The cooperation will provide multi-chain indexing to give developers access to data-query API.
Alibaba Cloud, the computing and storage division of the massive Chinese IT company Alibaba, has joined forces with the NEAR Foundation, the nonprofit organization in charge of creating the NEAR protocol ecosystem. By utilizing the developer environment of Alibaba Cloud, the partnership seeks to hasten the establishment of Web3 (the decentralized web) throughout Asia and the Middle East.
The collaboration gives the NEAR Foundation access to the Middle Eastern and Asian developer ecosystem of Alibaba Cloud. With the ability to establish new NEAR validators utilizing Alibaba Cloud’s infrastructure-as-a-service features, this access will encourage more developers to build on the NEAR protocol.
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The NEAR Foundation and Alibaba Cloud will work together to provide remote procedure calls (RPC) as a service to users and developers inside the NEAR ecosystem. Users can read data from blockchains and transmit transactions to many networks thanks to RPC. They will also offer multi-chain indexing, which gives programmers access to a data-query application programming interface (API).
The NEAR Blockchain Operating System (BOS), a platform introduced earlier this year by the NEAR Foundation, will be accessible to users. Developers can use this platform to create and communicate with other users while utilizing the Alibaba Cloud infrastructure.
The price of NEAR increased by 8% to $1.57 as a result of the announcement of the cooperation between the NEAR Foundation and Alibaba Cloud. This shows that the collaboration has received positive feedback from the market and the possibilities it offers for the growth and adoption of NEAR.
The cooperation has been strengthened by the recent appointment of Joseph Tsai as the new Chairman of Alibaba. Tsai is well-known for his active participation in Web3 investments and several agreements with businesses involved in the cryptocurrency industry. The collaboration’s potential influence on assisting Web3 developers and validators is strengthened by Alibaba’s leadership aligning with the Web3 area.
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The relationship is crucial for assisting Web3 developers and validators, especially in Asian markets, said Raymond Xiao, head of global Web3 solutions at Alibaba Cloud Intelligence. For developers and validators in the region, Alibaba Cloud’s extensive infrastructure in Asia offers great opportunity.