Jovay Community, an Ethereum Layer 2 (L2) community backed by Ant Digital, a subsidiary of Alibaba, is catching eyes at the moment after it proclaimed its alignment with Ethereum on social media.
Regardless of many traders being shocked by the information, Jovay was initially revealed as an Ethereum L2 in April on the RWA Actual Up convention in Dubai.
Jovay touts itself as financial-grade blockchain infrastructure, targeted on world real-world asset (RWA) tokenization by way of its “modular Layer2 infrastructure that bridges Web2 and Web3.”
In keeping with the chain’s block explorer, the community at present hosts $50 million in whole worth locked, however has solely finalized 16,600 whole transactions.
Jovay Explorer
Alibaba Group ($BABA) is the Thirtieth-largest firm on the earth by market capitalization, with a $385 billion valuation, making it the second-largest firm in China.
The corporate first started exploring blockchain by way of Ant in 2019 with Alibaba Cloud, its blockchain-as-a-service (BaaS) platform for provide chain administration duties reminiscent of product traceability.
