Hedera Hashgraph (HBAR) Soars By 100% To Reach ATH Following Google Deal

By John Kiguru
February 12, 2020 Updated February 12, 2020
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Hedera Hashgraph has soared exponentially in the last 24 hours. The digital asset has risen by more than 100% to reach an all-time high. This comes following a partnership deal with Google. The deal sees Google join the project’s governance council.

Hedera Chooses Google

Hedera has chosen Google as its cloud provider to deploy its public networks. This is a decision that has been welcomed by its users and Google as well who hailed the move in a post. Hedera will benefit from using Google as they will host the project’s public testnets and Hedera Consensus Service ecosystem. Google will offer wide geographical coverage and great infrastructure to grow the project.

Part of the service to be provided by Google cloud will be to provide Hedera ledger data on its cloud datasets. This will include blockchain data from Bitcoin and Ethereum.

This decision has also seen another critical and strategic partnership between the two come out of it.

Google, above being the preferred cloud provider will be joining Hedera’s council of governors. The Hedera Governing Council already comprises of leading companies such as Boeing, IBM, Deutsche, and Telekom. The addition of Google will lead to more strategic deals and growth of the project.

Hedera is a new project with a new approach to that of traditional blockchains. On top of being backed by enterprises, its consensus algorithm allows for multiple branches of blocks, unlike traditional blocks that use a single chain. By doing so, this improves performance bringing transactions per second to ten thousand.

HBAR Price Surge

Following the news, its tokens have rocketed from $0.029 to reach $0.058283 at the time of writing this. This has also seen the market cap grow to $184,410,022 which sees the coin climb to 46th in the ranking.

The latest gains take HBAR to a total return of over 600% in the last month, having started under $0.01.

The price is likely to retrace over the next few days as is with dramatic surges. However, there is a great prospect with the project and analysts predict that the upward trajectory will continue in the coming weeks.

John is an outstanding writer with a great love for cryptocurrency and its underlining technology. Kiguru is an astute believer in cryptocurrency and blockchain technology and looks up to exploring digital innovation. Follow him on Twitter @Shawn254Guru
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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