Alchemy Blockchain is a company focused on blockchain development. The company raised $15 million in late 2017 and is based in San Francisco. Its investors include Coinbase Ventures, Pantera Capital, Samsung, and SignalFire. The company’s mission is to create a blockchain developer platform that will help large companies create apps and improve UX. They have conducted research with data from 63 million app users and are working with major corporations to solve UX issues and build more robust blockchain applications.
Although Alchemy began with a few select clients, it has expanded its services to cover the entire Ethereum ecosystem, and is now used by 70 percent of the top Ethereum applications. Its revenue has grown ten-fold since April, and it is highly profitable. Its customers include major banks, top-tier accounting firms, and organizations like UNICEF.
Alchemy has made it easy to interface with the blockchain. Its SDK lets users read data from the Ethereum network and write smart contracts. It also offers a host of tools to manage a decentralized application, including logging, analytics, and alerting. The platform also makes it easy to find all transactions from a certain user, and find the owners of a NFT collection.
The company has also recently raised $80 million from venture capital investors, which puts its valuation at around $500 million. Alchemy is one of the companies to watch in the crypto market. Institutional investors have a tendency to play “picks and shovels” – investing in companies that are making a splash in the blockchain space.
Alchemy claims that its platform is both reliable and scalable. Its decentralized architecture is based on the concept of using special data stores for different types of data. This separates data from the main ledger, and allows for faster and more reliable access. This makes it easier for developers to build applications using blockchain technology and drastically reduces costs.
Developers can easily integrate Alchemy with their projects using its SDK. The SDK supports different API endpoints, including Ethereum APIs and enhanced NFT APIs. Additionally, it supports WebSockets, which allows for direct updates from the blockchain to the client. In addition, the SDK simplifies the web3 development lifecycle and allows users to add new features.
Alchemy has a track record of building enterprise-grade blockchain technology. The company has raised $15 million from Stanford University and has the backing of some notable entities, including LinkedIn’s Reid Hoffman and Yahoo’s Jerry Yang. It has also attracted the attention of mainstream business leaders. The company’s engine has already been used to create a game and an analytics platform. In addition to this, the company has recently partnered with Adobe to offer NFTs through its Photoshop software.
Alchemy also announced an online education platform called the Web3 University that will launch by December 2021. The university will provide resources that cover the entire blockchain development ecosystem and will include tutorials for building dApps.