Ant Financial Unveils SaaS Version of Its Database Solution OceanBase

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A recent press release reports, “Ant Financial today launched the Software-as-a-Service (SaaS) version of its technology product OceanBase, a financial-grade distributed relational database that has been a key computing infrastructure for Alipay since 2010. OceanBase is highly stable, scalable, reliable and budget-friendly compared to other traditional database solutions. In October 2019, OceanBase was ranked number one in terms of performance by the Transaction Processing Performance Council (TPC), a global non-profit that defines transaction processing and database benchmarks. It became clear in 2010, two years after Alibaba first launched its annual 11.11 Global Shopping Festival, that traditional commercial database solutions could no longer keep up with growing user demand for a seamless, stable, scalable, and reliable payment experience on Alipay. In response, Ant Financial began to develop OceanBase, and finally replaced all legacy database solutions with this new financial-grade product in 2016.”

The release continues, “During the 11.11 Global Shopping Festival in 2019, Alibaba’s Gross Merchandize Volume (GMV) reached USD$38.4 billion in just 24 hours. This exceeded the total online retail sales of USD$24.6 billion generated during U.S. retail’s biggest shopping holidays in the same year, from Black Friday to Cyber Monday, according to data compiled by Adobe. OceanBase adeptly and swiftly processed all transactional database requests during the 11.11 Global Shopping Festival, including at a peak of 61 million per second.”

Read more at Business Wire.

Image used under license from Shutterstock.com

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