After recent reports were released stating that Alibaba, the Chinese e-commerce business, had released its very own cryptocurrency mining platform, the company has now denied that its new platform is connected to digital currencies or the mining of such currency.

An official statement on the company's website revealed that P2P Nodes, Alibaba's recently launched platform, has been falsely described as being related to cryptocurrency. The statement continued to explain that the new platform is a peer-to-peer (P2P) Content Delivery Network (CDN) service, prepared by Alibaba Cloud.

The new platform is designed to permit users to advance the speed of their network through sharing unused broadband connections. Users of the system will receive points for confirming data. This idea is parallel to the process in which Bitcoin miners gain bitcoins after processing transactions on the system.

To conclude, Alibaba confirmed that P2P Nodes are not based on cryptocurrencies, will not work as currency and can only be traded for items stored in the system's online store. The company reiterated that Alibaba Cloud has never supplied a currency like Bitcoin, and it will not support any mining platforms. Currently, the P2P Nodes website is not online.