How will Chainlink price react to dev platform that links Amazon Web Services, Meta to web3 apps

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. 

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.