Stanford University has recently provided money to fund a new blockchain and cryptocurrency startup that says it wants “to be the Microsoft for blockchain,” reports Bloomberg.
The startup is called Alchemy, and it plans to improve blockchain infrastructure and provide a variety of services for developers in the space, among other things. So far, it has brought in around $15 million from top founders in Silicon Valley.
Many top blockchain projects work with Alchemy, such as 0x, Binance Wallet, Opera, Gods Unchained, and OpenSea, among other projects. According to Alchemy’s website, the platform offers a top industry API, top developer tools, and analytics for developers and companies to take advantage of while working on their project.
Interestingly, Alchemy even claims that developers can “grow your user base on the same scalable technologies behind Facebook and Google.”
The project also works with Ethereum, Bitcoin, and the Litecoin blockchains for now. However, it plans to add support for upcoming platforms like Facebook’s Libra, Cosmos, Tezos, and more.
Overall, these types of infrastructure advancements are exactly what is needed for blockchain networks to improve and for companies to get more involved in this space, among other things.
2019 has been the year of project developments, as more and more blockchain companies and networks were able to improve the technology and ensure that it is reliable enough to offer what businesses in the mainstream need.