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Kalkine Media ASX Share Market News & Research

Google Cloud partnership ends PancakeSwap (CAKE) bear market

July 11, 2023 02:19 PM IST | By Invezz
Google Cloud partnership ends PancakeSwap (CAKE) bear market
Image source: Invezz

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The price PancakeSwap (CAKE), has surged in the last 24 hours following a partnership between PancakeSwap and Alphabet Inc’s (NASDAQ: GOOGL) Google Cloud.

The partnership is aimed at ensuring the availability and reliability of the infrastructure of the decentralized exchange platform. PancakeSwap aims to offer its users a user-friendly platform to trade their assets without intermediaries following the growing demand for decentralized finance (DeFi).

PancakeSwap to leverage Google Kubernetes Engine

With the partnership, PancakeSwap will leverage Google Kubernetes Engine to quickly scale its nodes and accurately predict traffic spikes with the help of the PreditKube solution from Dysnix.

PancakeSwap was able to maintain a 99.99% uptime while only using Dysnix’s PreditKube solution to predict traffic peaks which also automated the up-and-down scaling of blockchain nodes in advance to handle the expected traffic surge. It also cut its infrastructure costs by more than 30% by automating the scaling up and down of nodes.

However, making sure that smart contracts are secure is one of the biggest challenges for any trading platform. PancakeSwap wants to use Cloud Armor to filter sensitive data and collaborates with numerous audit companies to find any potential flaws.

Additionally, PancakeSwap intends to use BigQuery to manage and examine historical blockchain data in order to enhance users’ trading experiences.

With Google Cloud’s fully managed services, PancakeSwap’s engineers will be able to focus on developing new features for the platform and improving the user experience instead of wasting a lot of time dealing with infrastructure issues.

PancakeSwap (CAKE) price

The news of the Google Cloud partnership caused a significant CAKE price movement and brought the week-long bear market to a halt.

PancakeSwap (CAKE) price chart. Source: Coinmarketcap

Going by the impact the partnership is expected to have on the efficiency of the PancakeSwap decentralized exchange platform, the price of PancakeSwap (CAKE) could maintain a bullish trend for the next couple of days.

The post Google Cloud partnership ends PancakeSwap (CAKE) bear market appeared first on Invezz.

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