Alchemy CEO Nikil Viswanathan
Alchemy CEO Nikil Viswanathan speaking at the Pantera Summit 2019. CoinDesk

On August 11, one of the world’s leading infrastructure providers, Alchemy, announced the launch of its full suite of products via Twitter. As of now, Alchemy’s blockchain developer platform is open to everyone and the startup is ready to bring its services to blockchain developers.

Alchemy is a blockchain development platform that assists developers in building the infrastructure behind their own decentralized apps. According to the CEO of Alchemy, Nikil Viswanathan, more than 70% of top Ethereum applications with around $2.8 billion worth of assets (close to 60% of all assets locked up in DeFi contracts) rely on the company’s solutions for access to blockchain data.

“Right now, building with blockchain, it’s like trying to build a skyscraper with a hammer and a shovel. Alchemy is bringing the construction equipment so it’s easier to build things,” Viswanathan said. “We are a pipe to a decentralized network, there are other pipes and people can use whatever pipes that they want.”

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According to Viswanathan, the startup facilitated around $7.5 billion worth of on-chain transactions over the course of last year. After such massive growth in such a short time, more DeFi ecosystems are expected to join the platform as some of Alchemy’s services have also been made free for public use.

Viswanathan further described the new version:

“Our mission is to make blockchain development accessible to every developer. Now anyone can sign up and use the same tools powering the biggest companies in crypto.” 

Alchemy is said to be one of the most promising and attention-deserving startups in the blockchain environment. A good reason for this is the fact that some of the investors in the company include names like Peter Thiel, Jay-Z, and Will Smith. Thiel is said to be one of the most successful tech investors of the 21-st century, comparable in success to entrepreneurs like Elon Musk and Jeff Bezos. Along with public support from celebrities like Jay-Z and Will Smith, users have yet to see the real potential of the platform.

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