Ant Group Launches Jovay, a New Ethereum Layer-2 Blockchain
- On October 14, Ant Group launched Jovay, a Layer-2 blockchain designed to move real-world assets (RWAs) on-chain.
- Jovay aims for transaction speeds of up to 100,000 transactions per second (TPS), significantly higher than current Ethereum layer-2 networks.
- The platform focuses on enterprise adoption and compliance, launching without a native token.
- Real-world assets on Ethereum have surpassed $12 billion in value, growing over 300% since early last year.
- Alipay’s user base of 1.4 billion could drive significant activity through Jovay if integrated into the Ethereum ecosystem.
Ant Group’s launch of Jovay represents a strategic shift towards integrating public blockchain technology into institutional finance, as it leverages the scalability of Ethereum. This move could enhance liquidity and compliance in the growing market for RWAs.
With transaction speeds targeting up to 100,000 TPS, Jovay may significantly impact how financial institutions interact with decentralized finance.(Source)
