Polygon (MATIC) on Alchemy makes it easier for developers

Karthik Subramanian

Alchemy, which is a toolkit that is described as the AWS of the blockchain world, has announced that it has added Polygon to its arsenal which means that the developers can use Alchemy to develop on Polygon.

polygon

For a long, developers on ethereum have been using Alchemy for building Dapps but with the increases in gas fees seen on the ETH network and the congestion in the network as well, developers have been looking at other Layer 2 protocols to start building on. It is noted that the gas fees on layer 2 are sometimes 500 times less than what is seen on the ETH network.

Alchemy did realise this thought process among the developers and felt that it was time to start integrating the layer 2 protocols on its toolkit which is why it integrated Arbitrum in May, Optimism in June and now, this month, it has added Polygon.

Polygon has been, by far, the most sought-after layer 2 protocol and a number of leading projects have shifted their base to Polygon and that list includes Aave, Kyber Networks, and others.

Alchemy Product Manager Mike Garland said that “Alchemy’s Polygon tie-up is symbiotic. Alchemy’s developers gain access to Polygon and teams building on Polygon gain access to Alchemy’s developer platform, along with its infrastructure and developer tools. It’s a combo meant to fuel ecosystem growth.”

We are seeing a lot of dapps being developed on Polygon over the last few months and almost every month, we are also looking for some new dapp getting released by the developers. Apart from the major ones listed above, none of the other major apps have shifted their base from ethereum to polygon but it remains to be seen how long they would stick along. They are all probably waiting for ETH 2.0 which is expected to be bigger, faster with low gas fees but if it doesn’t deliver on the expectations, we could see more of the developers and their projects getting shunted into layer 2 protocols and maybe even other blockchains as well.

ETH 2.0 is expected to be launch sometime in the next year but irrespective of what happens with it, the developers would like to believe that both ETH and Polygon would be able to co-exist and help to build the ecosystem and carry it even further as the blockchain development world needs ethereum which has been the bedrock of all the technology growth that has happened in this industry so far.

 

  • Read this next

    Fintech

    Nuam selects Vermiculus for clearing system in Chile, Colombia, and Peru

    “We are proud to deliver a system that plays an integral role in the core of this historical merger, empowering one of Latin America’s most crucial markets with VeriClear’s state-of-the-art technology, together with our deep market expertise.”

    Retail FX, Uncategorized

    Moomoo launches super app in Malaysia

    “As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”

    Executive Moves

    FXPA elects Joe Hoffman as new Chair in its 10th anniversary

    “The opportunity to serve as Chair of the FXPA is truly an honor, and I am committed to upholding the exceptional work of a FXPA. Given the recent market fluctuations due to global tensions, inflationary pressures, shifts in monetary policy, as well as the outcome of the US election and the risk of recession, brings the potential for more FX volatility in 2024. I am dedicated to expanding the FXPA’s membership and I’m excited about collaborating with all members to echo the unified voice of the FX market.”

    Market News

    Eurozone Fights Stagnation Whilst Stock Indices Rally

    European stock markets are defying economic gloom as they continue to soar to all-time highs, showcasing resilience amidst broader economic challenges.

    Web3

    Lisk Partners with Indonesia’s Communications Ministry to Boost Web3 Startup Ecosystem

    Discover the strategic partnership between Lisk and the Indonesian Ministry of Communications and Informatics, aimed at propelling local Web3 startups to new heights through comprehensive support and education.

    Executive Moves

    Admirals appoints founder Alexander Tsikhilov as CEO

    “Striking the right balance between sourcing new talent and developing and harnessing the strength and capabilities of our current workforce, is key to achieving our vision.”

    Executive Moves

    GCEX appoints Ignacio Corral and Helen Man to UK operation

    GCEX has announced the appointment of Ignacio Corral and Helen Man to its UK FCA-regulated operation based in London as the firm further expands its global business on account of increasing demand for its digital prime brokerage services.

    Retail FX, Uncategorized

    Public.com to shut down UK operation after eight months

    Public.com’s UK withdrawal reflects broader market dynamics, where increased competition among retail investing platforms, including newcomers like Robinhood and Webull, pressures companies to consolidate their efforts in their most profitable or strategic markets.

    Industry News

    UK FCA commits to swifter enforcement actions

    “Reducing and preventing serious harm is a cornerstone of our strategy. By delivering faster, targeted and transparent enforcement, we will reduce harm and deter others. We will also make greater use of our intervention powers to stop harm in real time.”

    <