The Sui layer 1 blockchain developer, Mysten Labs, has entered into a memorandum of understanding with Alibaba Cloud, a subsidiary of the Chinese technology conglomerate Alibaba Group (BABA), which holds a market capitalization of $235 billion.
To create a more user-friendly experience, which is often considered essential for attracting more individuals from Web2 to Web3, Alibaba Cloud is set to offer secure cloud infrastructure and archival node services to validators for Sui’s testnet.
In addition to collaborating on developing sustainable Web3 ecosystems, the two businesses will explore possible opportunities in the e-commerce and payment industries.
According to Evan Cheng, who serves as the Co-Founder and CEO of Mysten, Alibaba Cloud has exhibited a robust dedication to advancing the development of Web3 through its secure and reliable cloud infrastructure. The CEO expressed enthusiasm about collaborating with Alibaba Cloud to introduce a wide range of businesses, including those in e-commerce and payments, to the potential that can be unlocked by leveraging Sui and blockchain technology in general.
According to Daniel Jiang, the general manager of the Middle East, Turkey, and Africa for Alibaba Cloud Intelligence, they are enthusiastic about collaborating with Mysten Labs to incorporate their secure technology and established solutions into the emerging Web3 space to provide more immersive and user-friendly experiences.
With Alibaba Cloud’s comprehensive global compliance capability, trusted security, and robust infrastructure coverage worldwide, the company is well-placed to foster the development of the Web3 ecosystem by delivering highly efficient, scalable, and secure infrastructure that can better serve customers.
Alibaba Cloud provides an array of cloud computing services, such as elastic computing, database, storage, large-scale computing, and application services. In December, Alibaba Cloud introduced its Blockchain Node Service, which delivers scalable, efficient, and secure infrastructure for Web3 developers.
Former Meta Platforms (Facebook) executives who were working on the delayed Diem blockchain project founded Mysten Labs. Sui is an advanced proof-of-stake blockchain that employs the consensus process and unique data structures to provide excellent performance at a minimal cost.