NEAR Foundation and Alibaba Cloud to offer three key services

NEAR Foundation has announced that it is partnering with Alibaba Cloud to roll out three key services. These are RPC between developers and users, multi-chain data indexing, and collaboration on tools. Calling this a major milestone, the announcement sheds light on how both partners bring important elements to the table for all the ecosystem members—developers and users.

RPC, short for Remote Procedure Call, will be enabled between developers and users of the ecosystem. Data indexing is to make way for providing a data query API to developers. Finally, collaborating on tools is a boost for those willing to go to great lengths to architect a decentralized application. When combined, these factors are expected to make the process seamless and convenient.

However, NEAR and Alibaba Cloud actively strive to bring Web2 users to Web3. While the announcement lacks a precise figure, the NEAR Foundation estimates that the migration could affect billions of users. A definitive timeline has not been provided as part of the roadmap, but this information could be made available within a few days.

The Chief Executive Officer of the Foundation, Marieke Flament, believes that the partnership with Alibaba Cloud makes it evident that its technology has capabilities to enhance the experience of the Web3 sphere. Also, it comes loaded with facilities to uplift developers and help them build exciting applications.

Marieke has called the partnership a major milestone for the NEAR Foundation, adding that they are now looking forward to supporting Alibaba Cloud in its endeavors to leverage the scalability of the blockchain mechanism.

Alibaba Group is, moreover, aiming to leverage the capabilities of BOS (the Blockchain Operating System) to achieve its global mission of offering Web3 services.

NEAR BOS is an operating system that helps users browse and discover the experiences of the open world. Simply stated, it functions identically to all other browsers, except that it is more oriented towards the concept of the open web.

Upon gaining access to NEAR BOS, Alibaba Cloud will work to power the same through its infrastructure. Users and developers will benefit when it comes to exploring news, social media, and other web experiences.

FastAuth is the latest BOS feature on the list. Alibaba Cloud will continue to support users no matter what, enabling developers to bring in new users via email. The requirement for cryptocurrency will not be in the picture.

So far, the announcement has worked well for the Foundation’s native token. NEAR was trading at $1.58 at the time this article was written. This represents an increase of 10.89% from the previous week’s total. NEAR Foundation and Alibaba Cloud have assured that they will continue strengthening their partnership and exploring additional opportunities. This has accelerated the NEAR forecast, taking the value up to $4.73 by the end of this year.

Raymond Xiao from Alibaba Cloud Intelligence has called the partnership an important one, also stating that it will be crucial for developers and validators in the Asian market. The Head of International Web3 Solutions for the venture has extended a helping hand in supporting the Web3 community to create exciting applications.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

Related Articles

Back to top button