CRYPTO: Avalanche to power Alibaba Cloud’s infrastructure services in Asia

Avalanche to power Alibaba Cloud’s infrastructure services in Asia

Alibaba Cloud, a.k.a Aliyun, a subset of Chinese e-commerce giant Alibaba, announced an integration with Avalanche blockchain to power the company’s Node-as-a-Service initiatives. 

Avalanche’s partnership with Alibaba Cloud will see the development of tools that enable users to launch validator nodes on Avalanche’s public blockchain platform in Asia. The integration will allow Avalanche developers to use Alibaba Cloud’s plug-and-play infrastructure as a service to launch new validators.

Developers expecting high resource demands during peak hours can also tap into additional resources — computing, storage, and distribution — offered by Alibaba Cloud.

According to the announcement, Avalanche hosts over 1,200 validators and processes roughly 2 million daily transactions. The scale of the partnership is massive, considering that Alibaba Cloud stands as the largest Asian cloud service provider in the Asia-Pacific region.

See also  CRYPTO: Is Ripple poised to settle with SEC this week? Crypto Twitter weighs in
Steps to integrate Avalanche with Alibaba Cloud. Source: Alibaba Cloud 

As part of the integration, Alibaba Cloud ran a special promotion by offering Avalanche developers credit toward any of their services. Avalanche currently powers over 1,000 projects, including decentralized finance (DeFi) ecosystems such as Aave (AAVE), Curve, BENQi, Sushi, and Chainlink (LINK).

See also  CRYPTO: EU Council approves MiCA text, proposal moves to Parliament for a vote

Related: Alibaba to ban crypto miner sales amid Chinese crackdown

Chinese venture capitalist Bo Shen, a general partner of the Vitalik Buterin-advised venture capital fund Fenbushi Capital, claimed to have lost $42 million from his Trust Wallet.

See also  CRYPTO: Walmart CTO says crypto will become a 'major' payments disruptor

Shen confirmed that the drained funds belonged to him and was not related to Fenbushi Capital:

“The incident has been reported to the local law enforcement. FBI and lawyers both have been involved. Civilization and justice will eventually prevail over barbarism and evil. This is the iron law of human society. It’s just a matter of time.”

Blockchain analytics firm SlowMist later verified Shen’s loss of funds while confirming no security issues from Trust Wallet’s end.



Click Here To Drop Your Comment



READ ALSO

SIMILAR POS


No Comment Yet

Comments are closed.