Blockchain video streaming network Theta Labs announced today that Google Cloud has joined its Enterprise Validator Program (EVP). Interestingly, this partnership coincides with the release of Theta Mainnet 2.0 scheduled for today as well.
According to him ad, the technology giant has become the newest member of Theta's Business Validator Program. Therefore, Google Cloud has teamed up with companies like Blockchain Ventures, and the leading cryptocurrency exchange by volume and users – Binance.
Theta's EVP enables companies to validate transactions according to the company's underlying consensus protocol. In today's statement, the blockchain firm said that Google Cloud is now the "preferred cloud provider."
Theta users will have the ability to deploy and run nodes directly from the Google Cloud Marketplace (GCP Marketplace), which is already live.
By joining the program, the technology giant will provide "the stability, reliability and security that Google Cloud Platform offers to Theta Network." This will result in a "decentralized, high-performance micropayment network that scales to millions of simultaneous video reviews," the announcement explains.
“Distributed accounting technology enables new business models that potentially transform the global digital economy, including the media and entertainment industry. We are impressed by Theta's accomplishments in delivering blockchain video and data.
We look forward to participating as a business validator and providing Google Cloud infrastructure to support Theta's long-term mission and future growth, ”said Allen Day, developer advocate for Google Cloud.
Mainnet 2.0 and token prices
In addition to partnering with Google Cloud, the blockchain company also emphasized its upcoming Mainnet 2.0 release. Updating the network will provide several technical improvements.
Binance also noted that it will support the release of Theta Mainnet 2.0. The popular exchange then added that its futures platform will integrate the perpetual THETA / USDT contract with leverage of up to 50 times.
THETA and the other native cryptocurrency, TFUEL, have suffered noticeable fluctuations lately. THETA emerged a few days ago after the company revealed more information about the network update. Similarly, news of association with Google Cloud was followed by a jump from $ 0.43 to $ 0.58 in a matter of hours. Since then, however, THETA has retreated sharply to $ 0.45.
TFUEL was less volatile today with an increase from $ 0.014 to $ 0.016 before returning to the initial level. However, TFUEL has recorded impressive gains in the last month of over 600%.