Google’s (GOOGL) cloud business has become a validator and infrastructure provider on the Flare network.According to a Monday release published by CoinDesk, Google Cloud is one of 100 firms taking on this joint role, contributing to the Flare Time Series Oracle (FTSO) and protecting the network as a validator.
Developers can access decentralized data through Flare’s Oracle system—dubbed “the blockchain for data” by the company.Oracles are entities that link networks to external systems so that smart contracts can be executed based on inputs and outputs from the outside world. This term is used in blockchain terminology.
FLR, the native token of the network, is now trading at about $0.018 and has a market capitalization of almost $550 million.Following announcement of the partnership, the token increased by more than 4%.In order to assist developers in creating use cases for blockchain technology and promoting its adoption, Flare’s infrastructure suppliers are in charge of supplying high-quality data.It’s a major collaboration for Flare and a reminder of the continued embrace of blockchain technology at major tech companies like Google, as hardly many organizations provide access to as much data as Google Cloud does.