FinTech news in Alchemy category
The tool will be compatible with Alchemy-supported blockchains like Ethereum, Polygon, Arbitrum, Optimism and more, Rivabella noted. It also plans to include other protocols and software development kits in the future, he added.
The new offering is a sign of competition between web3 infrastructure providers heating up, as it puts the startup in direct competition with ConsenSys, the company that owns popular node-as-a-service provider Infura, and Alchemy, another widely-used node provider in the industry. Yasmin Razavi, a growth investor at Spark Capital who helped lead the firm’s investment in Tenderly, told journalist that the startup’s new offering came as a result of its developers finding they could not rely on existing node providers for their purposes and deciding to instead build out that capability themselves. The financing came just months after the startup’s Series A round and it was announced in the same month as Alchemy’s $200 million Series C extension, which valued the latter company at $10.2 billion. Blockchain infra startup Tenderly raises $40M after seeing 500% YoY revenue growth One aspect of Tenderly’s offering that differentiates it from other node providers is its transaction simulation platform, which Benčić said is already serving 50 million simulations per month to web3 apps such as Instadapp, Yearn, Safe and Yield.
The company purchased education startup ChainShot, which runs coding bootcamps for aspiring web3 developers, Alchemy co-founder and CEO Nikil Viswanathan told journalist exclusively. Once rolled up into Alchemy, ChainShot will join the crypto infrastructure company’s two other education-related properties, self-paced coding programs Web3 U and Road to Web3. McCabe, who was inspired to found ChainShot after going through a coding bootcamp himself, said the company was bootstrapped before Alchemy bought it. In addition to the founders’ personal capital, which McCabe said included funds formerly in his 401(k), ChainShot covered its costs largely through grants available through its connection to the Ethereum ecosystem as well as through web3 crowdfunding platform Gitcoin.
As proof that web3 is not some passing trend, blockchain infrastructure startup Alchemy announced today that it has closed on a $200 million Series C1 equity round that values the company at $10.2 billion.
Web3 security companies and projects like Certik, Forta, Slithe, and Securify are the equivalents of the code-scanning and application security testing tools that were originally developed for Web 1.0 and Web 2.0 applications.