Fantom (FTM), the Directed Acyclic Graph (DAG) protocol has partnered with Google Cloud, which will now serve as a key node validator for the platform. The collaboration is set to enhance the development and performance of smart decentralized applications (DApps) on Fantom, leveraging Google Cloud’s robust infrastructure and artificial intelligence (AI) capabilities.
About The Fantom Foundation
The Fantom Foundation is dedicated to growing and supporting the Fantom ecosystem and its technology. Our worldwide team is made up of engineers, scientists, researchers, designers, marketers, and entrepreneurs who share the same vision to advance the industry forward.
Fantom and Google Cloud
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.
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. As a DAG protocol, Fantom is generally more scalable compared with its peers. However, with the Google Cloud linkup, it hopes to further extend its lead to gain significant market share.
Fantom (FTM) Price
While Fantom is one of the most capitalized digital currency projects in the market, 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. 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.
At the time, Fantom (FTM) is trading at $0.8334. Its trading volume is $230,146,348 in the last 24 hours and its market capitalization is $2,337,683,643.
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Investor Caution
Even though the Fantom (FTM) journey has been exciting, please bear in mind that the crypto market can be volatile. Make sure to do your research, assess your risk tolerance, and consider the long-term potential of any investment.
Impact on Market and Asset Prices
Market Implications
- Fantom’s partnership with Google Cloud signals a significant advancement in blockchain technology, attracting attention from investors and developers interested in decentralized applications (DApps) and smart contract platforms.
- The collaboration enhances Fantom’s credibility and technological capabilities, potentially positioning it as a frontrunner in the blockchain industry, thereby impacting market sentiments towards similar projects.
- The integration of Google Cloud’s infrastructure and AI capabilities into Fantom’s ecosystem may attract more institutional interest and investment in blockchain projects, contributing to overall market growth and adoption.
Asset Price Implications
- The announcement of Fantom’s partnership with Google Cloud could lead to increased demand for FTM tokens, driving up their price as investors anticipate enhanced performance and throughput within the Fantom ecosystem.
- Positive market sentiment surrounding Fantom’s technological advancements and strategic partnerships may fuel a bullish trend in FTM token prices, potentially attracting new investors seeking growth opportunities.
- However, investors should exercise caution due to the inherent volatility of the cryptocurrency market, conducting thorough research and assessing risk tolerance before making investment decisions.
Conclusion
Fantom’s collaboration with Google Cloud represents a significant leap forward in blockchain technology, garnering interest from investors and developers alike. By bolstering Fantom’s credibility and technological prowess, the partnership positions the project as a frontrunner in the blockchain space, influencing market sentiments toward similar initiatives. Additionally, the integration of Google Cloud’s infrastructure and AI capabilities into Fantom’s ecosystem may attract institutional investment, fostering overall market growth. While the announcement may drive up demand for FTM tokens and fuel optimism among investors, caution is advised given the inherent volatility of the cryptocurrency market.
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