On May 4, 2023, the team behind the smart contracts platform Avalanche ($AVAX) announced a game-changing collaboration with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.
As described by Binance Academy, Avalanche is an innovative blockchain solution that aims to enhance scalability without sacrificing speed or decentralization. The platform consists of three interconnected blockchains: the Exchange Chain (X-Chain) for creating and trading assets, the Contract Chain (C-Chain) for developing smart contracts, and the Platform Chain (P-Chain) for coordinating validators and Subnets.
A crucial breakthrough of Avalanche is its consensus mechanism, known as Avalanche Consensus, which leverages repeated sub-sampled voting by validators to achieve quick and cost-effective agreement. Additionally, Avalanche utilizes Subnets, a unique approach to horizontal scaling, which enables the creation of customizable and interoperable blockchains with no limit to the number of possible Subnets.
Ava Labs, a Brooklyn-based blockchain startup founded in 2018, is responsible for developing Avalanche. The company’s leadership includes CEO Professor Emin Gün Sirer, a computer science researcher at Cornell University, COO Kevin Sekniqi, and Chief Protocol Architect Ted Yin.
Avalanche and Alibaba Cloud have teamed up to create Cloudverse, a comprehensive solution that empowers businesses to seamlessly customize, launch, and maintain their metaverse spaces on the Avalanche blockchain.
The Avalanche team says that Cloudverse stands out from other metaverse solutions with its rapid development process, high traffic volume capacity, open ecosystem, and professional land planning and governance. With this cutting-edge platform, millions of Alibaba Cloud clients and billions of users worldwide can access top-tier metaverse technologies.
Alibaba Cloud will provide scalable, efficient, and secure cloud infrastructure offerings, such as computing, storage, database, networking, and intelligence operation platforms. Meanwhile, Avalanche and MUA DAO will contribute solutions for building metaverse spaces. This powerful combination is aimed at giving businesses the tools they need to venture into the Web3 world successfully.
This partnership between Alibaba Cloud and Avalanche began in December 2022, when Alibaba Cloud provided infrastructure technology and tools to help users in Asia launch validators on the Avalanche network. This included plug-and-play and node-as-a-service initiatives. With Alibaba Cloud’s support, Avalanche has fostered blockchain adoption in Asia and expanded its brand recognition and presence in the region.
Ava Labs President John Wu shared his excitement about the partnership, highlighting how Alibaba Cloud and Avalanche are revolutionizing how enterprises create value and seize Web3 opportunities. With Cloudverse powered by Avalanche, businesses have a quick, low-overhead, one-stop gateway into the Web3 world.
Raymond Xiao, Head of International Web3 Solutions at Alibaba Cloud Intelligence, also emphasized the rising popularity of blockchain technology and the metaverse. He believes that launching the metaverse launchpad on Avalanche for CloudVerse will offer businesses a way to kickstart their metaverse journeys, drive innovations, and enhance customer experiences.
Cloudverse offers end-to-end support for businesses, covering visuals, meta economics, interactive functions, events, and ongoing metaverse operation. The entire process is straightforward and can be completed in as little as one month, depending on the project’s scope. Importantly, no land purchase is required for businesses to join Cloudverse, which will be open for anyone to participate.