After recent reports that Chinese e-Commerce conglomerate Alibaba launched its own platform for the mining of cryptocurrencies, the company issued an official statement denying that their platform is tied to virtual currencies or mining.
According to the official statement posted on Weibo, recently launched a platform “P2P Nodes” Alibaba was erroneously presented as related to the cryptocurrency.
The statement further explained that the platform actually is a service of content delivery P2P-enabled CDN provided by Alibaba Cloud, designed to enable users to increase their speed in the network by sharing unused broadband connections with each other.
P2P nodes charge users points for data validation in their networks. This concept, in principle, very similar to the work of miners during validation of transactions.
However, according to a statement Alibaba, points which can earn users based on bitcoin can function as currency and can be exchanged only for Souvenirs in the shop platform.
In a statement the company said:
We reiterate that Alibaba Cloud never released a virtual currency similar to bitcoin, and it will not be available for any platform for mining cryptocurrency.
Despite the ongoing numerous reports of new mining platform from Alibaba, the website is offline P2P Nodes, according to CnLedger.