Flare Blockchain also known as “the blockchain for data” announced that it has entered into a strategic partnership with Google Cloud as an infrastructure provider. This announcement was made on Monday, January 15, on Flare’s X account, formerly known as Twitter. Google Cloud joined to contribute to the network validators and the Flare Time Series Oracle (FTSO) on the Flare Network.
Following this announcement, Flare (FLR) price experienced a surge from its recent threshold of $0.018 to $0.023 making it a top market gainer on January 15.
As a Network validator on the Flare blockchain, Google Cloud will propose and validate new blocks to the blockchain to support the Proof-of-Stake consensus mechanism. It will join 100 other organizations as contributors and validators to FTSO. These are entities that offer access to the same volume as Google Cloud.
Flare Blockchain Overview
Flare Networks is a blockchain platform that integrates smart contract functionality with various blockchain networks, particularly aiming to bring smart contracts to networks that do not natively support them.
The Networks plays a notable role in expanding the capabilities of blockchain ecosystems by bringing smart contract functionality to networks that do not inherently support it. Its integration with the XRP Ledger and the introduction of F-Assets demonstrate efforts to create a more interconnected and versatile blockchain landscape.
The infrastructure providers are responsible for providing high-quality data and helping developers build use cases for blockchain technology and further its adoption. It helps developers access decentralized data through its Oracle System.
Flare Networks has collaborated with various projects and blockchain networks to expand its ecosystem and enhance interoperability.
The Networks gained attention for its integration with the XRP Ledger. The integration allows XRP holders to participate in the Flare Network and receive Spark tokens based on their XRP holdings.
FXRP is a trustless representation of XRP tokens on the Flare Network. It can be created and redeemed by XRP holders through Smart contracts.
About Google Cloud
Google Cloud is a comprehensive suite of cloud computing services provided by Google. It offers a wide range of solutions, including computing power, storage, database management, machine learning, data analytics, and more.
Google Cloud extensive suite of services, global infrastructure, and integration with other Google products make it a compelling choice for businesses looking to leverage cloud computing for innovation, scalability, and efficiency. Organizations can benefit from Google Cloud’s capabilities across various domains, from infrastructure management to advanced data analytics and artificial intelligence.
Flare Blockchain Partnership Impact Price
According to Coinmarketcap report, Flare native token, (FLR), operating as an EVM-base layer 1, experienced a 20.8% upward movement in price with a 24 hours trading volume of $38.9 million. The price was around $0.018 before the announcement was made.
This means high returns for Flare (FLR) holders and promising future for new investors. The increase in the price of a Flare (FLR) can have several potential benefits for various stakeholders, including investors, project developers, and the broader community.