Google joins Hedera Hashgraph Governing Council, HBAR surges nearly 140%

Google announced yesterday that it has joined the Hedera Hashgraph Governing Council. In addition to running Hedera Hashgraph nodes in the future, Google will also be responsible for strategic planning for the Hedera network, and will work to ensure the stability and reliability of the network protocols and operating systems. Following the announcement, HBAR saw a peak increase of nearly 140%.

Long-Term User of Cloud Services

Hedera Hashgraph is an enterprise-grade distributed ledger project. Strictly speaking, Hedera is not a blockchain but a high-throughput distributed system implemented using a hashgraph consensus mechanism. According to an official announcement by Google on February 11th, Hedera has been utilizing the Google Cloud Platform (GCP) premium network layer (a highly configured, low-latency global fiber network) since its launch to ensure the stability and reliability of its network, enabling developers to build high-throughput, low-latency decentralized applications (Dapps) on Hedera.Official announcement stated that Hedera has been using Google Cloud Platform (GCP) premium network layer (a highly configured, low-latency global fiber network) since its launch to ensure the stability and reliability of its network, enabling developers to build high-throughput, low-latency decentralized applications (Dapps).

Now, Hedera has further strengthened its cooperation by using Google Cloud as its testnet and cloud service provider for the Hedera consensus service ecosystem.

Why Did Google Join the Hedera Governing Council?

After a long-standing close collaboration, Google announced yesterday that it officially joined the Hedera Governing Council. Google Cloud will operate a Hedera network node responsible for strategic planning of the Hedera network and ensuring the stability and reliability of the network protocols and operating systems.

The Hedera Governing Council includes many well-known large enterprises such as Boeing, IBM, Deutsche Telekom, and Tata Communications. The Council's responsibility is to lead network decisions and ensure its ongoing reliability.

As for Google's motivation to join the council? It is related to maintaining its position as a data giant and capturing the cloud services market. Google stated that it will utilize distributed ledger data for analysis and integrate with other public distributed ledger data on Google Cloud, making it the preferred choice for distributed ledger networks and Dapp companies when choosing cloud services.

Google Cloud has been quite active in the blockchain field. In June 2019, Google integrated Chainlink's Oracle plugin on its platform, allowing developers to interact with Ethereum smart contracts using Google Cloud.

After Google announced its membership in the Hedera Hashgraph Governing Council, it had a significant impact on the price of its token HBAR, with an increase of nearly 140% at the time of writing.