According to the startup Starkware, the team’s Ethereum layer two (L2) service Starknet has been integrated by the blockchain API and node service Alchemy. Developers can now leverage Alchemy’s infrastructure tools alongside Starknet’s zero-knowledge (ZK) rollup technology.
Starkware Partners with Alchemy in Israel – Israel’s Startup Starkware
Starkware, a blockchain startup announced Monday that it has entered into a strategic partnership agreement with Alchemy. The partnership will allow Alchemy customers to build decentralized finance (defi) and Web3 applications using Starknet, Starkware’s Ethereum layer two (L2) service.
Alchemy, which is basically a blockchain infrastructure company that offers node services to clients and has blockchain APIs. For instance, Alchemy’s Supernode provides API call data for networks like Ethereum, Polygon, Arbitrum, Optimism, and Flow.
Starkware revealedFollow the Alchemy team on Twitter, and other social media remarked that Alchemy’s suite of products will “make it easier and more accessible for the growing number of developers to build on Starknet.”
The L2 product Starknet’s rollups use ZK-based computations that utilize validity proofs and the project claims Starknet gas fees are “100x lower” than layer one (L1) Ethereum fees. The defi perpetuals and derivatives protocol Dydx leverages ZK-based rollup tech that is similar to Starknet’s underlying framework.
“We’re excited about supporting Starknet because we believe that Starknet’s utilization of validity and ZK-rollups offer solutions to core Web3 problems,” Alchemy said in a statement published on Monday. “These solutions increase scalability by bundling transactions together off-chain, and then verifying them on-chain with just a fraction of the costs.” Alchemy continued:
Contrary to Layer 2 solutions like optimist rollups which take longer to confirm transactions transactions, validity rollups instantly verify whether transactions are valid.
Starkware Worth $2 Billion
Starkware revealed at the beginning of February that Starknet Alpha has been launched on mainnet. In November, Starkware raised $50 million in a Series C led by Sequoia Capital, and $173 million in overall capital injections propped the Israel-based startup’s valuation to $2 billion. Eli Ben-Sasson is the co-inventor and co-founder of Starknet, and he believes that this partnership will change everything.
“It means that with Alchemy’s infrastructure, the developer community now can more easily access Starknet, the most cutting edge permissionless scaling platform, harnessing the power of validity proofs,” the Starkware executive remarked in the partnership announcement.
How do you feel about Starkware and Alchemy partnering? Comment below to let us know your thoughts on this topic.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis article serves informational purposes. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or allegedly cause any kind of damage.