PancakeSwap, the decentralized exchange designed for the trading of BEP-20 tokens, will implement Google Cloud services as part of its recent agreement with the technology and internet giant.
This agreement will allow PancakeSwap to maintain the availability of its platform to ensure users access to its services at all times without interruptions.
Through Google Cloud, Google offers an infrastructure that allows blockchains to scale their networks reliably and securely in order to meet the changing needs of their users. In the case of PancakeSwap, the Internet giant highlighted that the decentralized finance protocol will be able to enjoy a high level of scalability to support the demands of high traffic. According to data from the CoinGecko platform, PancakeSwap receives about 6,73 million visits per day and operates a trading volume of over $110 million dollars.
Google Cloud solutions will help PancakeSwap accurately predict spikes in traffic, resulting in over 30% cost savings and a 62,5x reduction in response time during times of high traffic and demand. They will also help strengthen the security of the decentralized protocol to provide users with the most reliable and stable trading environment possible.
Scalability and stability
On the partnership between Google and PancakeSwap, the technical lead of the protocol, known as Chef Jojo, Indian that the alliance allows it to guarantee that DEX users can always connect to the platform, in addition to guaranteeing its stability at all times.
Jojo also highlighted that PancakeSwap will leverage the potential of Google Cloud services to unlock a new DeFi era.
As part of the agreement, PancakeSwap has started using several of Google's solutions, such as Google Kubernetes Engine, Cloud Logging and Cloud Monitoring, in order to handle a large number of requests without any downtime. This allows the protocol to maintain 99,99% uptime and ensure faster operations, Jojo said.
Trading, NFTs and more
Although PancakeSwap started as a decentralized exchange (DEX) protocol where people can trade BEP-20 tokens, the protocol's developers and contributors are focused on offering new products to users to improve the trading experience when using the protocol.
According to Chef Jojo, the PancakeSwap development team is working on new solutions to expand its services, improving the protocol's interoperability to include more blockchains and exploring non-fungible tokens (NFTs), as well as integrating other areas of the crypto ecosystem to provide more options for users, he said.
CAKE gains 3,6% in the last hours
PancakeSwap’s CAKE token has gained 3,68% in price over the past 24 hours, trading at $1,51 per unit at press time.
Source: CoinMarketCap
According to CoinMarketCap data, CAKE trading volume also increased exponentially on Monday, surpassing $34 million in daily trading volume. This represents a 212% increase over the past 24 hours, according to the platform’s data.
Similarly, the rise in the price of CAKE has boosted its market capitalization to $315,2 million, reflecting a daily gain of approximately $20 million.
Continue reading: PancakeSwap V3 is implemented on the Ethereum and BNB Chain blockchains
