Hedera Hashgraph Partners with Google Cloud for Enhanced Governance and Infrastructure

A Strategic Partnership Unveiled

Hedera Hashgraph has decided to level up its game by choosing Google Cloud Platform (GCP) as the go-to cloud provider for deploying its public networks. This partnership was highlighted in a blog post on February 11, where Google commended Hedera and announced that it is not just a spectator but actively participating in the project’s governance.

Hosting Advantages of Google Cloud

Through this collaboration, Hedera will leverage Google Cloud to host its public testnets and the Hedera Consensus Service ecosystem. This means that Hedera developers get to enjoy the perks of Google’s extensive geographical coverage and robust infrastructure, making developing and deploying processes smoother than ever. Talk about a power couple!

Understanding Hedera’s Unique Tech

Now, let’s get a little geeky. Hedera operates using distributed ledger technology and prefers a showcase of innovation with its hashgraph-based consensus algorithm. Unlike traditional blockchains that follow a single chain of transactions, Hedera allows for multiple branches. The performance is nothing short of impressive, boasting around 10,000 transactions per second!

Meet the Hedera Governing Council

This distributed ledger is governed by the Hedera Governing Council, made up of industry giants like Boeing, IBM, and Deutsche Telekom. The Council plays a crucial role in steering the network’s decision-making and ensuring that it remains reliable and trustworthy—think of it as the adult supervision for the technological playground.

Google Joins the Council

Google is no stranger to blockchain technology and has been using Google Cloud since Hedera’s inception. Now, with its formal endorsement and joining Hedera Council, it’s running a Hedera network node and providing access to its valuable ledger data, including block information from famous blockchains like Bitcoin and Ethereum. You have to admit, Google is getting increasingly cozy with Hedera!

The Market Response

As if this fascinating merger wasn’t enough, the financial markets took notice. Hedera’s token, HBAR, saw its value soar following the announcement, trading at around $0.0321—a massive 74% jump compared to the previous day’s price level, according to sources. Looks like the markets like this new partnership!