Jovay Community, an Ethereum Layer 2 (L2) community backed by Alibaba subsidiary Ant Digital, has been gaining consideration at the moment after asserting its collaboration with Ethereum on social media.
The information shocked many traders, however Jovay was initially unveiled as Ethereum L2 on the RWA Actual Up convention in Dubai in April.
Jovay touts itself as a financial-grade blockchain infrastructure, targeted on tokenizing world real-world belongings (RWA) by way of a “modular Layer2 infrastructure that bridges Web2 and Web3.”
In response to the chain's block explorer, the community at the moment hosts a complete of $50 million locked, however solely 16,600 complete transactions have been accomplished.
Jovay Explorer
Alibaba Group ($BABA) is the thirtieth largest firm on the earth by market capitalization, valued at $385 billion, and the second largest firm in China.
The corporate first started exploring blockchain by way of Ant in 2019 with Alibaba Cloud, a blockchain-as-a-service (BaaS) platform for provide chain administration duties akin to product traceability.
