Google Cloud Partners with Flare Network
Google Cloud has entered the blockchain infrastructure industry as it joins the Flare network as a network validator and infrastructure provider. Flare, known as “the blockchain for data,” is focused on improving developers’ access to decentralized data through its oracle system. Google Cloud is now one of more than 100 organizations fulfilling this dual role within the network.
Contributing to Flare’s Oracle System
In addition to validating transactions on the Flare blockchain, Google Cloud will also contribute to the Flare Time Series Oracle (FTSO). A blockchain oracle acts as a bridge between blockchain networks and external data sources, allowing smart contracts to interact with and execute based on real-world data. This integration expands the functionality and applications of blockchain technology. FTSO aims to ensure the provision of high-quality, decentralized data.
Positive Outlook from Flare and Google Cloud
Hugo Philion, Co-Founder and CEO of Flare, expressed his excitement about Google Cloud’s partnership. He emphasized the significance of decentralized data and how Google Cloud’s involvement will strengthen the ecosystem. James Tromans, Head of Web3 at Google Cloud, also highlighted the role of scalable data access in expanding blockchain use cases and global adoption.
Data access at scale is crucial to increasing blockchain use cases and global adoption. Google Cloud’s participation as a validator on the Flare network will support that mission.
Surge in FLR Token Price
Following the announcement, the market capitalization of Flare’s token, FLR, has exceeded $700 million. The token’s price has increased by over 20% as a result.
Hot Take: Google Cloud’s Entry into the Blockchain Infrastructure Industry
Google Cloud partnering with Flare Network as a network validator and infrastructure provider has caused a surge in FLR token price. This collaboration showcases the growing interest of major players like Google in the blockchain industry and highlights the importance of decentralized data in the evolution of smart contract platforms. With scalable data access and high-quality data provision, blockchain technology can expand its use cases and achieve greater global adoption. The entrance of Google Cloud into the blockchain infrastructure space marks a significant development in the industry’s advancement.
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