Alibaba, PlatON, and HashKey to co-build Web3 developer platform

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.

The officials of HashKey Group, Alibaba Cloud, and PlatON endorsed an MOU at the Alibaba Cloud Summit in Hong Kong in 2022. The partnership aims to build a Web3 ecosystem with numerous projects. The group also plans to host offline meetups offering open-source courses on Web3 technology.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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