You may have heard of Dapper Labs, Maker, Kyber Network, 0x and Bancor, but the platform these teams used to bring their blockchain projects to life has not received the same attention. That could change with today’s public launch of Alchemy, the development blockchain platform behind the projects of these and many other teams.
Start-up estimates that 70% of the top ETH startups use its technology, including approximately 60% of the assets currently locked under decentralized finances (DeFi) contracts. Games like CryptoKitties and Gods Unchained also rely on the Alchemy development platform.
Alchemy, blockchain platform that solves the most difficult problems for developers
Alchemy was previously only available in a closed beta version for teams that worked closely with the startup. However, today’s launch means that anyone can access the same platform and start building the infrastructure behind their own blockchain applications.
Co-founder and CTO Joe Lau said that blockchain application developers would like to build skyscrapers, but the tools they usually have are not capable enough to complete the job. He likened Alchemy’s products – Supernode, Build, Monitor and Notify – to power tools.
“Alchemy has been designed over the years to work with more than a hundred teams, including team leaders like 0x, Kyber, Augur, Maker, CryptoKitties and many more,” Lau explained. “Because we are behind some of the largest and most advanced applications today, we have been able to solve the platform so that the most challenging problems can be solved at every stage of development.”
In addition to the main blockchain players using this technology, Alchemy also has significant supporters. The startup received $ 15 million during the first round of funding last year and has a deeply diverse list of investors. It includes names from PayPal founder Peter Thiel and investor Charles Schwab, to rapper Jay Z, actor Will Smith and Japanese footballer Keisuke Honda.
Tools are currently available for Ethereum, Bitcoin and Litecoin. It also plans to support Libra, Polkadot, Dfinity, Cosmos and Tezos.
“We’ve worked very hard to build a platform that solves the toughest problems for developers, and it’s rewarding to see how it’s empowered the teams we collaborate with as a result. We’re incredibly excited to provide every single developer with a product that has been battle-tested at scale in production by the most sophisticated teams in the industry, and we can’t wait to see what people build.”
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