PancakeSwap Partners with Google Cloud to Enhance Infrastructure and Altcoin Price Surges

10:19 pm
July 10, 2023
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PancakeSwap, a decentralized trading platform, has announced a partnership with Google Cloud to enhance the availability and reliability of its infrastructure. This collaboration comes as the demand for decentralized finance (DeFi) continues to grow, with PancakeSwap aiming to provide users with a user-friendly platform for trading assets without intermediaries.

PancakeSwap and Google Cloud Collaboration

PancakeSwap is leveraging the Google Kubernetes Engine to scale its nodes rapidly and accurately predict traffic spikes, using Dysnix’s PreditKube solution. This collaboration allows PancakeSwap to efficiently manage a fluctuating number of requests and maintain a high uptime, ensuring the platform’s scalability.

Dysnix’s PreditKube solution has helped PancakeSwap accurately predict more than 90% of traffic spikes, enabling the automation of node scaling and reducing infrastructure costs by over 30%.

Ensuring the security of smart contracts is a critical challenge for any trading platform. PancakeSwap addresses this by working with various audit firms and leveraging Google Cloud Armor to filter sensitive data.

In addition to enhancing security, PancakeSwap aims to expand its services by adding more chains and exploring non-fungible tokens (NFTs). The platform plans to leverage Google Cloud’s BigQuery to manage and analyze historical blockchain data, simplifying complex data and making blockchain trading accessible to everyone.

The partnership with Google Cloud allows PancakeSwap’s engineers to focus on developing new features and improving the user experience, instead of dealing with infrastructure issues. Chef Jojo, Technical Lead at PancakeSwap, expressed his satisfaction with the collaboration, highlighting the platform’s ability to quickly scale up to meet high demand.

Google Cloud Boosts CAKE Token Value

PancakeSwap’s native token, CAKE, has experienced a 3.9% increase in value within the last 24 hours following the announcement of its partnership with Google Cloud. The partnership has provided the necessary momentum for CAKE to break out of a range-bound period and continue its upward trend.

However, CAKE is currently facing significant resistance at $1.525, which has not been surpassed since July 6th. Despite this, the partnership with Google Cloud has positively impacted the token’s value.

According to data from Token Terminal, PancakeSwap’s revenue for the past 30 days has decreased by 31.55%, while its annualized revenue has decreased by 39.79%. The platform’s total value locked (TVL) has also declined by 4.73% in the past 24 hours, but its trading volume (annualized) remains at $48.50 billion.

With the partnership with Google Cloud, PancakeSwap aims to continue expanding its services and improving its infrastructure to meet the growing demand for decentralized finance.

FAQs

What is PancakeSwap?

PancakeSwap is a decentralized trading platform that operates on the Binance Smart Chain. It allows users to trade cryptocurrencies and provide liquidity for various tokens, earning rewards in the process.

What is Google Cloud?

Google Cloud is a suite of cloud computing services provided by Google. It offers various tools and infrastructure for businesses to develop, deploy, and manage their applications and services.

What is the CAKE token?

The CAKE token is the native cryptocurrency of the PancakeSwap platform. It can be used for various functions within the platform, such as staking, governance, and fee payments.

What is decentralized finance (DeFi)?

Decentralized finance, or DeFi, refers to the use of blockchain technology and cryptocurrencies to recreate and improve traditional financial systems without the need for intermediaries like banks. DeFi platforms aim to provide financial services such as lending, borrowing, and trading through smart contracts and decentralized protocols.


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