Flare announced the addition of Google Cloud
Google Cloud, as a pivotal network validator, assumes the crucial task of both proposing and validating new blocks within the Flare blockchain ecosystem, thereby bolstering the chain’s proof of stake consensus mechanism.
This strategic partnership positions Google Cloud among the distinguished cohort of 100 organizations embracing the combined role of validator and contributor to the Flare Time Series Oracle (FTSO). These select 100 Flare infrastructure providers play a dual role in fortifying the security of the Flare network as validators while also contributing to Flare’s highly decentralized price oracle, the FTSO, by furnishing publicly accessible pricing data.
The role of infrastructure provider holds paramount significance in furthering Flare's mission to facilitate decentralized applications (DApps) with seamless access to high-quality decentralized data across Flare and other blockchain networks. Such data encompasses a spectrum including price and time series data, blockchain event and state data, and Web2 API data.
Flare distinguishes itself by seamlessly integrating low-cost Ethereum Virtual Machine (EVM) smart contracts with decentralized data. Its overarching goal is to afford developers and users trustless access to an extensive array of data sources, characterized by scalability, minimal latency, and cost-effectiveness. This feat is accomplished through harnessing the network's validators to furnish decentralized data to applications as an integral component of a decentralized native oracle system.
Through this innovative approach, Flare augments the utility of blockchain technology, empowering developers with an expansive pool of decentralized data essential for crafting impactful use cases that drive widespread blockchain adoption. Furthermore, Flare Labs, a sister company, is diligently developing trust-minimizing bridging technology to facilitate the seamless integration of smart contract and non-smart contract assets, thereby endowing decentralized applications built on Flare with access to external tokens. This synergistic integration augments Flare's ecosystem, attracting new users and enhancing its value proposition as a vertically integrated blockchain solution for data management.
Hugo Philion, Co-Founder and CEO of Flare, expressed enthusiasm regarding Google Cloud’s collaboration, highlighting its alignment with Flare's vision: “As the blockchain for data, we are excited that Google Cloud is joining our existing decentralized network of infrastructure providers who contribute to Flare. Our work together will help deliver a more robust decentralized smart contract platform that places decentralized data at its core.”
Philion underscored the challenges associated with existing oracle systems in the blockchain space, emphasizing their inherent limitations such as centralization, high costs, scalability issues, and latency concerns. In addressing these challenges, Philion elucidated how Flare's innovative dual-role approach serves as a viable solution: “Because Flare’s oracles are built into the structure of the network, we are the only smart contract platform optimized for decentralized data acquisition and are able to give developers all the data they need to build new, more relevant use cases beyond financial speculation.”
James Tromans, Head of Web3 at Google Cloud, echoed the significance of data access at scale in fostering the proliferation of relevant blockchain use cases and bolstering global adoption of the technology. Tromans emphasized that Google Cloud's participation as a validator on the Flare network will play a pivotal role in advancing this mission.
Beyond its role as a validator, Flare has also gained recognition within the Google for Startups Cloud Program, designed to accelerate the growth of Web3 startups. This inclusion grants developers on the Flare network access to a wealth of financial and technical support from Google Cloud and its network of partners, further bolstering the ecosystem's vitality and innovation.
In the rapidly evolving landscape of Web3 technologies, the integration of major players like Google Cloud into decentralized networks such as Flare marks a significant milestone. This convergence not only enhances the robustness and decentralization of blockchain ecosystems but also catalyzes the development of innovative use cases that transcend traditional financial speculation, paving the way for broader adoption and real-world impact. As Flare continues to forge strategic partnerships and expand its network of collaborators, the vision of a truly decentralized and data-driven future for blockchain technology draws ever closer to fruition.
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