Flare Enhances Its Time Series Oracle through Partnership with Google Cloud as Leading Validator
In Brief
By incorporating Google Cloud into its Time Series Oracle, Flare is significantly boosting its validation capabilities and overall contribution to the network.
Blockchain platform Flare announced it is incorporating Google Cloud Taking on a critical role as an infrastructure provider, Google Cloud will operate simultaneously as both a validator and a contributor to the Flare Time Series Oracle (FTSO). FTSO ) within the Flare network.
In its new validator capacity, Google Cloud will have the responsibility of proposing and validating blocks on the Flare blockchain, thereby supporting the chain’s proof-of-stake consensus method.
Google Cloud is set to join a group of 100 organizations This innovative dual role for Google Cloud includes being a validator and contributor to the Flare Time Series Oracle (FTSO), collaborating with approximately 100 infrastructure partners to enhance validators and strengthen the security profile of the Flare network.
Moreover, Google Cloud will play an integral part in Flare’s decentralized price oracle, the FTSO, by supplying readily available pricing information.
The function of an infrastructure provider is vital to Flare’s ambition of delivering decentralized applications both on Flare and across multiple blockchain systems, ensuring consistent access to diverse decentralized data forms, such as pricing and time series metrics, blockchain event and status updates, and even Web2 API data.
As Hugo Philion, Flare’s co-founder and CEO, put it, 'As the blockchain designed for data, we’re thrilled to have Google Cloud join our decentralized community of infrastructure providers. Our collaboration will help us build a more resilient decentralized smart contract platform where decentralized data is central to its operation.'
Philion also pointed out the various struggles existing oracle systems face within the blockchain domain. He noted significant drawbacks such as difficulties with decentralization, prohibitively high costs, scalability hurdles, and increased latency. These challenges typically emerge at the intersection of decentralized computing and outside data.
'Since Flare’s oracles are integrated into the network design, we uniquely position ourselves as the only smart contract platform optimized for obtaining decentralized data. This setup enables developers to access essential data necessary for creating innovative use cases well beyond mere financial speculation,' Philion remarked.
James Tromans, Head of Web3 at Google Cloud He also underscored the critical importance of large-scale data access for advancing blockchain applications and fostering global technology adoption. He indicated that Google Cloud’s role as a validator on the Flare network is aimed at aiding this mission and offering necessary support.
Additionally, Flare has enrolled in the Google for Startups Cloud Program, which is tailored to expedite the growth of Web3 startups. This initiative provides developers within the Flare ecosystem with essential financial and technical resources from Google Cloud and partners.
Transforming Data Access Spurs Blockchain Development
Flare combines affordable EVM smart contracts with decentralized data to empower developers and users with secure access to a wide-ranging data spectrum.
The platform emphasizes scalability, low latency, and affordability. Flare achieves these goals by leveraging the expertise of its network validators to deliver decentralized data to applications operating within a decentralized native Oracle framework. This thoughtful strategy is designed to optimize blockchain flexibility, equipping developers with the necessary variety and richness of decentralized data to drive the adoption of impactful blockchain solutions.
In their effort to minimize trust reliance, Flare Labs, a sister organization to Flare, is actively working on bridging technology. This innovation enables seamless interaction between smart contract and non-smart contract assets, allowing decentralized applications (DApps) developed on the Flare platform to access external tokens.
The inclusion of Google Cloud as a fundamental infrastructure provider signifies a crucial advancement for Flare's blockchain, ensuring reliable access to decentralized data for its users and helping to establish Flare as a leading smart contract platform.
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