How will Chainlink price react to dev platform that links Amazon Web Services, Meta to web3 apps
- Chainlink has launched Functions, a developer platform that connects web3 applications to cloud software like Amazon Web Services, Meta.
- Chainlink’s Functions beta is available on Ethereum Sepolia and Polygon Mumbai testnets.
- LINK price could break out of its slump and begin its recovery with Chainlink’s boost in utility and dev platform launch.
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Chainlink’s new developer platform is set to introduce traditional cloud software like Amazon Web Services and Meta to web3 applications. The new platform could drive the Ethereum-killer altcoin’s utility and adoption higher.
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Chainlink releases new developer platform for web3 applications
Chainlink, an Ethereum-alternative and a decentralized blockchain has launched a developer platform called Functions. LINK is connecting web3 applications to traditional cloud software like Amazon Web Services (AWS) and Meta.
Chainlink Functions beta is available on the Ethereum Sepolia and Polygon Mumbai testnet. LINK’s new offering for developers is a web3 serverless platform that allows tech experts to fetch data from any API and runs on Chainlink’s highly secure blockchain network.
.@chainlink Co-Founder @SergeyNazarov joins @JillMalandrino on @Nasdaq #TradeTalks to discuss a Web3 developer platform that enables developers to connect their decentralized apps to any API in minutes. https://t.co/WwkuiwHxqA
— TradeTalks (@TradeTalks) March 1, 2023
The end user of the platform initiates the function embedded within the dApp and the result is high reliability and trust-minimized security. With access to AWS and Meta, web3 applications could scale with the security of Chainlink’s blockchain.
The native token of the Chainlink blockchain has yielded 4.5% losses for holders over the past week. A boost in utility of the Ethereum competitor could fuel the adoption and demand for LINK, fueling a bullish sentiment among holders.
LINK price is close to its weekly low of $7.37 at press time, after nosediving from $8.11 on February 24. The altcoin could begin its recovery soon, wiping out losses from the past week.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
