NEAR Foundation Partners With Alibaba Cloud, NEAR Increases Over 15%

Key Points:

The NEAR Foundation is partnering with Alibaba Cloud to accelerate Web3 expansion in Asia and the Middle East.
The partnership will provide NEAR access to Alibaba Cloud’s developer ecosystem.
Customers can also utilize the NEAR BOS, a platform for developers to build onto and communicate with other users while leveraging Alibaba Cloud’s infrastructure.

According to a CoinDesk report, the NEAR Foundation, the non-profit overseeing the NEAR protocol’s ecosystem development, is partnering with Alibaba Cloud, the Chinese tech giant’s computing and storage arm, to accelerate Web3 expansion in Asia and the Middle East.

The collaboration gives the NEAR Foundation access to Alibaba Cloud’s developer ecosystem across Asia and the Middle East, with the goal of attracting additional developers to build on the NEAR protocol.

According to a news release, the NEAR Foundation and Alibaba Cloud will provide remote procedure calls (RPC) as a service to developers and consumers in the NEAR ecosystem.

RPC is a form of a computer server that lets users read data from blockchains and transmit transactions to other networks. It will also enable multi-chain indexing to developers in order to provide data query API. Developers that wish to create new NEAR validators may use Alibaba Cloud’s “plug-and-play” infrastructure as a service.

Raymond Xiao, Alibaba Cloud Intelligence’s head of international Web3 solutions, stated:

“The NEAR Foundation and Alibaba Cloud partnership is an important one as we continue to support Web3 developers to explore opportunities.”

Customers will also be able to utilize the NEAR Blockchain Operating System (BOS), a platform that Alibaba Cloud introduced earlier this year that enables developers to build onto and communicate with other users while leveraging Alibaba Cloud’s infrastructure.

This follows the announcement of Alibaba’s new Chairman, Joseph Tsai, who has been an active Web3 investor and has inked many partnerships with crypto-related companies.

Following this announcement, the NEAR price had a spike of more than 15% today.

NEAR price chart. Source: TradingView

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.