As an experienced technology analyst who has closely followed the blockchain industry for years, I am thrilled to see Chainbase’s strategic partnership with Alibaba Cloud. This collaboration is a game-changer for Chainbase, as it will help the company significantly reduce operational costs, improve efficiency, and accelerate its network and AI model development.
As a researcher studying blockchain technology, I’m excited to share that Chainbase recently announced a partnership with Alibaba Cloud. This collaboration has significantly reduced our operational costs by nearly half. During the migration process, our team ensured uninterrupted operations, achieving continuous uptime without any downtime.
Through our collaboration with Alibaba Cloud, Chainbase aims to enhance the decentralization of its data network by boosting storage capacity and computational power. Additionally, Chainbase intends to leverage Alibaba Cloud’s extensive community resources to accelerate the development of its network infrastructure and AI models. However, a specific timeline for this project has yet to be announced.
Moving forward, our priority is to improve storage input/output and graphics processing unit (GPU) capabilities to create a more distributed data network. Additionally, we aim to utilize the extensive community resources offered by AlibabaCloud_jp to expedite our progress in networking and artificial intelligence model development.
Chainbase Accelerate Network and AI Model Development
A blockchain firm called Chainbase was established in the year 2021. This organization offers essential services to facilitate the creation of blockchain applications. In July mid-year, Chainbase secured $15 million during its Series A financing round. This funding round was jointly spearheaded by Tencent and Matrix Partners China. By the last quarter of 2024, Chainbase intends to debut its mainnet and introduce its governance token, named CBT.
Chainbase has experienced remarkable growth and now leads as the most extensive data network encompassing multiple blockchains. By integrating all blockchain data into a unified system, it ensures transparency for artificial intelligence (AI) applications to utilize. Furthermore, this platform boasts an impressive community of over 15,000 developers and data scientists. Additionally, approximately 8,000 applications have been developed using its infrastructure.
To accelerate its development, Chainbase transferred its blockchain data solution to Alibaba Cloud, resulting in quicker and more affordable services. Previously, Chainbase’s cost-effective partner served them well, but as the company expanded, the importance of enhancing efficiency for faster growth became evident. The mounting operating expenses presented a hurdle, draining resources that could have been allocated to business expansion instead. Chainbase’s CEO, Mogu, acknowledged this challenge.
As an analyst, I’m thrilled about our new collaboration with Alibaba Cloud. Their comprehensive range of Web3 solutions makes them an indispensable partner for Chainbase in our international growth. Previously, we had tried other cloud providers to host our primary services, but none could match the speed, scalability, and toolset that Alibaba Cloud offers.
Through this collaboration, Chainbase’s operations will become even more secure, robust, and productive as it expands. Alibaba Cloud has pledged its commitment to facilitating Chainbase’s development. The team announced their intention to help Chainbase transition into a fully decentralized platform towards the end of the year. To make this goal attainable, they will offer additional storage Input/Output (I/O) and Graphics Processing Unit (GPU) computing power.
As a researcher studying the technology sector, I’ve noticed Alibaba’s expanding presence in the blockchain industry beyond its renowned e-commerce services. In fact, in September 2023, Ant Group Digital Technologies – a subsidiary of Alibaba Group – introduced ZAN as a new brand under its umbrella. This fresh initiative aims to offer developers comprehensive tools for creating and managing blockchain projects.
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2024-07-25 18:06