Explore the exciting collaboration between Flare Network and Google Cloud, resulting in a notable rise in FLR's value.
Understand how this partnership benefits the Flare ecosystem, offering enhanced opportunities for developers and token holders.
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Google Cloud Joins Flare's FTSO, Bolstering Flare Network
On January 15, 2024, Flare Network (FLR) announced the inclusion of Google Cloud in its Flare Time Series Oracle (FTSO) as a supporting entity for the Flare network.
The FTSO functions as an organization operating as validators for the Flare Network, responsible for validating new blocks on the Flare blockchain. FLR token holders can earn staking rewards by delegating to an FTSO.
Staking FLR is facilitated through platforms such as the Flare Portal and Bifrost Wallet. Token holders can convert their FLR to WFLR and delegate it to an FTSO of their choice, enabling them to receive 'FTSO Delegation Rewards' and 'FlareDrop Distributions' (available until January 30, 2026).
The FTSO selection interface now includes Google Cloud, providing an additional option for delegation.
Financial and Technical Cooperation with Google Cloud
The announcement also highlighted Google Cloud's role as an infrastructure provider for Flare.
This involvement is crucial for Flare’s mission of providing high-quality access to decentralized data, such as price, time series data, blockchain events, state data, and Web2 API data, for Flare and other chain’s decentralized applications (DApps).
Furthermore, Flare’s participation in the 'Google for Startups Cloud Program' means developers using Flare can now receive financial and technical support from Google Cloud and its partners.
Executives' Perspectives on the Collaboration
Hugo Philion, Co-Founder and CEO of Flare, and James Tromans, Web3 head at Google Cloud, shared their thoughts on this collaboration.
【Flare: Hugo Philion】
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.Although much of the existing utility in the blockchain space comes from the nexus of decentralized computation with external data, existing oracle systems suffer from meaningful drawbacks: they are hard to decentralize, expensive to use, difficult to scale and have high latency.
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.
【Google: James Tromans】
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.
Post-Announcement FLR Price Surge
Following the announcement, the price of FLR surged from $0.017 to a high of $0.024. At the time of writing this article, the price stands at $0.022 per FLR.