Jovay Community has flown beneath the radar till it talked about Ethereum in a social media submit in the present day.
Jovay Community, an Ethereum Layer 2 (L2) community backed by Ant Digital, a subsidiary of Alibaba, is catching eyes in the present day after it proclaimed its alignment with Ethereum on social media.
Regardless of many buyers being shocked 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 by way of its “modular Layer2 infrastructure that bridges Web2 and Web3.”
In accordance to the chain’s (*2*), the community presently hosts $50 million in whole worth locked, however has solely finalized 16,600 whole transactions.
Alibaba Group ($BABA) is the Thirtieth-largest firm on the earth by market capitalization, with a $385 billion valuation, making it the second-largest firm in China.
The corporate first started exploring blockchain by way of Ant in 2019 with Alibaba Cloud, its blockchain-as-a-service (BaaS) platform for provide chain administration duties similar to product traceability.
