Alchemy Partnered With MATIC To Improve Network Capabilities

Alchemy partnered with MATIC or Polygon, to improve network capabilities and to also supercharge developments by providing more tools for Dapp developers so let’s find out more in our latest cryptocurrency news today.

In a bid to equip decentralized application developers with the needed tools for maximum production, ethereum blockchain developer Alchemy partnered with MATIC to boost its network capabilities. The company made the announcement and stated that the move will supercharge the development of the Ethereum and Polygon network. The partnership will also provide the needed tools to dapp developers enabling them to launch relevant blockchain-related products and services in the near future. Based on the partnerships, dapp developers building top applications on ETH can enjoy a few features of Alchemy and Polygon including high-speed, low-cost transactions, high fidelity developer tools, and maximum security.

Alchemy noted that the development will bring huge interest in DeFi-related applications like Sushiswap, Curve, and Aave. It is also worth noting that both companies have recorded huge feats since they were launched. Alchemy is poised on enhancing the global payments industry and powered more than $22 billion in transactions globally and it is also committed to increasing the number of users. A month ago, the company noted that it will be supporting the pair of ETH scaling solutions thorugh the mainnet launch of the Optimism solution. Optimism will address the challenges of the network like high gas fees, slow transaction speed.

Polygon which focuses on ETH scaling solutions recorded a huge adoption rate in recent times and so far, the full stack scaling solution known as Matic has processed more than 380 million transactions from 1.7 million wallet addresses. While Polygon’s feat could be considered impressive, the project is not relenting as it made huge moves to make the platform a favorite among DeFi users. Last month, Polygon announced that it was partnering with 0x to raise $10 million for the DeFi sector. As per the partners, the funds will be used to support developers and fund relevant projects that will be able to lure one million users into choosing Etheruem’s blockchain.

As recently reported, Alchemy CEO says that the latest DeFi $8 billion growth is at huge risk of gas fees with the Ethereum network getting congested and netting miners over $500,000 per hour. Defi could be suffering from the latest success.