Cloud computing services, Google Cloud, has officially become an EOS network block producer, a blockchain-focused company Block.one has reported.
According to the company's announcement, Google Cloud will use the EOS network’s performance and open-source community as it works to become a block producer.
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Google Cloud Developer Advocate, Allen Day, says that Google is committed to ensuring that the information on public blockchains is "securely stored, reliably available, and can be accessed in meaningful ways."
However, token hodlers should first select Google Cloud to secure a position as a block producer candidate on the EOS network. Google Cloud will reportedly roll out a new website that will highlight their participation in EOS’s network operation as an elected block producer.
The EOS token has gained over 8.5% and is trading at $2.73 amid the announcement.
iHodl earlier reported that Block.one faced a class action lawsuit related to the ICO of the EOS token.
Crypto Assets Opportunity Fund LLC and Johnny Hong filed a class action lawsuit against Block.one in the US District Court for the Southern District of New York.
According to the lawsuit documents, the company allegedly provided investors in the EOS token with false and misleading information about it in order to raise a large amount of money through an allegedly unregistered securities' sale.
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