Blockchain startup Chainbase has partnered with Alibaba Cloud to reduce operational costs for its decentralized data distribution. Chainbase, a web3 interaction layer infrastructure for artificial intelligence, has teamed up with the Chinese cloud provider to cut its operational expenses by half.

In an X announcement on Thursday, the Singaporean startup stated that this collaboration will help enhance storage and GPU computing power to decentralize its data network. The partnership has already resulted in halving operational costs and achieving 100% uptime during the petabyte-level migration process.

By joining forces, we’ve halved operational costs and achieved 100% uptime during the petabyte-level migration process.

Chainbase is also exploring the option to leverage Alibaba Cloud’s community resources to accelerate its network and AI model development, though specific timeframes were not provided. The terms of the collaboration with Alibaba were also not disclosed.

Founded in 2021 by Damon Yue, Chainbase offers a suite of tools and services designed to support the development and scaling of 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. Reports indicate that the Chainbase mainnet network and its governance token CBT are expected to go live in Q4 2024.

Alibaba has been expanding its presence in the blockchain sector as part of its broader diversification strategy. In September 2023, Ant Group Digital Technologies, a subsidiary of Alibaba Group, introduced ZAN, a brand focused on providing blockchain development tools. This initiative aims to deliver a wide range of blockchain products and services designed to meet the needs of both institutional and individual web3 developers.

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