Key Points
- Google Cloud joins Flare as a validator, boosting decentralization and data synergy for Flare and its dApps.
- This collaboration marks Google Cloud’s debut in a decentralized oracle system, enhancing data access at scale and blockchain adoption.
- The partnership promises to unlock opportunities for data-driven use cases in Web2 and Web3, fostering the development of innovative dApps on the Flare network.
Google Cloud and Flare: Fueling a Data Revolution in Style!
Google Cloud’s recent partnership with Flare is set to bring about significant decentralization and advancements in data synergy for Flare and its decentralized applications (dApps).
As of January 15, 2024, Google Cloud has stepped in as a validator, joining almost 90 peers worldwide in supporting Flare’s proof-of-stake (PoS) consensus mechanism and participating in the validation of new blocks on the Flare blockchain.
This collaboration marks a pivotal moment as Google Cloud also becomes a key player in Flare’s decentralized oracle mechanism, known as the Flare Time Series Oracle (FTSO).
In its role as a data provider for FTSO, Google Cloud is tasked with fetching off-chain time series data and regularly supplying it to the FTSO smart contract.
Notably, Google Cloud’s participation in FTSO integration marks the first time the tech giant has been involved in a decentralized oracle system, either on a blockchain (as with Flare) or with an off-chain system like Chainlink.
This collaboration holds promise for unlocking new opportunities in data-sensitive use cases across both Web2 and Web3, ultimately contributing to the development of innovative dApps on the Flare platform.
Expanding Flare’s Horizon with Google Cloud
The partnership has had an immediate impact on Flare’s native token, FLR, which saw an impressive surge of up to 35% in its value. This increase is a strong indicator of the market’s positive response to the collaboration.
In addition to the boost in FLR’s value, Flare’s commitment to decentralized data accessibility is poised to transform blockchain use cases across various sectors, as noted by industry observers.
Notably, Flare Labs, a sister company to Flare, is also making strides with its FAssets technology. This innovation enables the integration of both smart contract and non-smart contract assets, expanding the blockchain’s reach and utility. The inclusion of popular tokens like Bitcoin, XRP, and Dogecoin through this technology underlines Flare’s comprehensive approach as a blockchain for data.
Moreover, Flare’s inclusion in the Google for Startups Program opens new doors for Web3 startups, providing them with crucial support for growth and development.
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