- Fantom has inked a strategic partnership with Google Cloud, which now serves as its key validator, a linkup that might drive price growth.
- Google Cloud will help power the development of smart DApps on Fantom.
- The price of Fantom (FTM) is in recovery pace following the news.
Discover how Fantom’s strategic partnership with Google Cloud is set to revolutionize its ecosystem and potentially drive significant price growth.
Fantom and Google Cloud: Beyond Node Validation
It is worth noting that beyond the role of the tech giant in validating Fantom transactions as a node validator, it will also help in incentivizing innovation on Fantom. With this incentivization scheme, Fantom developers will be set up to build the next generation of decentralized applications on the protocol.
Leveraging Google Cloud’s Infrastructure
Google Cloud is not a new dominant partner with crypto-related companies. Despite its numerous partnerships with Web3 firms, its offerings or support are generally customized. In the case of Fantom and Google Cloud, the DAG said it will leverage the “secure, scalable and resilient infrastructure” of the latter as well as its Artificial Intelligence (AI) capabilities to help its developers.
With this access, Fantom developers can build “smart and safer products that engage users in more meaningful ways.” It is worth noting that the validator responsibilities of Google will be carried out on the protocol’s Opera Network. Later, Fantom plans to migrate Opera to its new EVM compatible Sonic Network.
Fantom identified its partnership with Google Cloud as a major pathway in its transformation journey. The partnership will build on the existing relationship wherein Google Cloud indexes Fantom’s data in BigQuery as part of its public datasets program.
Courting the FTM Evolution, Price Reaction
While Fantom is one of the most capitalized digital currency projects in the market today, it is still regarded as one of the most undervalued. This might change with the Google Cloud linkup. With the partnership, the entire Fantom ecosystem will become attractive in performance and throughput.
This will in turn attract more developers, more DApps and more enhanced usage to drive value that can bolster FTM’s price. At the time of writing, Fantom is changing hands for $0.8231, down by 0.83% in 24 hours. Notably, this is a major recovery price for the coin which fell by more than 6% intra-day. At the moment, trading volume is pegged at 39% to $241,594,633 as interest is beginning to build.
Conclusion
The whole Google Cloud partnership is also coming at a time when Fantom is looking to pivot in the smart contract scene. With Sonic Network and the launch of Sonic Labs and strategic funding secured, the upside of the partnership remains high. This collaboration is poised to bring significant advancements to the Fantom ecosystem, potentially driving substantial growth and innovation in the near future.
