EOS Price Gained 17% As Google Cloud Joins The Blockchain Community


According to Block.One, Google Cloud could become the next EOS BP. In response to the news, the EOS Token goes up 17%.

The software developer and EOS Block.one announced the news that Google Cloud has joined the community through a blog post published earlier today, on October 6th.

According to the announcement, in addition to joining the network, Google Cloud also intends to become a BP in the chain.

The decision to allow Google Cloud to become a BP will be put to a vote among token holders. Currently, 21 BPs form the central part of the EOS network. In addition, joining the public blockchain platform will mean that the technology giant will bring its premium infrastructure that would benefit the EOS network.

The latest development highlights the growing confluence of blockchain and the broader technological landscape. Block.one CEO. Brendan Blumer said that "EOS is a powerful solution for those who want to leverage the decentralized ecosystem with ease".

Commenting on the development, Block.one CTO Dan Larimer commented:

"Through secure oracles, chain transaction reports, key management and complete high integrity node validation, Google Cloud's sensitive computing infrastructure will increase the security, scalability and decentralization of blockchain technology."

In another development, Block.one announced the appointment of Wall Street veteran Martin Chavez to head the company's advisory board. Chavez, who has held several high-level executive positions at banking giant Goldman Sachs, will help promote the global adoption of blockchain technology.

As reported by CryptoPotato in 2019, the U.S. Securities and Exchange Commission (SEC) fined a $ 24 million fine on Block.one. According to the SEC, the creator of EOS conducted an initial unregistered coin offering (ICO) that raised $ 4 billion.

In June 2020, the software company announced the development of a blockchain-powered social media platform called Voice. The new app was supposed to give control back to users and offer transparency and was scheduled to launch on July 4, 2020.

Green Day for eOS despite the general decline in cryptocurrency prices

Amid news that Google Cloud has become a BP, the price of EOS has risen sharply, rising more than 17% in less than two hours. As of now, EOS is trading for $ 2.67 and a market cap of $ 2.5 billion, after reaching almost $ 2.90 at today's high.

Tuesday's price jump makes EOS the top-20 top-performing altcoin token in the last 24-hour trading period. The 14th largest cryptocurrency by market capitalization also increased 7.8% over the previous year (YTD), as of the writing of these lines.

Although EOS made significant gains probably due to the Google Cloud announcement, the broader cryptocurrency market experienced a pullback. As of press time, the total capitalization of the cryptocurrency market has dropped by more than 2%.

Reports that U.S. President Donald Trump has decided against the second round of covid-19 stimulus payments are causing a new wave of sales in the asset market. A few minutes after President Trump tweeted about his decision, the Dow plunged 300 points.

source: cryptopotato.com

Google joins EOS community


Google, the world's most powerful search engine, through its cloud services has just joined the EOS blockchain community with the intention of becoming a block producer.

Block.one, a developer of the blockchain protocol EOSIO recently reported that it was partnering with Google Cloud, a global provider of cloud and hyperscale infrastructures.

The EOS network is built on the blockchain protocol EOSIO, and created by BlockOne.

Block producers are a central component of the EOS network, so attracting a block producer candidate of the Google Cloud caliber marks a milestone for the network.

What we know

At the time of writing, the EOS price was negotiated at $2.68 with a 24-hour trading volume of $3 billion.

  • The price of EOS has risen 6.5% in the past 24 hours. It has a circulating supply of 950 million coins and a maximum supply of ∞ coins.
  • As one of the world leaders in technological innovation, Google Cloud's planned participation underlines the importance of blockchain for the future of business, government and society.

"We’re starting the process of becoming candidates for block producers. As organizations begin to incorporate distributed accounting technology into their infrastructures, we are committed to ensuring that information about public blockchains is stored in a secure, reliable and meaningful way."

said Allen Day, developer’s attorney, Google Cloud

Google Cloud will take advantage of its best-in-class infrastructure, which allows for stability, reliability, security and an extensive global network coverage architecture, a great fit for public blockchain networks like EOS.

"Google Cloud will continue to provide its highly provisioned, low-latency infrastructure to Block.one, through secure oracles, inter-chain transaction reports, key management and high-integrity integral node validation, Google Cloud's confidential computing infrastructure will increase the security, scalability and decentralization of blockchain technology."

said Dan Larimer, CTO at Block.one.

source: nairametrics.com