Google Cloud integrates new blockchain, but cryptocurrency continues to fall

Google Cloud recently launched integration with yet another blockchain, Flare, which promises to build a Web 3.0 ecosystem for developers.

However, what attracted attention is the fact that the crypto community paid no attention to the project, which was launched in early 2023.

This is because since January, the price of Flare is down 80%, from $0.15 to the current $0.029. In the past seven days, the FLR cryptocurrency has lost 8% in value while ignoring the fact that it is one of the new entrants to the Google Cloud ecosystem.

Google Cloud has already integrated 16 Blockchain APIs for developers

With the new listing of Flare on April 27, 2023, Google Cloud reached the number of 16 blockchain APIs configured in its cloud solution.

Google Cloud is a public cloud platform, meaning users can access it over the internet and pay only for the resources they use, making it scalable and cost-effective. The platform also offers features that help businesses manage their IT infrastructure and ensure regulatory compliance and security.

Google Cloud’s Web3 API calls now connect to blockchains: Algorand, Bitcoin, BNB Smart Chain, Coston, Coston Explorer, Coston2, Coston2 Explorer, Coston2 Rosetta, Dogecoin, Ethereum, Flare, Flare Explorer, Flare Rosetta, Litecoin, Songbird , Songbird Explorer, XRPL.

That is, even with new options for integrating the Flare cryptocurrency into Google Cloud, the market continues to watch the project with caution as the price falls.

Google Cloud Web 3.0 integrations are putting competitors under pressure

It is worth remembering that the cryptocurrency and blockchain market, previously marginalized and associated with cybercrime, has now evolved into an environment of great technological development. Large companies can no longer ignore the presence of technology, which has already been widely adopted by countries.

In Brazil, for example, there are several projects involving public and private blockchains. A highlighted case today is Real digital, Brazilian CBDC using a private blockchain compatible with Ethereum Virtual Machine.

But with the new Google Cloud integrations involving the so-called Web3, the solution’s competitors are starting to feel pressured by the evolution of the tool.

In the cloud computing market, for example, Amazon Web Services (AWS), Microsoft Azure, IBM Cloud, Oracle Cloud, and Alibaba Cloud are also closely monitoring the blockchain and cryptocurrency market.

Google’s cloud service offers a wide range of services, including data storage, data analytics, artificial intelligence, machine learning, and more. In addition, the platform supports multiple programming languages, frameworks, and development platforms, making it a popular choice for software developers and data engineers.

Source: Live Coins