By George Ward
Earlier this week, Avalanche announced on Twitter that Alibaba Cloud had expanded its products to infrastructure and validators on the Avalanche blockchain. Alibaba Cloud, also known as Aliyun, a subsidiary of the Chinese e-commerce company Alibaba has partnered with Avalanche.
The cloud service provider has integrated with Avalanche to support its Node-as-a-Service activities. The collaboration between Avalanche and Alibaba Cloud will result in the creation of new tools.
Users could create validator nodes on Avalanche’s blockchain in Asia with these tools. In addition, Avalanche developers can leverage the plug-and-play infrastructure offered by Alibaba Cloud to increase its number of validators.
Furthermore, developers that need high resources during peak periods can also enjoy other resources that Alibaba Cloud provides. Such resources include distribution, storage, and computing.
Per the report, there are more than 1,200 validators on the Avalanche blockchain. Also, the network processes around 2 million transactions daily.
The scale of Alibaba Cloud and Avalanche’s partnership has immense benefits for both sides. Besides, Alibaba Cloud is the biggest cloud service company in the Asia-Pacific area.
Presently, Avalanche powers more than 1000 projects, including DeFi ecosystems like Aave, BENQi, Sushi, Chainlink, and Curve. Meanwhile, steps on how to integrate Alibaba Cloud and Avalanche are available on the official website of Alibaba Cloud.
Furthermore, Alibaba Cloud also celebrated its latest integration with a special promotion. The platform offers developers on the Avalanche blockchain credit for any company’s services.
Bo Shen Loses $42M From His Trust Wallet
In other news, Bo Shen, a Chinese Venture Capitalist and partner of Fenbushi Capital claimed last week that he lost over $42 million worth of crypto from his Trust Wallet. According to Shen, the stolen fund is not connected to Fenbushi Capital and belongs to him.
Additionally, Shen noted that the assets drained from his wallet consisted of Ethereum, Bitcoin, and Stablecoins. Meanwhile, the Chinese investor has reported the case to law enforcement agencies.
Also, the US FBI (Federal Bureau of Investigation) and lawyers are involved in the matter. Furthermore, SlowMist, a blockchain analytics platform, has confirmed the incident.
However, the firm didn’t discover any security breach on his Trust Wallet. Hence, someone must have gotten access to Shen’s private keys.
Although the crypto industry has been in a downward momentum, the blockchain sector appears undisturbed by the situation. New blockchain platforms continue to rise, with current ones expanding their support for more projects.