Google Cloud Joins Flare Network Causing FLR Jump

Blockchain

MARKET_WATCH

Google Cloud enters the blockchain infrastructure industry by joining Flare as a network validator and infrastructure provider, causing Flare’s token FLR to jump in price.

Flare Network Welcomes Google Cloud, FLR token surges

Google Cloud has joined the Flare network as a network validator and infrastructure provider. Flare, self-described as “the blockchain for data,” is working to improve the way developers access decentralized data through its oracle system. Google Cloud is one of more than 100 organizations in this dual role.

In addition to validating transactions on the Flare blockchain, Google Cloud will also contribute to the Flare Time Series Oracle (FTSO). A blockchain oracle is a bridge that connects blockchain networks to external data sources, enabling smart contracts to interact with and execute based on real-world data and events. They expand the functionality of blockchains, allowing them to integrate with and respond to information outside their native network, thereby broadening the scope and practical applications of blockchain technology. The FTSO aims to ensure the provision of high-quality, decentralized data.

Hugo Philion, Co-Founder and CEO of Flare, expressed his enthusiasm about Google Cloud’s addition to their network. He highlighted the importance of decentralized data in the evolution of smart contract platforms and how Google Cloud’s participation will contribute to a more robust ecosystem.

James Tromans, Head of Web3 at Google Cloud, also emphasized the critical role of scalable data access in expanding blockchain use cases and global adoption.

Data access at scale is important to increase relevant blockchain use cases and greater global adoption of the technology. Google Cloud becoming a validator on the Flare network will help support that mission.

Following the announcement, FLR’s market capitalization has surged to over $700 million, with its price per token seeing an over 20% increase.

Source : Bitcoin News by David Sencil / Jan 17, 2024

rayn.finance logo

Automata FRANCE SAS

240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma

Italy

The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act. How we keep your money safe.