‘100x Lower Than L1 Fees’ — Alchemy Integrates Ethereum L2 Product Starknet to Increase Web3 Scalability

Ethereum

According to the startup Starkware, the team’s Ethereum layer two (L2) service Starknet has been integrated by the blockchain API and node service Alchemy. Developers can now leverage Alchemy’s infrastructure tools alongside Starknet’s zero-knowledge (ZK) rollup technology.

Israeli startup Starkware partners with Alchemy

On Monday, blockchain startup Starkware announced that the team had signed a strategic partnership with Alchemy. The partnership will allow Alchemy customers to build decentralized finance (defi) and Web3 applications using Starknet, Starkware’s Ethereum Layer 2 (L2) service.

Essentially, Alchemy is a blockchain infrastructure firm that provides node services and blockchain APIs to clients. For instance, Alchemy’s Supernode provides API call data for networks like Ethereum, Polygon, Arbitrum, Optimism, and Flow.

starware revealed the Alchemy collaboration on Twitter and beyond remark that Alchemy’s suite of products “will make it easier and more accessible for the growing number of developers to build on Starknet”.

The L2 product Starknet’s rollups use ZK-based computations that utilize validity proofs and the project claims Starknet gas fees are “100x lower” than layer one (L1) Ethereum fees. The defi perpetuals and derivatives protocol Dydx leverages ZK-based rollup tech that is similar to Starknet’s underlying framework.

“We are delighted to support Starknet as we believe that Starknet’s use of ZK validity and rollups offers solutions to key Web3 issues,” Alchemy said in a Monday statement. “These solutions increase scalability by aggregating off-chain transactions and then verifying them on-chain with only a fraction of the cost.” The chemistry continues:

But in contrast to other Layer 2 scaling solutions, such as optimistic rollups that can take longer to confirm transactions, validity rollups use what are called validity proofs to instantly prove if transactions are valid or not.

Starkware valued at $2 billion

The Alchemy integration follows Starkware revealing in late February that Starknet Alpha has rolled out to mainnet. In November, Starkware raised $50 million in a Series C round led by Sequoia Capital, and $173 million in aggregate capital injections brought the Israel-based startup’s valuation to $2 billion. Starknet co-inventor and Starkware co-founder and president Eli Ben-Sasson thinks the partnership will be a game-changer.

“It means that with Alchemy’s infrastructure, the developer community now can more easily access Starknet, the most cutting edge permissionless scaling platform, harnessing the power of validity proofs,” the Starkware executive remarked in the partnership announcement.

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