Through its relationship with Alibaba Cloud, Avalanche will build tools that allow customers to establish validator nodes on its public blockchain network throughout Asia.
Aliyun, the Alibaba Cloud division, has announced that it would be integrating with the Avalanche blockchain to fuel its Node-as-a-Service activities.
Through its relationship with Alibaba Cloud, Avalanche will build tools that allow customers to establish validator nodes on its public blockchain network throughout Asia. Avalanche developers may now use Alibaba Cloud’s easy-to-use IaaS for launching new validators thanks to the connection.
Alibaba Cloud offers extra processing, storage, and distribution capabilities that may be used by developers that anticipate high resource needs during peak hours.
The release claims that Avalanche hosts 1,200 validators and handles 2,000,000 transactions each day. Alibaba Cloud is the biggest cloud service provider in Asia and the Pacific, thus this relationship is on a tremendous scale.
As part of the connection, Alibaba Cloud offered Avalanche developers credit for any of their services. Aave, Curve, BENQi, Sushi, and Chainlink are just a few of the decentralized financial (DeFi) ecosystems now supported by Avalanche.
Bo Shen, a Chinese venture capitalist and general partner of the Fenbushi Capital venture capital firm advised by Vitalik Buterin, claims to have lost $42 million from his Trust Wallet.
Shen acknowledged that the money was transferred to him and was unrelated to Fenbushi Capital: “The event has been reported to local authorities. There’s been involvement from the FBI and from attorneys.”
Later, the blockchain analytics company SlowMist confirmed Shen’s loss of cash while certifying that Trust Wallet had no security problems.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.