Blockchain development platform Alchemy exits closed beta with official public launch

Alchemy, a platform that supports the growth and development of blockchain applications, announced its public launch on Tuesday. 

The launch comes three years after the San Francisco-based company was founded. The platform provides development and infrastructure tools for over $7.8 billion worth of on-chain transactions per year, 70% of top blockchain initiatives, and 60% of assets locked in Decentralized Finance protocols and apps.

By launching publicly, the platform said it wants to give every developer the platform and tools they need to build blockchain applications. 

“Our mission is to make blockchain accessible to all developers to bring the magic of blockchain to the world,” said Alchemy co-founder and CEO Nikil Viswanathan. 

Co-founder and CTO Joe Lau said Alchemy’s main goal is to equip developers with the means to develop ambitiously in the blockchain ecosystem. 

“Many people want to build skyscrapers but all they have to do so are hammers and shovels,” Lau said. “Through Alchemy, we want to provide them with the cranes, trucks and other tools to build.”

The company’s current customers a range of notable ecosystem projects and startups, including Maker, Dapper Labs, Kyber Network, Shapeshift and Augur. Alchemy's investors include Stanford University and crypto exchange Coinbase. 

“Developer platforms are crucial to the adoption of new technologies. As the defacto standard in blockchain, Alchemy already powers the most sophisticated teams,” said lead investor and Pantera Capital partner Paul Veradittakit. “Their public launch makes the most powerful platform and infrastructure available to everyone, accelerating the industry towards mainstream adoption.”

In terms of next steps, CEO Nikil Viswanathan said the firm plans to roll out additional products over the next few months that will make it easier for developers to build apps.