Today it’s making the big public reveal of it’s technology that could help developers finally build the killer use case atop Bitcoin or Ethereum.
If the operating system connected computers and software, and if browsers connected HTTP to web apps, Alchemy wants to the bridge enabling the blockchain ecosystem.
It’s this middle layer that’s produced Microsoft, Apple, and Google — some of the most valuable companies in the world.
Alchemy replaces the nodes that businesses use to read and write blockchains with a faster, more scalable decentralized architecture.
The two-year-old startup already powers infrastructure for hundreds of businesses serving over one million customers in 200 countries per week, including big names like Augur, 0x, Cryptokitties, Kyber, and the Opera browser.
Yet despite its momentum, it’s immediately clear that Alchemy doesn’t want to become some overhyped blockchain promise that doesn’t deliver.
Through the frustration of spinning up nodes to build anything decentralized, they spotted the opportunity to start something with more potential than college kids’ social app.
In 2019, who uses blockchain?…” Viswanathan explains.
Typically just to get started, businesses have to spend tens of thousands of dollars to set up and operate nodes that can interpret and write to blockchains.
Alchemy uses a whole different decentralized architecture.
The result is that it’s easier to build apps on Bitcoin, Ethereum, and other coins with fewer engineering resources.
“Since using Alchemy, our team has been able to refocus it’s time on building new product features for Augur that we wouldn’t have been able to otherwise” Augur’s director of operations Tom Kysar tells me.
“We used to spend a notable amount of time dealing with infrastructure issues, and now we don’t worry at all.” The prediction market startup writes that Alchemy resolved 98% of reliability issues and made its users’ applications load 3X faster.
He says Alchemy is already making a fair amount of money selling tools and service packages that start in the tens of thousands of dollars.
If this is a massive technology shift, we have chance to build a really foundational company in the space.