Alchemy’s infrastructure tools can now be used by developers alongside Starknet’s zero-knowledge rollup technology.
Starkware, an Israeli startup, partners with Alchemy
Starkware , a blockchain startup, announced Monday that it has entered into a strategic partnership agreement with Alchemy. Alchemy customers will be able to create decentralized finance (defi), and Web3 applications with Starknet, Starkware’s Ethereum layer 2 (L2) service.
Alchemy, which is a blockchain infrastructure company, provides node services to clients and offers blockchain APIs. Alchemy’s Supernode, for example, provides API call data to networks such as Ethereum, Polygon and Arbitrum, Optimism and Flow.
Starkware shared the Alchemy collaboration via Twitter. further commented that Alchemy’s suite of products “will make it easier and more affordable for the growing number developers to build on Starknet.”
Starknet’s L2 product Starknet uses ZK-based computations to calculate rollups. Starknet claims Starknet gas costs are 100x lower than layer one (L1) Ethereum charges. Starknet’s underlying technology is used to create the Dydx defi perpetuals, derivatives protocol .
Alchemy stated that Starknet’s use of validity and ZK rollups offers solutions to core Web3 issues. Alchemy said, “These solutions increase scaleability by bundling transactions off-chain and then verifying them onto-chain with only a fraction of costs.”
However, unlike other Layer 2 scaling solutions such as optimistic rollups, which can take longer to confirm transactions transactions, validity rollups use what is called validity proofs to immediately prove whether transactions are valid.
Starkware valued at $2 billion
Starkware revealed at the end February that Starknet Alpha had been deployed to mainnet. Starkware, an Israel-based startup, raised $50 million in a Series C under the leadership of Sequoia Capital. $173million in total capital injections helped propel its valuation to $2Billion. Eli Ben-Sasson is the co-inventor and president of Starkware and co-founder.
Starkware’s executive stated in the partnership announcement that “it means that with Alchemy’s infrastructure, developers now have more access Starknet (the most cutting-edge permissionless scaling platform), harnessing the power to validity proofs.”