Alibaba Cloud inks a deal with Sui Blockchain

 

Alibaba Cloud has just signed a memorandum of understanding with Mysten Labs, the developer of Sui Blockchain.  Contractual terms state that Alibaba Cloud will provide Sui with archival node services and secure cloud infrastructure.  Sui is a permissionless Layer 1 blockchain that allows creators and developers to build experiences that cater to Web3 users.  Alibaba’s technology will be used to enhance the user experience on Sui’s testnet, a blockchain created specifically for developers to test new features.  The agreement also states that both companies will develop sustainable Web3 ecosystems and look into viable opportunities in the e-commerce and payment sectors.  California-based Mysten Labs is the firm behind Sui Blockchain, which was founded by former executives of Meta Platforms (Facebook). The firm specializes in tools for Web3.