Fantom Foundation Forges Strategic Partnership with Google Cloud to Support Future Development of Fantom's Ecosystem

Fantom dApps to leverage Google Cloud's secure and scalable infrastructure and services
to expand network capabilities and grow ecosystem

GEORGE TOWN, Cayman Islands, May 28, 2024 /PRNewswire/ -- The Fantom Foundation ("the Foundation"), the team supporting the development of the Fantom blockchain, today announced that it has entered into a strategic partnership with Google Cloud to launch a series of initiatives incentivizing and empowering developers to build the next generation of decentralized applications (dApps) on Fantom.

As part of the partnership, Fantom will use Google Cloud's secure, scalable and resilient infrastructure as well as its AI capabilities to help Fantom developers build smarter, safer products that engage users in more meaningful ways. Additionally, Google Cloud will help scale and secure Fantom's Opera network initially by operating a validator, and intends to migrate this validator to the new Sonic network.

Michael Kong, CEO of the Fantom Foundation, commented, "We always prioritize taking a developer-first approach, and this latest collaboration is the most recent demonstration of courting all resources to enhance the ecosystem experience. By partnering with Google Cloud, Fantom developers gain access to additional resources and capabilities with more to come soon. With Google Cloud, Fantom is prepared to set a new paradigm for the capabilities and features of blockchain technology."

The partnership with Google Cloud is a step toward a significant transformation for Fantom, which recently announced its intention to launch a new high-throughput chain, Sonic, and introduce the Sonic Foundation, which will be responsible for the networks' governance and treasury management functions, as well as Sonic Labs, which will drive growth among dApps, partnerships, and users. It also builds on Fantom's existing relationship with Google Cloud, which includes Google Cloud indexing Fantom blockchain data in BigQuery as part of its public datasets program.

"Google Cloud is committed to scaling the Web3 ecosystem by empowering founders, enterprises, and developers with secure infrastructure and cutting-edge AI," said Rishi Ramchandani , Head of Web3 APAC. "Our expanded relationship with Fantom, which includes becoming a validator on its network, builds on this mission as we help enable its developers to build more engaging and meaningful applications." 

The two parties will also enable the next wave of dApps to fuel innovation and ecosystem growth. Once the new Sonic network launches, Google Cloud will support Fantom dApps transitioning to the new Sonic network by offering credits of up to $200K to each partner over two years to startups that receive funding from the Foundation through Google Cloud's Web3 Startup Program. dApps building on Fantom will also be able to connect with Google Cloud's subject matter experts in AI, Web3, gaming, security, data and infrastructure to accelerate dApp development.

To enhance the security of infrastructure managed by the Fantom Foundation, Fantom will also implement a multi-layered threat defense system by adopting Google Cloud's AI-driven threat detection and robust vulnerability management, Security Command Center, coupled with a shared-fate responsibility model to ensure collaborative protection against cyber threats. Additionally, the teams will collaborate on promoting Fantom's bug bounty program to incentivize white-hat hackers to identify potential bugs.

About The Fantom Foundation
The Fantom Foundation is dedicated to growing and supporting the Fantom ecosystem and its technology. Our worldwide team is made up of engineers, scientists, researchers, designers, marketers, and entrepreneurs who share the same vision to advance the industry forward.

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SOURCE Fantom Foundation