| Emma Avon

Crypto.com and Alchemy are partnering to enhance the exchange’s own native chain. So what exactly does that mean?

The project is clearly aimed at developers who want to implement the kinds of functionality that help deliver more diverse services to end users.

With capability for node hosting and other operational and maintenance assistance, this new platform could lower costs for developers. Alchemy will tailor the developer platform and API to Crypto.com’s existing sandbox, to allow even more versatility for the many pairs that the exchange supports.

Matching Consumer Demand

To really understand how this side of cryptocurrency exchanges work, it might be helpful to use the analogy of a modern app store.

In this analogy, consumer demand is the traffic, in terms of end users who want to put the apps on their devices. Developer growth is how well the app store facilitates designers to get their applications into the store and delivered to user audiences.

In the partnership, Alchemy will help Crypto.com to improve how its “makers” evolve tooling, and make it easier to port these modular builds to where they can be useful.

In adding Alchemy’s brainpower to the equation, Crypto.com leaders are hoping they can better compete with high-profile exchanges. For example, there’s Binance, where Changpeng Zhao and crew have already been able to integrate a launchpad and developer tools for the pairs that BNB supports. Where outside observers have been apt to give Binance accolades for its fiat and crypto pairings, and on-ramps to crypto assets in general, its developer tools also promote more expansive use and traffic.

Having a more robust developer platform is likely to help Crypto.com, which has been seen as a safe and well regulated place for individual traders to do business. Here’s how Crypto.com CEO Kris Marszalek describes the new changes in recent press statements:

“Expanding our ecosystem and bringing in the best partners to support development on the Crypto.com Chain has been a top priority. 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.”

Marszalek also details other advances, such as the Crypto.com Chain Explorer and Crossfire, (and) the Crypto.com Mainnet dry-run, which starts January 18.

“Alchemy is super-excited to be partnering with Crypto.com to build out a developer platform for their new chain,” says Alchemy CEO Nikil Viswanathan, describing the result as a “game-changing ecosystem.”

It makes sense to expect that venues like TechCrunch, Bloomberg and others will be paying attention to this sort of innovation, and the Crypto.com Chain development in particular, as defi takes on traditional finance in a rapidly changing global economy. Look for more as the two companies take their plans public and unveil something new to complement other vanguard efforts in defi and blockchain asset trading.

Crypto.com’s CRO token is sitting at #25 on CoinCodex, and trading at $0.07 as of January 14th

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