Google Cloud Joins Flare Network as Validator, FLR Jumps 5%

Flare, which calls itself "the blockchain for data," gives developers access to decentralized data via its Oracle system

AccessTimeIconJan 15, 2024 at 1:00 p.m. UTC
Updated Mar 8, 2024 at 7:58 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

The cloud division of tech giant Google (GOOGL) has joined the Flare blockchain as a validator and infrastructure provider.

Google Cloud is one of 100 organizations adopting this combined role, both securing the network as a validator and contributing to the Flare Time Series Oracle (FTSO), according to an announcement shared with CoinDesk on Monday.

  • Legal Expert on Pitfalls of FTX's Bankruptcy Plan
    13:45
    Legal Expert on Pitfalls of FTX's Bankruptcy Plan
  • Dogecoin Appears on Track for a 'Golden Cross'
    01:01
    Dogecoin Appears on Track for a 'Golden Cross'
  • TON, RNDR Surge; Kraken Asks Court to Dismiss SEC Claims
    02:07
    TON, RNDR Surge; Kraken Asks Court to Dismiss SEC Claims
  • Are Art NFTs Here to Stay?
    15:56
    Are Art NFTs Here to Stay?
  • Flare, which calls itself “the blockchain for data,” gives developers access to decentralized data via its Oracle system. In blockchain parlance, Oracle refers to entities that connect networks to external systems, thereby allowing smart contracts to be executed based on inputs and outputs from the outside world.

    The network’s native token, FLR has a market cap of nearly $550 million and is priced at around $0.018. The token jumped over 4% after the partnership news came out.

    Flare’s infrastructure providers are the parties responsible for providing high-quality data, thus helping developers build use cases for blockchain technology and further its adoption.

    There are few entities that offer access to such a volume of data as Google Cloud, making it a banner partnership for Flare and a reminder of the blockchain adoption ongoing at tech giants like Google.

    UPDATE (Jan. 15, 13:01 UTC): Updates headline and story to add token movement.

    UPDATE (Jan. 15, 13:32 UTC): Updates to reflect Google Cloud's combined role as a validator and contributor to FTSO.

    Edited by Parikshit Mishra.


    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.