FinTech news in developer tools 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.

More than 10 of the largest projects on Solana are already working on projects that leverage Backpack’s protocol, according to Ferrante. Ferrante’s iPhone analogy seems particularly apt when one considers that as an ecosystem, Solana has chosen to invest in hardware. The Discord community around Backpack has about 2,000 members today, which Ferrante said has been intentionally locked up until today’s announcement that Coral will launch Backpack in private beta and open-source its code, giving members of the Discord priority access. The Backpack wallet, Ferrante said, is like the iPhone’s iOS operating system, where a user can manage their private keys and access xNFTs, which are like the apps on the iPhone. Ferrante said the Coral team is in close contact with the team behind Saga and that he eventually hopes to see xNFTs run as native apps on the smartphone.

Many hacks and bugs in the web3 space occur because the production system is poorly put together due to lack of ability to build in an early-stage environment, Marchetti said. Long term, Kurtosis plans to continue building tools that simplify engineers’ ability to build on web3, Marchetti said.

The grant sparked a closely collaborative relationship between Nomic and the Ethereum Foundation that resulted in the latter becoming Nomic’s single funding source before Nomic’s pivot to nonprofit status, Zeoli said.