Google announced yesterday via an official statement that it has joined the Hedera Hashgraph Governing Council. In addition to operating Hedera network nodes, Google will contribute to strategic planning and ensure protocol stability. Following the news, HBAR (Hedera's native token) surged by nearly 140%.
Longstanding Cloud Partnership
Hedera Hashgraph is an enterprise-grade distributed ledger platform that uses a hashgraph consensus mechanism for high-throughput transactions. According to Google’s February 11 announcement, Hedera has relied on Google Cloud Platform’s (GCP) premium-tier network infrastructure for low-latency global connectivity since its launch. This collaboration enables developers to build high-performance decentralized applications (DApps) on Hedera.
The partnership deepened recently, with Google Cloud becoming Hedera’s preferred provider for testnet and consensus services.
Why Did Google Join Hedera’s Council?
Google Cloud will now operate a Hedera network node and participate in governance decisions alongside other council members like Boeing, IBM, Deutsche Telekom, and Tata Communications. The council oversees network reliability and strategic direction.
Google’s motivation aligns with its broader cloud dominance strategy:
- Data Integration: Leveraging distributed ledger data for analytics via BigQuery and combining it with other public datasets on Google Cloud.
- Developer Appeal: Positioning Google Cloud as the go-to choice for DApp companies through enhanced blockchain integrations (e.g., Chainlink’s oracle plugin added in 2019).
Market Impact
HBAR’s price surged nearly 140% post-announcement, reflecting strong market confidence in the collaboration.
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FAQs
What is Hedera Hashgraph’s role in enterprise blockchain?
Hedera provides a high-speed, low-fee distributed ledger optimized for enterprise use cases like supply chain tracking and micropayments.
How does Google Cloud support Hedera?
Google Cloud supplies the network infrastructure and will now run validator nodes to secure the network.
Why did HBAR’s price spike?
Google’s endorsement signaled institutional confidence, driving speculative and long-term investment interest.
What are the risks of investing in HBAR?
Cryptocurrencies are volatile. Always conduct independent research and invest only what you can afford to lose.
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