On 2 December, the Avalanche cryptocurrency project team tweeted out that Avalanche and China’s Alibaba are now working together to give blockchain developers with technological solutions within Alibaba’s current cloud platform. Alibaba Group Holding Limited (Alibaba) is a global Chinese tech firm specializing in e-commerce, retail, the Internet, and software. This firm was created in 1999 and offers a vast array of services, including web-based sale support, electronic payment facilities, ecommerce search engines, and cloud-based computing services.
This partnership between these two businesses will make it easier for programmers to build validator nodes by providing them with a direct link to Alibaba Cloud’s plug-and-play architecture and product suite. While preparing this article, the value of AVAX (the in-house token of the Avalanche cryptocurrency project) is $13.52, a 3.95% increase over the previous 24 hours’ trading price.
This partnership should not be seen as an endorsement of crypto assets since Alibaba is a wholly Chinese firm. However, Alibaba’s products are available worldwide, and blockchain-linked development projects may be readily implemented inside the Alibaba Cloud platform.
A reliable information source indicated last month that Chinese nationals are still engaged in the crypto business. The bulk of active Chinese cryptocurrency investors uses VPN and Defi platforms to exchange assets. People continue to take advantage of the decentralized nature of cryptocurrency networks despite the fact that China implemented a nationwide cryptocurrency prohibition last year with very stringent regulations.
