Bitcoin
$ 48,505
Ethereum
$ 3,495.5
Litecoin
$ 184.00
okex ads

Alchemy Ethereum Developer Platform Adds Support for Optimism

Alchemy has inked a partnership deal with Ethereum layer-2 scaling solution developer Optimism. With the deal, devs on the Alchemy platform will be able to integrate Optimistic Rollups into their applications, offering users highly scalable, & cost-efficient solutions.

Alchemy Integrates Optimistic Rollups

Alchemy, a platform that claims to be focused on providing blockchain developers with the fundamental tools they need to create the future of technology, has joined forces with Optimism, a team aiming to solve Ethereum scalability issues with Optimistic Rollups.

With the new alliance, developers on the Alchemy platform will be able to integrate Optimistic Rollups into their applications to provide users with at least 35x gas fee reduction and more.

For those who are unaware, Optimism’s Optimistic Rollups is designed to significantly boost Ethereum’s throughput, while also slashing gas fees and lowering the network’s latency (transaction confirmation time).

The Optimistic Advantage

Optimism’s layer-2 scaling solution is made up of rollups, transaction sequencers, adjudicators (fraud checkers), and the Optimistic Virtual Machine. The rollups are smart contracts that function as the relay between the Ethereum mainnet and layer-2. Once an Ethereum user initiates a transaction, the data is first received by rollups, which sends it to the sequencers on layer-2. The sequencers are responsible for accurately executing transactions and sending feedback to the rollups.

Notably, just like Polygon (MATIC), Arbitrum, and some others, the Optimistic Virtual Machine (OVM) is compatible with the Ethereum Virtual Machine, enabling developers to migrate their smart contracts in a frictionless manner.

Commenting on the integration of Optimistic Rollups into Alchemy, Nikil Viswanathan, CEO of Alchemy, said:

“Optimistic Ethereum is poised to have a huge impact on the blockchain world with transformational tech and has a talented team making it a reality. We’re excited to help power the ecosystem’s growth.”

If all goes as planned, the Optimism mainnet will go live in July and once that happens, developers on Alchemy will be able to start adding optimistic rollups to their applications.

Backed by Stanford University and some Silicon Valley big whales, the Alchemy platform now supports two layer-2 solutions in Arbitrum and Optimism, and the team has made it clear that will not stop just yet.

At press time, ether (ETH) is exchanging hands for $1,997, and its market cap sits at $230.97 billion, according to CoinMarketCap.

Related Posts

Leave a Reply

Newsletter

Subscribe To Newsletter

For updates and exclusive offers, enter your e-mail below.

Popular Posts

MATIC price has more legs up as Polygon buyers step in
September 18, 2021By
In five days of Alonzo upgrade, the Cardano blockchain has more than 200 smart contracts
September 18, 2021By
Shiba Inu price is in for a treat with 45% upside potential
September 18, 2021By

Advertisement

Video Posts

In
Impact Of Technology On 4.0
July 6, 20210
In
Importance Of Cryptography
July 3, 20210

Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin48,505 0.34 % 0.95 % 8.26 %
Ethereum3,495.5 0.20 % 1.82 % 8.90 %
Cardano2.400 0.25 % 1.02 % 0.92 %
Tether1.000 0.31 % 0.20 % 0.40 %
Binance Coin416.61 0.11 % 1.33 % 3.73 %
XRP1.090 0.24 % 1.04 % 2.99 %
Solana146.70 0.15 % 1.55 % 17.73 %
Polkadot34.91 1.19 % 4.95 % 20.41 %
Dogecoin0.2442 0.26 % 5.15 % 1.69 %
USD Coin1.000 0.22 % 0.24 % 0.28 %

You have not selected any currencies to display