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.