Tezos (XTZ) Rallies After Reveal of Partnership With Tech Giant Google

Smart contract platform Tezos (XTZ) is running up on news that the project has formed a partnership with tech giant Google.

A new press release reveals that Google Cloud will be a validator on the Tezos network, and that Tezos will be helping Google Cloud’s corporate customers deploy Tezos nodes to support Web3 innovation on its blockchain.

In the new program, Tezos aims to provide Google Cloud customers who want to build Web3 applications with easy deployment of nodes and indexers on Tezos and make it easier for companies and developers to host and deploy nodes.

James Tromans, Engineering Director, Web3 at Google Cloud, said,

“At Google Cloud, we’re providing secure and reliable infrastructure for Web3 founders and developers to innovate and scale their applications… We look forward to bringing the dependability and scalability of Google Cloud to power Web3 applications on Tezos.”

Says Mason Edwards, chief commercial officer at the Tezos Foundation,

“To achieve institutional adoption and mass-market opportunities, technology that’s reliable, scalable, and secure is essential. We see exciting synergies in working with Google Cloud, and look forward to accelerating development and innovation on the Tezos blockchain together.”

Edwards also told TechCrunch that the deal with Google Cloud will allow Tezos to “onboard institutions and even more massive institutions into this space.”

Following the announcement, XTZ, Tezos’ native token, spiked 14% from $1.19 to $1.36 in a matter of hours. At time of writing, XTZ is trading at $1.29 with a market cap of $1.1 billion.

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Featured Image: Shutterstock/S.Gvozd

Source: https://dailyhodl.com/2023/02/22/tezos-xtz-rallies-after-reveal-of-partnership-with-tech-giant-google/