Alchemy Ethereum Developer Platform Adds Support for Optimism

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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, according to a blog post on June 22, 2021.

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.

Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.