The blockchain arm of Chinese tech conglomerate Ant Group has dropped some new Web3 initiatives to supercharge cooperation in the field.
AntChain has announced the establishment of AntChain OpenLab, a new research centre dedicated to building a secure, transparent and reliable Web 3.0 infrastructure. AntChain Technical Director, Yan Ying, made the announcement at the 2023 Ant Group Digital Technologies Developer Conference in Hangzhou on April 26.
AntChain has also teamed up with Shanghai Data Exchange and Zhejiang Cultural Investment Group to co-launch a suite of Web3 development toolkits and services called Web3 OpenChain.
Ant Group is an affiliate of Alibaba and owns the world’s largest digital payment system Alipay. Ant Group unveiled AntChain in 2020 as a banner brand for their blockchain technology solutions as well as their work on AI and other technologies.
Toward the goal of driving forward Web3 development, AntChain also recently opened its source code for a cross-chain protocol it developed, meaning any other developer can access and use the code. Cross-chain technology aims at improving data exchange between different blockchains.
Yan said, “After several years of exploration, we are glad to share our cross-chain technology and technical know-how with the Web3 community through this open-source project. We hope the project can help facilitate the development of the Web3 community and make the technology more inclusive.”