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 stunned 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, centered on world real-world asset (RWA) tokenization through its “modular Layer2 infrastructure that bridges Web2 and Web3.”
Based on the chain’s block explorer, the community at present hosts $50 million in complete worth locked, however has solely finalized 16,600 complete transactions.
Jovay Explorer
Alibaba Group ($BABA) is the Thirtieth-largest firm on this planet by market capitalization, with a $385 billion valuation, making it the second-largest firm in China.
The corporate first started exploring blockchain through Ant in 2019 with Alibaba Cloud, its blockchain-as-a-service (BaaS) platform for provide chain administration duties similar to product traceability.
