Microsoft, which recently invested $10 billion in artificial intelligence developer OpenAI, announced its new partnership with the market’s largest Web3 coin. The news had the expected effect on the price.
Microsoft partnership led to rally in this Web3 coin
In a recent investment news from the technology company, a partnership was formed with Ankr (ANKR) to provide corporate node services. The partnership will offer low-latency Blockchain connections for Web3 projects, allowing developers to take the time to scale their applications.
Ankr 🤝 @Microsoft
We’ve partnered with Microsoft to support enterprises and organizations needing access to blockchain data with a reliable, easy-to-use node hosting service 🫡
Read more ⬇️https://t.co/XF8CG1grg5 pic.twitter.com/8tv5Mfz7FH
— Ankr (@ankr) February 21, 2023
Ankr (ANKR) price rises 60% after Microsoft news
Ranking 85th in terms of market value, ANKR gained 60% in value after the Microsoft partnership announced about an hour ago. Buying continues and ANKR price maintains its 60% gain. Accompanied by the news, the price peaked at $0.05474 from a daily low of $0.03298.
What does the partnership provide to the Web3 coin project?
Microsoft has partnered with decentralized blockchain infrastructure provider Ankr to provide a new node hosting service on the Microsoft Azure Marketplace. Additionally, the partnership will see the integration of both companies’ technology by pairing Ankr’s blockchain infrastructure with Microsoft’s cloud solutions.
According to Ankr, the low-latency blockchain connections the enterprise node distribution service offers for Web3 projects will save developers time to scale their applications. The service transfers transactions, implements smart contracts, and can read or write Blockchain data.
Ankr plays a leading role in corporate node services
Ankr said that by upgrading its load balancer to use Azure-based routing solutions, the firm can further scale its transaction processes by efficiently routing Remote Procedure Call requests to the most appropriate node operators. With the technological integration, customers will be able to manage node hosting solutions for Blockchain node operators with a choice of special features for memory, bandwidth and global location. Ankr’s co-founder and CEO, Chandler Song, commented on the development:
While the partnership is an incredible milestone for Ankr, it is also an important indicator of how far the decentralized network has come in integrating with key players in every layer of web systems. The end result will be a highly productive building era for blockchain-based applications from new Web3 projects and large businesses entering the space.
“Many developers and organizations are exploring how Web3 can help solve real-world business challenges, and our partnership with Ankr will enable them to access Blockchain data in a reliable, scalable way,” said Rashmi Misra, Microsoft’s general manager of artificial intelligence and emerging technologies. cryptocoin.comAs we reported, Microsoft triggered the ongoing rally in the AI ​​coin market after announcing in January that it plans to invest in OpenAI.
