In a significant move to foster the growth of Web3 technology in Asia, the NEAR Foundation, a leading blockchain platform, partners with Alibaba Cloud, the cloud computing arm of Alibaba Group. This collaboration aims to propel the adoption and development of decentralized applications (dApps) and blockchain solutions across the region.
Developers will gain access to a data-query API within the partnership by implementing multi-chain indexing. The NEAR Foundation is renowned for its scalable and developer-friendly blockchain platform, enabling innovative dApps creation. By teaming up with Alibaba Cloud, a global leader in cloud computing services, NEAR aims to leverage the cloud provider’s expansive infrastructure and expertise further to accelerate the advancement of Web3 technologies in Asia.
Partnership Aims to Drive Web3 Adoption in Asia and the Middle East
The NEAR Foundation, responsible for fostering the development of the NEAR protocol’s ecosystem, has teamed up with Alibaba Cloud, the computing and storage division of the Chinese technology giant, to expedite the growth of Web3 technology in Asia and the Middle East. NEAR Foundation partners with Alibaba Cloud Collaboration, enabling the NEAR Foundation to tap into Alibaba Cloud’s expansive developer ecosystem in the region, aiming to attract more developers to leverage the NEAR protocol. CoinDesk reported that developers interested in launching new NEAR validators would have the opportunity to utilize Alibaba Cloud’s convenient “plug-and-play” infrastructure as a service.
According to a press release, the NEAR Foundation and Alibaba Cloud have announced their collaboration to provide remote procedure calls (RPC) as a service to developers and users within the NEAR ecosystem. RPC is a computer server that enables users to access data on blockchains and transmit transactions across various networks. Additionally, the partnership will offer multi-chain indexing, granting developers access to a data-query application programming interface (API).
NEAR Foundation and Alibaba Cloud Collaboration Empowers Users and Boosts NEAR’s Market Value
Utilising Alibaba Cloud’s infrastructure, users will have the opportunity to leverage the NEAR Blockchain Operating System (BOS), a platform introduced earlier this year, enabling developers to build and engage with other users seamlessly. Following the announcement of the partnership with Alibaba, the price of NEAR experienced an 8% surge, reaching $1.57 on Monday. Notably, Alibaba’s recent appointment of Joseph Tsai as Chairman, known for his active involvement as a Web3 investor and his engagement in various agreements with crypto-related entities, further amplifies the significance of this collaboration.
Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, emphasized the significance of the NEAR Foundation and Alibaba Cloud partnership, stating, “This collaboration is crucial in our ongoing support for Web3 developers, enabling them to explore new opportunities.“ Xiao further highlighted the importance of the partnership for developers and validators in Asian markets, as they can now harness the extensive infrastructure provided by Alibaba Cloud across the region.
The NEAR Foundation’s partnership with Alibaba Cloud marks a significant milestone in accelerating the growth of Web3 technology in Asia. By combining NEAR’s scalable blockchain platform with Alibaba Cloud’s robust infrastructure, developers and enterprises can access enhanced resources and support. This collaboration aims to attract more developers to build on the NEAR protocol and drive the adoption of decentralized applications across various industries.
With the introduction of multi-chain indexing and remote procedure call services, the NEAR ecosystem becomes more accessible and efficient for users. The positive market response, as reflected in the rise of NEAR’s price, indicates the industry’s recognition of the potential impact of this partnership. As Web3 continues to reshape industries, the NEAR Foundation and Alibaba Cloud are well-positioned to drive innovation and shape the future of decentralized technologies in Asia and beyond.
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