Alchemy Blockchain Platform Backed By Jay-Z Goes Live

The Jay-Z backed Alchemy Blockchain platform has just opened its doors to the public and its tools now can be used by startups such as Dapper Labs and Maker. Following our latest blockchain news today, we are reading more about the platform.

The Alchemy blockchain has gone up today estimating that its tech is used by 70% of the top ETH startups on the market, including 60% of the assets locked up in Decentralized Finance (DeFi) contracts. Even platforms such as Gods Unchained and CryptoKitties rely on this platform. Alchemy was available only for a closed beta for teams that worked closely with the startup but the launch today means that anyone can access the platform and will be able to create an infrastructure behind the dapps.

1/🚀 Thrilled to announce – Alchemy Supernode: The Industry-Leading Ethereum API!

Thank you to the 200+ companies like @Dharma_HQ @Bancor @dydxprotocol @AaveAave @0xProject @myetherwallet for trusting us to power their applications! https://t.co/KzhdDhwkjt

— Alchemy (@AlchemyPlatform) August 7, 2020

The co-founder of the platform CTO Joe Lau suggested that the blockchain app developers have so far had rudimentary tools that are not capable of getting the job done. He linked the products Notify, Build, Monitor, and Superndoe as power tools:

 “Alchemy was designed over years of deep collaboration with over a hundred core teams in the space, including leading teams like 0x, Kyber, Augur, Maker, CryptoKitties. Because we power some of the largest and most sophisticated production applications today, we’ve been able to architect the platform to solve the most challenging problems at every stage of development up through production applications at scale.”

In addition to the major blockchain players using the technology, Alchemy has some major backers. The startup raised about $15 million Series A round in 2019 which has diverted the list of investors that including PayPal founder Peter Thiel and the investor Charles Schwab along with Jay-Z and Will Smith. Alchemy’s tools are not live on Ethereum, Litecoin, and bitcoin with more plans to add support for Dfinity, Cosmos, Tezos, Polkadot, and Libra. the startup had no trouble gathering some major dapp developers while in closed beta which helped Alchemy to refine the tools to ease blockchain development:

 “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.”