There's some big news right now in the world of cryptocurrency exchanges. Crypto.com has announced its partnering with Alchemy, which provides blockchain development platform functionality, for the prospect of creating Crypto.com’s own developer platform, Crypto.com Chain.
Alchemy’s Enterprise Track Record
With $15 billion in on-chain transactions under its wing for the past year, Alchemy is a popular choice for Ethereum-based smart contracts. Reports show that 70% of top Ethereum applications rely on alchemy's design services. Alchemy’s Ethereum API provides reliability and helps businesses to scale their blockchain efforts, while also providing key kinds of information verification in a new decentralized world. In promoting its services worldwide, Alchemy touts the experience of its team, saying that its mission is "to provide developers with the fundamental building blocks they need to create the future of technology, and lower the barrier to entry for developers to build blockchain applications."
The Crypto.com Ecosystem
For its part, Crypto.com has built an excellent reputation as a safe exchange, with security and privacy best practices implemented, and with its development of products like the Crypto.com App, the Crypto.com Visa Card, the Crypto.com Exchange and Crypto.com DeFi Wallet, Crypto.com provides traders and investors with versatility and diverse choices.
Part of what's exciting with the new partnership is the ability to reduce costs for developers. This in turn may allow Crypto.com to compete on a more level playing field with top exchanges like Binance, which have already grown their ecosystem to a certain point, marrying strong consumer activity with excellent sandbox functionality.
For example, there's word that Crypto.com Chain can help with node hosting and streamline the ways that developers get their ideas made.
A Vision Towards the Future
In describing the excitement from their end, Alchemy's CEO, Nikil Viswanathan, invokes the semantic web, showing how enthusiasm for this project relates to the broad evolution of the Internet in general.
Viswanathan said in a recent press statement:
"Alchemy is super excited to be partnering with Crypto.com to build out a developer platform for their new chain. As part of our mission to enable developers to build amazing products using blockchain, we're always looking for new partners that have the potential to usher in the next generation of Web3. We are excited to have found such a partner in Crypto.com, and are looking forward to seeing what people create within this new game-changing ecosystem."
Crypto.com Top Brass are Also Gung-Ho.
"We’re excited to partner with Alchemy to create tools that simplify and speed up the ability for developers to build on the Crypto.com Chain," Crypto.com CEO Kris Marszalek said of the announcement.
Crypto.com already has great traffic and robust buy-in from the investor community. Now it can grow and scale along with Alchemy to deliver even more in a safe and regulated environment. Users can buy and sell many different assets, with low fees, and the confidence that comes from working in a controlled and vetted environment.
Crypto.com’s CRO token is sitting at #24 on Coinmarketcap, and trading at $0.07 as of January 14.