Crypto Gloss

Alchemy

Alchemy is a blockchain developer platform founded in 2017 by Nikil Viswanathan (CEO) and Joe Lau (CTO) in San Francisco that provides node API infrastructure for Ethereum and 20+ other blockchains, alongside enhanced developer APIs (NFT API, Token API, Transfers API), webhooks, mempool monitoring, and the Alchemy SDK — backed by a16z and Coatue at a peak valuation of $10.2B and widely considered the preferred Web3 developer infrastructure platform.

Alchemy competes directly with Infura and pivoted from gaming infrastructure in 2019 to blockchain developer tools, applying the same insight that AWS applied to traditional cloud: developers were bottlenecked by unreliable node infrastructure.

Background

Viswanathan and Lau initially built Alchemy as a gaming infrastructure company before pivoting to blockchain developer tools in 2019. Their thesis was that Web3 developers were bottlenecked by unreliable and feature-poor node infrastructure — the same problem that AWS solved for traditional cloud applications. Alchemy raised aggressively and expanded its API surface well beyond basic node access to include higher-level data APIs that save developers from complex on-chain data processing.

Key Products

Product Description
Alchemy Node API Ethereum, Polygon, Arbitrum, Optimism, Base, Solana, and 15+ chain RPC endpoints
NFT API High-level API for fetching NFT metadata, ownership, transfers, and collection stats
Token API Token balances, transfers, and metadata across EVM chains
Transfers API Historical transaction data without running an archive node
Notify (Webhooks) Real-time webhook alerts for on-chain events (address activity, mined transactions)
Mempool Watcher Monitor pending transactions before they are mined
Alchemy SDK JavaScript/TypeScript library wrapping Web3.js and ethers.js with enhanced Alchemy methods
Alchemy Subgraphs Subgraph hosting (migrated from The Graph)

Alchemy vs. Infura

Factor Alchemy Infura
Founded 2017 2016
Owner Independent ConsenSys
Primary Differentiator Enhanced APIs, developer experience Default MetaMask backend
Higher-Level APIs Yes (NFT, Token, Transfers) Limited
Reliability Strong SLA focus Outages in 2020-2021
Chain Coverage 20+ chains 10+ chains

Client Base

Alchemy powers a large proportion of major DeFi and NFT projects including OpenSea, Aave, MakerDAO, Compound, Uniswap, and others. Its developer-focused approach — better documentation, more responsive APIs, richer tooling — has made it the dominant platform for new Web3 project development.

History

  • 2017 — Alchemy founded by Nikil Viswanathan and Joe Lau in San Francisco, initially as a gaming infrastructure company.
  • 2019 — Pivot to blockchain developer tools. Alchemy reorients as a blockchain node API platform targeting Ethereum developers. First major clients onboarded.
  • 2020–2021 — Rapid growth during DeFi summer and NFT boom. Alchemy becomes the infrastructure backbone for major DeFi protocols (Aave, MakerDAO, Compound) and NFT platforms (OpenSea). Infura outages in 2020–2021 drive developers toward Alchemy.
  • 2021 — $250M raise at $3.5B valuation (Series C). Investor base includes a16z, Coatue, and others.
  • 2022 — $200M raise at $10.2B valuation (Series D). Peak Web3 infrastructure valuation.
  • 2022–2023 — Bear market consolidation. Alchemy continues serving major clients through the market downturn, expanding chain coverage and API surface.
  • 2024 — Multichain expansion continues. Coverage expands to 20+ chains including L2s (Arbitrum, Optimism, Base, zkSync) and Solana.

Common Misconceptions

“Alchemy runs the blockchain for its clients.”

Alchemy provides node API access — it runs infrastructure that connects developers to blockchain networks, not the blockchain itself. The underlying blockchains (Ethereum, etc.) operate independently.

“Alchemy has a token.”

Alchemy is a venture-backed private company with no publicly traded token as of 2024. Developer platform access is subscription or usage-based.

Social Media Sentiment

  • Developer communities (GitHub / Stack Overflow): Alchemy receives strong reviews for documentation quality, API reliability, and developer experience. Frequently recommended in Web3 developer forums over Infura.
  • X/Twitter: Active developer community engagement. Alchemy’s blog and tutorials are widely shared in Web3 developer circles. Product announcements (new APIs, chain support) generate consistent engagement.
  • Crypto media: Alchemy is regularly cited as one of the leading Web3 infrastructure companies. Its funding rounds and client roster generate mainstream crypto coverage.

Last updated: 2026-04

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