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- Google Cloud partners with Flare, boosting blockchain security and supporting decentralized data access.
- Flare aims to overcome traditional Oracle issues, offering efficiency and accessibility to developers.
Google Cloud has announced its collaboration with Flare, a blockchain platform designed for data. Google Cloud is set to become an infrastructure provider for Flare, further bolstering the network’s capabilities and reliability. This partnership marks a milestone towards decentralized data access and blockchain adoption.
As the newest network validator and contributor to Flare’s Time Series Oracle (FTSO), which runs on the Flare network, Google Cloud’s introduction into the Flare ecosystem is noteworthy. Within the Flare network, Google Cloud will be an important contributor to the proposal and validation of new blocks. Flare’s proof of stake consensus process is supported, and this active involvement improves network security.
With Google Cloud’s arrival, Flare has an astounding 100 infrastructure suppliers. They are all suppliers to FTSO, contributing and validating each other’s work. They want to ensure that platforms and decentralized apps (DApps) on Flare have access to precise and openly accessible pricing information by strengthening Flare’s decentralized price oracle, FTSO.
Shared Vision for Decentralized Data
Flare’s objective has always been to give DApps on Flare and other blockchain chains high-quality access to decentralized data. This covers a variety of data kinds, including Web2 API data, blockchain event and status data, pricing and time series data, and more.
James Tromans, Head of Web3 at Google Cloud, emphasized the importance of data access at scale in increasing the relevance of blockchain use cases and driving global adoption of the technology. He stated,
“Google Cloud becoming a validator on the Flare network will help support that mission.”
Blockchain applications require oracles to retrieve external data sources to provide decentralized computing. However, there have been a lot of problems with traditional Oracle systems, such as slowness, centralization, high costs, and scalability problems.
Flare uses a dual-role strategy to try to address these shortcomings. Flare becomes the only smart contract platform for decentralized data collecting by including oracles in the network architecture. This gives developers access to the information required to produce fresh and pertinent use cases beyond simple financial conjecture.
Flare’s Unique Value Proposition
Flare distinguishes itself by merging low-cost EVM smart contracts with decentralized data access, enabling developers and consumers trustless access to multiple data sources. The platform’s oracles reduce expenses by prioritizing high scalability and low latency. This is accomplished by utilizing the validators on the network to supply programs with decentralized data, creating a decentralized native Oracle system.
By offering efficiency and accessibility, Flare empowers developers to expand their platforms and DApps, ultimately enhancing the utility of blockchain technology. Developers gain decentralized data to explore new use cases, accelerating blockchain adoption.
In addition to its core offerings, Flare Labs, a sister company to Flare, offers trust-minimizing bridging technology known as FAssets. This technology enables both smart contract and non-smart contract assets to be accessible to decentralized applications. It includes tokens like Bitcoin, XRP, and Dogecoin, contributing to Flare’s status as a vertically integrated blockchain for data.
After the announcement of this news, Flare(FLR) surged by 24% in the last 24 hours, trading at $0.02179. Additionally, Ripple hasn’t had any substantial impact from the announcement. XRP is trading at $0.58, with a 0.26% decline in the last 24 hours