Web3 News

BytePlus, the enterprise technology division of ByteDance, the parent company of TikTok, has announced its entry into the Web3 space through a strategic partnership with Mysten Labs, the developer of the Sui layer-1 blockchain.

As per the statement issued on April 17, BytePlus plans to leverage its expertise and experience in artificial intelligence (AI) and data warehousing to support the Sui ecosystem, specifically focusing on Web3 gaming and SocialFi projects.

Under this partnership, BytePlus will combine its advanced solutions, including ByteHouse, a cloud-native data warehouse, with Sui’s full-node data.

According to the announcement, integrating BytePlus could boost Sui’s analytics capabilities by enabling infinite scalability and real-time data processing.

Mysten Labs, on the other hand, will benefit from ByteHouse’s high-performance, low-maintenance properties, which could ultimately accelerate data delivery for users on the Sui network.

Evan Cheng, the co-founder and CEO of Mysten Labs, said the partnership could “revolutionize” data analytics in the Web3 sphere.
“Integrating cutting-edge AI and visual algorithms into Sui signifies a leap forward for user experience within Web3 gaming platforms and SocialFi projects.”

ByteDance has been interested in exploring Web3 technology for a while now. In 2019, the company established a joint venture with a state-owned Chinese media group to develop business arms focused on blockchain and AI.

In June 2020, ByteDance applied for a virtual banking license in Singapore to enter the digital finance scene.

On the other hand, Sui is a newer layer-1 network that Mysten Labs introduced in March 2022. However, the ecosystem has rapidly developed in recent months with various new partnerships.

In February, the Sui Foundation partnered with a university in the United Arab Emirates to launch a blockchain academy. A month later, it was revealed that the Greek stock exchange ATHEX would use Sui’s blockchain ecosystem for its new fundraising mechanism.

Huawei Cloud, a global leader in cloud computing, and EMURGO, a founding entity of the Cardano blockchain, have announced a significant partnership. The collaboration aims to accelerate the development and adoption of Cardano-based Web3 solutions, particularly in the rapidly growing Asian and African markets.

On April 11th, EMURGO formally announced its partnership with Huawei. As a part of this alliance, EMURGO will establish a Cardano Validator Node on Huawei Cloud, seamlessly integrating Huawei’s robust cloud infrastructure into the Cardano public blockchain network. This integration will give Cardano developers access to Huawei Cloud’s vast computing resources, enabling them to build innovative Web3 applications in an ideal environment.

Huawei will also feature Cardano on its Marketplace, a platform well-known among major businesses. This inclusion will grant Cardano increased visibility and potential for enterprise-level adoption. Through this strategic collaboration, both companies aim to enhance the overall interoperability and scalability of Cardano’s cloud capabilities.

Ken Kodama, CEO of EMURGO, expressed excitement about the partnership, highlighting the shared objective of cultivating trust and transparency within the cloud computing environment. Meanwhile, Rex Lei Yang, Managing Director of Huawei Cloud Singapore, conveyed similar enthusiasm, noting that the partnership offers access to Cardano’s extensive Web3 developer community.

Founded in Japan in 2015, EMURGO plays a crucial role in Cardano’s commercial development and expansion. The company fosters strategic partnerships, offers educational programs, supports investments, and builds infrastructure to maximize Cardano’s potential.

The collaboration between EMURGO and Huawei is a significant first step, setting the stage for future ventures. It aligns with EMURGO’s broader mission to introduce Cardano into major economies. Huawei Cloud’s established presence and enterprise connections, particularly in Asia and Africa, could pave the way for the widespread adoption of Cardano-based solutions.

This partnership may also encourage other major cloud service providers to explore the benefits of integrating blockchain technology into their offerings. As the collaboration matures, innovative use cases and projects that leverage the strengths of both Huawei Cloud and the Cardano blockchain can be anticipated.

Stc Bahrain has teamed up with Core Chain, a Layer-1 blockchain network powered by Bitcoin, to transform the Web3 landscape in the Gulf region.

This partnership, which was announced on Thursday, is expected to greatly improve the functionality of the BTC ecosystem and accelerate the development of blockchain technologies across the Middle East.

Under this collaboration, stc Bahrain, known for its leadership in digital transformation, will use Core Chain’s technology to deploy and operate nodes within the Core Chain network. This move strengthens the network’s infrastructure and aligns with stc Bahrain’s broader goal of driving digital innovation throughout the Gulf.

Core Chain offers a scalable, secure, and decentralized blockchain solution that is distinguished by its unique Satoshi Plus consensus mechanism, which combines the benefits of Proof of Work (PoW) and Delegated Proof of Stake (DPoS).

This partnership is consistent with stc Bahrain’s vision of promoting economic growth and technological advancement in the region through strategic collaborations. It is also a key component of stc Bahrain’s Pearling Path Partnership Program, which is integral to its Web3 Launchpad initiative.

The Pearling Path Program aims to accelerate the adoption of Web3 technologies in the Middle East by promoting a collaborative environment for innovation and the integration of blockchain solutions to address regional challenges and boost economic development.

“By incorporating Core Chain into our Pearling Path initiative, we’re not just adopting a blockchain protocol; we’re laying the groundwork for scalable innovation for the future. This is a significant step towards building a cohesive Web3 ecosystem in the Gulf,” said Saad Odeh , Chief Wholesale Officer at stc Bahrain.