The pioneering blockchain for data has formed a revolutionary relationship with Google Cloud, marking a significant step forward in the growth of Flare’s infrastructure. This represents a watershed event in Flare’s history, as Google Cloud takes on a dual role as a network validator and contributor to the Flare Time Series Oracle (FTSO) on the Flare network.
As a network validator, Google Cloud will propose and validate new blocks for the Flare blockchain, therefore maintaining the chain’s proof-of-stake consensus process. This partnership places Google Cloud among the 100 organizations that will serve as validators and contributors to the FTSO on Flare.
This dual job includes maintaining the Flare network’s security as a validator while providing publicly available pricing data to Flare’s highly decentralized price oracle, FTSO. The infrastructure provider job is critical to Flare’s aim of providing decentralized apps on Flare and other chains with high-quality access to decentralized data, such as pricing and time series data, blockchain event and state data, and Web2 API data.
Improving Data Access for Blockchain Adoption
Flare is meant to combine low-cost Ethereum Virtual Machine (EVM) smart contracts with decentralized data, giving developers and consumers secure access to a wide range of data. The objective is to achieve scalability, low latency, and cost-effectiveness by utilizing network validators to supply decentralized data to applications as part of a decentralized native Oracle system.
Flare improves blockchain functionality by providing developers with a quantity and diversity of decentralized data required for generating compelling use cases that drive wider blockchain adoption. Flare Labs’ trust-minimizing bridge solution supports both smart and non-smart contract assets. This technology allows decentralized apps on the Flare platform to effortlessly access other currencies, drawing new users and providing value to Flare as a vertically integrated blockchain for data.
Hugo Philion, Co-Founder and CEO of Flare highlighted his excitement over Google Cloud’s accession to the network, saying, “As the blockchain for data, we are thrilled that Google Cloud is joining our current decentralized network of infrastructure providers that contribute to Flare. Our collaboration will assist in building a more robust decentralized smart contract platform with decentralized data at its heart.”
Philion emphasized the difficulties encountered by existing oracle systems in the blockchain arena, including decentralization, high cost, scalability limitations, and latency issues. He also highlighted how Flare’s unique dual-role strategy overcomes these issues by including oracles in the network’s structure.
James Tromans, Head of Web3 at Google Cloud, emphasized the necessity of data access at scale in expanding meaningful blockchain use cases and worldwide acceptance of the technology. He remarked, “Data access at scale is critical for increasing relevant blockchain use cases and global technology adoption.” Google Cloud’s inclusion as a validator on the Flare network will assist in supporting that aim.
Flare has also joined the Google for Firms Cloud Programme, which aims to promote the growth of Web3 firms. This connection allows Flare developers to receive financial and technical support from Google Cloud and its partners. Following the news, Flare’s native token, FLR, had a significant increase, rising over 5% and reaching a market capitalization of about $613 million, with a current price of approximately $0.0189.
Flare’s cooperation with Google Cloud is a big step towards giving developers unprecedented access to decentralised data. Flare is positioned to change the landscape of decentralized apps and promote worldwide blockchain adoption by combining blockchain’s strengths with Google Cloud’s capabilities.
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