Blockchain startup Chainbase has teamed up with Alibaba Cloud to reduce operational costs for decentralized data distribution by 50%. Announced on Thursday, the collaboration aims to enhance storage and GPU computing power to decentralize data networks.
Chainbase, founded by Damon Yue in 2021, focuses on supporting blockchain applications. In mid-July, the startup secured $15 million in a Series A round co-led by Tencent Investment Group and Matrix Partners China. Chainbase’s mainnet network and governance token, CBT, are expected to launch in Q4 2024.
Alibaba Cloud, a global leader in cloud computing, offers robust and secure services that align with Chainbase’s goals. Achieving 100% uptime during the petabyte-level migration process is a standout feature, ensuring reliability and efficiency.
This partnership highlights Alibaba’s growing presence in the blockchain sector. The collaboration strategically accelerates Chainbase’s network and AI model development, contributing to the broader adoption and innovation in decentralized technologies.
