Alibaba Cloud’s infrastructure services in Asia will be powered by Avalanche.

by Dec 5, 2022CryptoNews0 comments

The collaboration between Avalanche and Alibaba Cloud will result in the creation of tools that will allow users to build validator nodes on Avalanche’s public blockchain platform in Asia.

Alibaba Cloud, or Aliyun, a subsidiary of China’s e-commerce behemoth Alibaba, has announced a partnership with Avalanche blockchain to support the company’s Node-as-a-Service activities.

The collaboration between Avalanche and Alibaba Cloud will result in the creation of tools that will allow users to build validator nodes on Avalanche’s public blockchain platform in Asia. The connection will enable Avalanche developers to create new validators using Alibaba Cloud’s plug-and-play infrastructure as a service.

Developers that anticipate significant resource demands during peak hours can also use the computing, storage, and distribution facilities provided by Alibaba Cloud.

Avalanche hosts over 1,200 validators and handles around 2 million daily transactions, according to the statement. The cooperation is huge in scope, given that Alibaba Cloud is the largest Asian cloud service provider in the Asia-Pacific area.

Alibaba Cloud sponsored a special campaign as part of the integration, granting Avalanche developers credit against any of their services. Avalanche presently powers over 1,000 applications, including DeFi ecosystems like Aave, Curve, BENQi, Sushi, and Chainlink.

Bo Shen, a general partner at Vitalik Buterin-advised venture capital company Fenbushi Capital, claimed to have lost $42 million in his Trust Wallet.

See also  Binance returns to Japan with a new regulated subsidiary

Shen confirmed that the drained money was his and had nothing to do with 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.”

SlowMist, a blockchain analytics firm, later confirmed Shen’s loss of funds while confirming no security issues on Trust Wallet’s end.

Recent News

Recent Posts

Disclaimer: The information provided on this website is for informational purposes only. We strive to ensure the accuracy and reliability of the content, but we make no representations or warranties of any kind, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information. The use of this website is solely at your own risk.
We do not endorse or promote any specific cryptocurrencies, projects, exchanges, or investments mentioned on this website. The inclusion of any external links does not imply endorsement or recommendation.
Please note that the cryptocurrency market is highly volatile and involves substantial risks. You should carefully consider your own financial situation and risk tolerance before engaging in any cryptocurrency-related activities.

Related Post

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *