The development of Alchemy combines two key technologies: zero-knowledge cryptography to hide transaction details and abstraction of accounts to store assets in smart contracts.
Despite the fact that the new tool is a support for Alchemy 1 of 39 Blockchain, representatives of the company called integration with the Starknet ZK protocol drive a key task. Experts explain this by the rapid growth of the developer community and the project’s innovative approach to data folding with zero disclosure.
Starknet is a Layer2 solution on Ethereum that allows you to combine transactions and process transactions faster and cheaper. Before sending information to Ethereum, the ZK Rollups smart contract uses “zero-disclosure proof” cryptography to guarantee transactions with the provision of a minimum amount of information.
According to product manager and researcher Gal Ron, Alchemy simplifies the creation of decentralized applications, and Starknet provides the necessary scale and functions.
Alchemy software engineer Alex Miao notes that the new development opens up many opportunities for the UX wallet. Developers can enable custom account permissions, embed security features to run at the wallet level, and create simple transaction flows. Thanks to this, it is possible to create a world in which users and businesses will always be represented by a wallet with a smart contract.