NEAR Foundation Partners with Alibaba Cloud: Details
- NEAR Foundation has partnered with Alibaba Cloud, and the two will work to promote the development of Web3.
- NEAR Foundation will be able to access Alibaba Cloud’s developer ecosystem across Asia and the Middle East.
- The partnership will allow the developers to use remote procedure calls (RPC) as a service.
- Developers will also have access to a platform called the NEAR Blockchain Operating System (BOS).
The NEAR Foundation, the non-profit entity responsible for the development of the NEAR protocol, a layer 1 blockchain that runs a community-driven cloud computing platform, has announced its partnership with Alibaba Cloud, one of the world’s largest cloud computing companies. The goal of the partnership is to promote the accelerated development and adoption of the Web3 industry in Asia and the Middle East.
As per a report from the crypto-focused media outlet, CoinDesk, which is a subsidiary of troubled crypto firm, Digital Currency Group, NEAR Foundation will be able to access Alibaba Cloud’s developer ecosystem across Asia and the Middle East. As a result, the non-profit entity will be able to onboard more developers for the development of the layer 1 blockchain.
According to the report, the announcement from Alibaba Cloud on Monday confirmed that the developers that aim to launch new validators on the NEAR blockchain will be able to utilize Alibaba Cloud’s “plug-and-play” infrastructure as a service.
“The NEAR Foundation and Alibaba Cloud partnership is an important one as we continue to support Web developers to explore opportunities,” said the head of international Web3 solutions at Alibaba Cloud intelligence, Raymond Xiao, while adding:
“It is also significant for developers and validators in the Asian markets, as they can leverage Alibaba Cloud’s comprehensive infrastructure in Asia.”
The partnership will allow the developers to use remote procedure calls (RPC) as a service. This will allow developers to read data on the layer 1 blockchain and send transactions to different networks. Moreover, developers will also have access to a platform called the NEAR Blockchain Operating System (BOS), which debuted earlier this year.
The BOS platform will allow developers to interact with other users while leveraging the services provided by Alibaba Cloud. More importantly, following the announcement, the price of the native token of the layer 1 blockchain, NEAR, went up by more than 6% and currently stands at $1.56.
As reported earlier by BitcoinWisdom, Alibaba Cloud recently revealed plans to deploy a metaverse on layer 1 of the Avalanche (AVAX) blockchain. The two entities worked together to debut a launchpad called “Cloudverse.”
Furthermore, the Chinese e-commerce behemoth Alibaba Group also onboarded Joe Tsai, the soon-to-be former executive vice chair, as its new Chair. The current Chair and CEO, Daniel Zhang, will be resigning on September 10. Interestingly, Tsai has been involved in investments in crypto firms via Blue Pool Capital, a Hong Kong-based firm.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
