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Blog

Date:
08th Oct 2020
Author:
CryptoAltum Research Team

Google Cloud Becomes a Block Producer Candidate in the EOS Blockchain

Google Cloud is the first Silicon Valley company seeking to be one of the 21 Block Producers in the EOSIO mainnet as per reports on Oct 6. Moreover, following the announcement, Google Cloud will now work with Block One--the creators of the EOSIO blockchain, enabling its developers to build applications on the EOS network.


Details: 

The blockchain--under the guidance of Dan Larimer, raised over $4 billion in a year-long ICO. The network employs a semi-decentralized architecture where 21 nodes confirm transactions and secure the network. These nodes, or block producers, are core and are continuously voted by the community. At the moment, dominant Block Producers are exchanges like Binance. However, there have been accusations of vote bribery to prevent independent, non-exchange entities from being Candidates. The entry of Google Cloud is a boost and will help loosen the grip from cryptocurrency exchanges.


Impact on the EOS price: 

Bullish. The coin is one of the top performers in the last day of trading, gaining versus the USD and concurrently outperforming ETH and BTC.


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