To make blockchain trading mainstream is to make it simple. And PancakeSwap may be able to achieve that goal with Google Cloud integration. The new collaboration ensures platform availability, scalability, cost efficiency, and security, while also focusing on improving the overall user experience.
PancakeSwap and Google Cloud Team up
PancakeSwap, a major decentralized trading platform, has partnered with tech giant Google Cloud to enable 24/7 platform availability, ensuring seamless and secure trading experiences for users across the globe. The announcement was made official on the Google Cloud website on July 10.
The strategic move has made PancakeSwap one of the top leading customers of Google Cloud. Some of the high-profile figures in the crypto industry teaming up with the tech giant are Nansen, Blockchain.com, CoinGecko, and eToroX.
Leveraging Google Cloud’s robust infrastructure, PancakeSwap guarantees uninterrupted trading by implementing load-balancing techniques and scalable resources. Users can effortlessly connect to BNB endpoints at all times and engage in seamless transactions.
Scalability and cost efficiency have also been major focus areas, according to Chef Jojo – technical lead at PancakeSwap.
Through the collaboration, PancakeSwap has harnessed the power of predictive analytics provided by Google Cloud. This cutting-edge technology accurately predicts traffic surges, resulting in impressive cost savings of over 30% and reducing peak response time by a staggering 62.5 times.
PancakeSwap’s ability to seamlessly handle high volumes of trading activity has significantly contributed to its success.
Chef Jojo also highlighted the utmost importance of security in the trading environment. The exchange’s approach to this top priority is through collaboration with renowned audit firms. This way ensures smart contracts are reviewed thoroughly to eliminate any potential vulnerabilities.
Additionally, the implementation of Google Cloud’s Cloud Armor ensures sensitive data is meticulously filtered, further enhancing the platform’s security measures. PancakeSwap is committed to delivering a user-friendly DeFi application accessible to both seasoned traders and newcomers.
Is The Cloud Better?
By leveraging Google Cloud’s fully managed services, the team can focus on developing new features and continuously improving the platform’s usability. This approach is expected to bring faster response times and more reliable service for users; as a result, their overall trading experience is improved.
Furthermore, PancakeSwap aims to expand its services by supporting additional chains and exploring the realm of non-fungible tokens (NFTs). With Google Cloud’s powerful infrastructure as the backbone,
PancakeSwap is poised to take the DeFi world by storm. The integration of Google Cloud’s BigQuery to manage and analyze blockchain historical data will simplify information and provide users with valuable insights.
“We want to make it as simple as possible to trade so that everyone can participate in blockchain trading. With Google Cloud, we can leave the infrastructure-heavy lifting and focus on improving our platform, and the way people transact,” Chef Jojo concluded.
Should DeFi Join a Big Cloud Provider?
The DeFi space is experiencing rapid growth, with new projects emerging to bridge the gap between decentralized finance and traditional finance. Following several incidents involving centralized entities, there has been a surge in interest in DeFi.
However, there are significant challenges that need to be addressed for widespread adoption and success.
One of the primary challenges is the complexity and instability of the DeFi ecosystem. The intricate nature of DeFi protocols and platforms can be overwhelming for backers and users alike. Additionally, the volatility within the DeFi space poses risks and uncertainties that can deter potential participants.
Collaborations like the partnership between PancakeSwap and Google Cloud could pave the way for wider adoption and brings decentralized finance closer to mainstream acceptance.
The only drawback that many are concerned about is, however, whether DeFi should join big cloud providers.
Web3 aims to create a more equitable and distributed internet and the involvement of centralized cloud infrastructure could introduce a level of centralization that contradicts the principles of decentralization.