Alibaba Cloud, the cloud computing arm of Alibaba Group, has announced a partnership with Near Foundation to boost the expansion of Web3 in Asia. The collaboration aims to provide developers with the necessary tools and resources to build decentralized applications (dApps) on the Near Protocol.
The Near Protocol is a blockchain platform that enables developers to create dApps that are scalable, secure, and user-friendly. It uses a unique consensus mechanism called “Nightshade” that allows for high throughput and low latency, making it ideal for building Web3 applications.
The partnership between Alibaba Cloud and Near Foundation will provide developers with access to Near’s development tools, including its software development kit (SDK) and smart contract language, Rust. Additionally, Alibaba Cloud will offer technical support and training to developers who want to build on the Near Protocol.
The collaboration is expected to accelerate the adoption of Web3 technologies in Asia, particularly in China, where Alibaba Cloud has a significant presence. With the support of Alibaba Cloud, developers will be able to build dApps that can be deployed on the Near Protocol and integrated with Alibaba Cloud’s existing services.
One area where the partnership could have a significant impact is in the development of non-fungible tokens (NFTs). NFTs are unique digital assets that can be bought, sold, and traded on blockchain platforms. They have gained popularity in recent years, particularly in the art world, where they have been used to sell digital art for millions of dollars.
The Near Protocol has its own NFT standard called NEP-171, which allows for the creation and management of NFTs on its blockchain. With the support of Alibaba Cloud, developers will be able to build NFT marketplaces and other NFT-related applications on the Near Protocol.
Overall, the partnership between Alibaba Cloud and Near Foundation is a significant step forward for the expansion of Web3 in Asia. By providing developers with the necessary tools and resources, the collaboration could lead to the creation of innovative dApps and NFT marketplaces that could transform the way we interact with digital assets.
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- Source: Plato Data Intelligence.