Alibaba Group’s digital technology and backbone, Alibaba Cloud, made an announcement to co-develop the technology and infrastructure platform for Web3 developers. In this venture, Alibaba Cloud is backed by PlatON and HashKey Group.
PlatON is a future-generation internet infrastructure protocol that connects the crypto world to the real world. It is grounded in the fundamental properties of blockchain and backed by a confidential computation network. HashKey Group, on the other hand, is a provider of digital asset financial services and web3 infrastructure.
The new venture aims to support Web3 developers with inclusive back-end technology infrastructures, such as multi-chain infrastructure, cloud platforms, and decentralized identity services. The exceptional tools will relieve developers from back-end maintenance tasks and allow them to focus on developing their Web3 applications in the metaverse, social media, and gaming.
The trio’s collaboration is interconnected and empowering from the perspective of the Web3 ecosystem. The Web3 ecosystem can be segregated into three layers. The bottom would be the infrastructure layer; and above it, a blockchain protocol layer; and the top would be the application layer such as PAAS, IAAS, and SAAS.
Alibaba Cloud provides professional computing, storage, and networking services to the topmost IAAS layer. Similarly to the PAAS layer, PlatON would provide a peer-to-peer network and similar confidential tools and services. Lastly, on the SAAS, Hashkey would provide users with various tools, platforms, and other services.