- Google Cloud is set to join Fantom as a validator.
With Google Cloud, the Fantom Foundation has forged a strategic alliance to deliver fresh rewards for Fantom developers.
Announced on May 28, the agreement aims to encourage developers to create decentralized applications on Fantom by giving them access to Google Cloud’s infrastructure and “AI capabilities.”
Along with joining Fantom as a validator for its Opera mainnet, Google Cloud will eventually migrate to Fantom’s soon-to-be-launched Sonic network.
Additionally, Google Cloud will give Fantom dApps financed by the Fantom Foundation that switch to Sonic $200,000 in credits spread over two years.
Michael Kong, CEO of the Fantom Foundation, stated that Fantom developers now have access to more tools and features thanks to their partnership with Google Cloud.
We always put the needs of our developers first, and this most recent partnership is the latest example of how we’re courting all available resources to improve the ecosystem experience.
The connection strengthens the current collaboration between Fantom and Google Cloud, which enables Fantom blockchain indexing through the use of Google Cloud’s BigQuery dataset. Fantom Foundation intends to enhance the security of its infrastructure by implementing Google Cloud’s artificial intelligence (AI) threat detection technology.
As stated by Rishi Ramchandani, Google’s head of web3 for the APAC region, “Google Cloud is committed to scaling the Web3 ecosystem by empowering founders, enterprises, and developers with secure infrastructure and cutting-edge AI.” This aim is furthered by our increased partnership with Fantom, which includes joining its network as a validator.
Sonic looms
The announcement is made as Fantom is set to introduce Sonic, a brand-new Layer 1 network.
With its proprietary Fantom Virtual Machine (FVM), Sonic hopes to improve upon the Ethereum Virtual Machine (EVM) that its current Opera mainnet is based on. The FVM will have compatibility with EVM.
Fantom revealed on May 23 that the Sonic Foundation and Sonic Labs organizations had been established to aid in the advancement and upkeep of the Sonic franchise.
Fantom recently announced the conclusion of a $10 million investment round headed by Hashed, in which prominent DeFi developers and angel investors, such as Michael Egorov (Curve), Robert Leshner (Compound), and Stani Kulechov (Aave), participated.
Even though Fantom’s governance has already approved the launch of Sonic with 99% of the vote, there is still much disagreement about some of the specifics of the rollout.
The intention to convert Fantom’s FTM token to the new S token, which would enable FTM holders to exchange their tokens for S at a one-to-one ratio, is one particularly contentious issue.
Plans to generate more S tokens to finance airdrops and other growth incentive schemes, which would dilute current token holders, are being resisted by a large portion of the community.
If the Fantom Foundation is already dedicating a large nine-figure amount from its own treasury toward this, why do we need [a Sonic Growth Program]? On Fantom’s governance forum, Michael Zhao posed a question.
Paintball26 continued, “It seems a little tone deaf to talk about having hundreds of millions of FTM earmarked and then asking for further dilution.”
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