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Tencent adds to its host of Web3 offerings Tencent adds to its host of Web3 offerings

Tencent adds to its host of Web3 offerings

Tencent Cloud announces Memorandums of Understanding with Web3 blockchain partners Ankr, Avalanche, Scroll, and Sui.

Tencent adds to its host of Web3 offerings

Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.

Tencent, the Chinese multinational conglomerate headquartered in Shenzhen and owner of the popular everything app WeChat, hosted an event last week at the Fullerton Hotel in Singapore meant to draw attention to the companyโ€™s increasingly large portfolio of Web3-based services and applications.

On Feb. 22, the company announced Tencent Cloud’s Global Web3 Ecosystem Support Program, an initiative meant to promote the companyโ€™s inroads into the blockchain industry.

Poshu Yeung, Senior Vice President, Tencent Cloud International, said of the initiative:

โ€œAt Tencent Cloud, we see a future with Web3, a new iteration of the internet that ushers in the concept of โ€˜Immersive Convergenceโ€™ where the physical and digital economies meet and integrate. With more businesses now keen to explore and adapt to an efficient, transparent digital future, we are ready to leverage our many years of technical experience in the fields of games, audio, and video to provide strong technical support for Web3, and work with industry partners to create a more immersive experience and nurture a better Web3 ecosystem.โ€

One of the partnerships announced is with Ankr, a Web3 infrastructure provider able to jointly develop a suite of blockchain API services. This suite will be deployed on Tencent Cloud’s infrastructure and provide builders with a globally distributed and decentralized network of Remote Procedure Call nodes. This will enable developers to power their Web3 projects, such as Web3 games and Web3 social applications, with reliable and efficient connections to most of the popular blockchains, the company said.

Tencent doubles down on blockchain

In addition, Tencent Cloud has signed Memorandums of Understanding with three other Web3 blockchain partners: Avalanche, Scroll, and Sui. These collaborations will seek to empower Web3 builders with practical tools and solutions to better build on the respective blockchains.

  • Avalanche is a smart contracts platform developed by Ava Labs, a consensus protocol and subnet infrastructure enabling Web3 developers to easily launch custom, highly-scalable solutions. Tencent Cloud has set up a fully synchronized Avalanche full node, which will enable efficient and quick node setup for developers. The collaboration will seek to explore blockchain solutions for enterprise customers in traditional sectors.
  • Scroll is an open-sourced bytecode-level equivalent zkEVM zk-Rollup to scale Ethereum. Tencent Cloud is working with Scroll to establish the initial scaling solution foundation, while validators and sequencers within the Scroll network can benefit from Tencent Cloud’s high-performing infrastructure to achieve performance stability and resource decentralization. Tencent Cloud will also provide cloud credit support for selected teams of builders in the Scroll community.
  • Sui is a Layer-1 blockchain being initially developed by Mysten Labs, and it’s optimized for high-performing games. The collaboration between Tencent Cloud and Sui will provide builders with effective cloud-based game development tools and dedicated support to optimize the on-chain gaming experience. Web3 game developers using Tencent Cloud’s infrastructure can seamlessly run games on the Sui network.
Posted In: Analysis