, and disillusioned voters alike. Within this context, the $1 coin has resurfaced as a symbolic instrument. The project is a digital protest born from cultural frustration. From Abandonment to Decentralized Continuity After its original developer exited in late 2024, the memecoin was left without a roadmap, treasury, or active team. A decentralized group of supporters voluntarily assumed the website and social media channels, transforming the abandoned coin into an evolving anti-fiat campaign. The name itself references the loss of purchasing power over the last century. In 1913, $1 held the value equivalent to $32.47 at the time of writing, which is the project’s target price today. The memecoin reclaims that lost value symbolically as the “unprintable dollar.” The team's strategy is not based on promises of utility or price predictions, but on cultural alignment and the pursuit of financial sovereignty. A Digital Echo of a Historic Signal The phrase “Just buy $1 worth of this coin” is the official name of the project and echoes the famous 2011 appeal by early Bitcoin advocate Davinci Jeremie: ”Just buy $1 worth of Bitcoin.” That same ethos (individual action as quiet defiance) now fuels the $1 movement. The difference is that this message is now embedded in meme culture, open contribution, and collective resistance. Supporters also fund the movement through the project's NFT collection. These digital collectibles serve not as speculative assets but as community badges. These are small, symbolic acts of support with the underlying message. A Movement, Not a Product The $1 project offers no central leadership, no development roadmap, and no technological utility. Its value lies in what it represents: A critique of unchecked monetary expansion A decentralized symbol of protest A tokenized community in an era of financial uncertainty Participation is open, and contributions are voluntary. Messaging is coordinated publicly through social channels, with no presales or treasury allocations tied to the token itself.​​The ultimate goal is cultural as much as financial. If and when the price surpasses one US dollar, the statement becomes undeniable: the unprintable dollar outperformed the one that was printed into irrelevance. That moment will serve as both validation and the centerpiece of the movement’s narrative. About $1 The $1 memecoin is a community-led crypto protest launched on Solana in 2024. It was revived in 2025 by a decentralized group of volunteers. It operates without a central team, funding, or promised utility. The token is intended to draw attention to long-term fiat debasement and the diminishing purchasing power of government currencies. The accompanying NFT collection helps fund outreach and operational efforts. $1 is not a financial instrument. It is a cultural response to macroeconomic disillusionment. Anyone wishing to find out more about the $1 project and its long-term view can visit the official website . The social media pages below (X and Telegram) are another way to keep in touch with this team. X (Twitter) | Telegram | Reddit
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