Through their collaboration with Alibaba Cloud, Avalanche will create the tools necessary for users in Asia to set up validator nodes on their public blockchain platform.
Alibaba Cloud, also known as Aliyun, is a division of the Chinese e-commerce giant Alibaba. To support its Node-as-a-Service activities, Alibaba Cloud, also known as Aliyun, announced a connection with the Avalanche blockchain.
Through their collaboration with Alibaba Cloud, Avalanche will create the tools necessary for users in Asia to set up validator nodes on their public blockchain platform. Through the integration, Avalanche developers will be able to use the plug-and-play infrastructure as a service from Alibaba Cloud to launch new validators.
Developers can use the extra computing, storage, and distribution resources offered by Alibaba Cloud if they expect to need a lot of resources during peak hours.
The release states that Avalanche supports over 1,200 validators and handles about 2 million transactions each day. Given that Alibaba Cloud is the largest Asian cloud service provider in the Asia-Pacific area, the relationship has a significant scope.
As part of a special deal, Alibaba Cloud gave Avalanche developers credit that could be used on any of their services. Over 1,000 projects are currently powered by Avalanche, including ecosystems for decentralized finance (DeFi) as Aave, Curve, BENQi, Sushi, and Chainlink.
Bo Shen, a general partner at the venture capital fund Fenbushi Capital advised by Vitalik Buterin, claimed to have lost $42 million from his Trust Wallet.
Shen affirmed that the money was his and had nothing to do with Fenbushi Capital:
“Local law enforcement has been notified about the event. Both the FBI and attorneys have been involved. In the end, civilization and justice will triumph over evil and savagery. The iron rule of human society is this. Only a matter of time will pass.
Later, Shen’s loss of money was confirmed by blockchain analytics company SlowMist, but no security vulnerabilities on the part of Trust Wallet were found.