Alchemy raises its valuation to 10.2 billion to become the AWS of the blockchain

California has set itself the goal of making blockchain accessible to everyone. It is offered in freemium mode, and its platform includes a set of development, debugging, and monitoring tools.

Alchemy, which publishes a development platform dedicated to blockchain technologies, is raising $200 million. The operation raises its value to 10.2 billion dollars. In total, this San Francisco publisher has raised $545.5 million since its launch in 2017. The process is led by Lightspeed Venture Partners and Silver Lake, which was already a shareholder. Andreessen Horowitz (a16z), Coatue Management, DFJ, Pantera, and ADD are back in the pot.

Claiming to be the “AWS of the blockchain,” Alchemy aims to be Amazon’s cloud technology subsidiary for blockchain application developers. Just like AWS, which provides the infrastructure for Uber or even Netflix, Alchemy intends to become a mainstay in the blockchain industry.

Fifteen days before this record high that kicked off its international expansion, the company announced on its blog that it was marketing its platform by ending an extended period of private beta. Thanks to its freemium model, it already has 4 million users and more than 30 billion orders annually. 70% of major Ethereum applications will pass through its infrastructure and development tools.

Alchemy is at the heart of the Web 3.0 revolution by bridging the gap between the seed infrastructure and the developers who will build the ‘killer apps’ of the future.

For Alchemy, the appetite for decentralized, blockchain-like systems goes far beyond the bitcoin craze. According to its leaders, blockchain and cryptocurrency can be compared to Web 3.0. For Ali Yahya, General Partner at Andreessen Horowitz, “Alchemy is at the heart of the Web 3.0 revolution by bridging the gap between the seed infrastructure and the developers who will build the ‘killer apps’ of the future.”

On the user side, Alchemy owns financial institutions and multinational companies such as PwC and Adobe. The company also includes, among its references, pure blockchain and NFT players such as Aave, Axie Infinity, Dapper Labs, Flow or OpenSea. Alchemy has published several case studies on its site, including one for the cryptocurrency Ox (ZRX). The latter relies on the Ethereum blockchain to exchange assets in a peer-to-peer mode.

Free yourself from the complexity of the blockchain

In the origin of Alchemy, there were two alumni of Stanford University, Joseph Lau and Nikel Viswanathan. We owe it to them to create Down To Lunch, a social meeting app that allows you to meet friends during your lunch break. With the aim of using blockchain to improve their solutions, they realized that there is no dedicated development platform.

On the basis of observation, it took the two founders four years to build their offering. the challenge ? Provide an environment that overcomes the complexity of the blockchain and avoids going through code and advanced configuration levels. The leader in this field, the main competitors of the publisher today are Decentology, Gelato Network, and Stardust.

The Alchemy platform consists of four main products. Supernode enables “global” applications to run on the blockchain. In particular, it supports the Json-RPC communication protocol. The second stage of the rocket, Build is a suite of development tools for prototyping, debugging and delivering blockchain applications faster. As for monitoring, it monitors blockchain applications in production and improves their performance by specifically following user behavior. It’s all about dashboards for real-time indicators and automated alerts. Finally, the latest, Notify is a push mode notification system. It notifies users in real time when a transaction is validated or rejected, such as a deposit or purchase.

In terms of the R&D roadmap, Alchemy plays the transparency sheet by putting online developments planned or underway. On this page, users have the opportunity to submit their feature requests. Alchemy can count on a dynamic community of users while its workforce will not exceed 30 employees according to a recent article by Forbes. The company did not respond to our repeated requests for an interview.

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