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May 22, 2024
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Infrastructure

FLR Token up 7% as Google Cloud Becomes Flare Network Infrastructure Provider


Flare, the team behind the $618 million valued crypto token FLR, has welcomed Google Cloud as a crucial infrastructure provider. 

According to an official statement, Google Cloud, the cloud computing division of technology behemoth Alphabet Inc., will assume a dual role on the Flare network. Specifically, Google Cloud will be a contributor to the Flare Time Series Oracle (FTSO) and a validator on the Flare network.

Google Cloud Joins 100 Organizations on Flare 

Following its addition, Google Cloud effectively joins the league of 100 organizations serving dual responsibilities on Flare. As part of this group, Google Cloud will contribute to the FTSO, providing publicly accessible pricing data for “Flare’s highly decentralized price oracle.”

In its role as a network validator, Google Cloud will propose and validate new blocks of transactions on the Flare network. This entails supporting the chain’s proof-of-stake consensus mechanism. 

Furthermore, Flare underscored that the role of infrastructure providers is pivotal to its mission of furnishing dApps with top-tier access to decentralized data. This encompasses a wide range of information, including blockchain state and price time series data.

Significantly, Flare stands out by combining cost-effective EVM smart contracts with decentralized data. Its core objective is to afford users trustless access to an extensive array of data.

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Hugo Philion, Co-Founder and CEO of Flare, expressed his enthusiasm for Google Cloud’s inclusion. He emphasized its alignment with Flare’s vision. Philion stated: 

“Our work together will help deliver a more robust decentralized smart contract platform that places decentralized data at its core.”

Similarly, James Tromans, Head of Web3 at Google Cloud, emphasized the importance of data access at scale for expanding blockchain use cases: 

“Google Cloud becoming a validator on the Flare network will help support that mission.”

Flare Token Takes Impact

FLR price chart CoinMarketCap
FLR Price Chart | CoinMarketCap

CoinMarketCap data shows Flare’s FLR token is up 7% over the past 24 hours. In particular, the token saw a dramatic surge following the announcement, growing from $0.01765 to $0.01934 in under three hours.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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