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.
— Hedera Hashgraph (@hashgraph) February 11, 2020
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.
$HBAR – DId I say 380% gains?
I meant to say over 600% in one month…. this is getting ridiculous
— Josh Rager ? (@Josh_Rager) February 12, 2020
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.