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Israeli company StarkWare created StarkNet which is the layer-2 (L2) scaling product for the Ethereum blockchain is now going live integrating with crypto infrastructure giant Alchemy's development kit. Alchemy provides support to large swath of Web3 along with customers ranging from banks to crypto exchanges because of the integration of StarkNet solution. The users of Alchemy now can build services using low-cost StarkNet tools. Alchemy said in a statement "StarkNet’s utilization of Validity and ZK-rollups effectively solves core Web3 problems. Validity rollups increase scalability by bundling transactions together off-chain, and then verifying them on-chain with just a fraction of the cost,". As per StarkWare co-founders Uri Kolodny, L2 technologies, like StarkNet, will be "crucial" in serving a "massive anticipated rise" in blockchain use. According to other co-founders of StarkWare, Ben-Sasson, the StarkNet platform is like "the missing link in tech evolution which makes blockchain usable for everything" and will ultimately "propel us to a Web3 reality." The founders expect that within the next year StarkNet to be fully decentralized. In a Series C funding round, StarkWare raised $50 million brought the firm’s valuation to $2 billion. Not only Alchemy is the only major crypto player to deploy StarkNet, but NFT gaming startup Immutable is also planning to make its heavy transaction operations on StarkNet. For this recently it has raised $200 million.

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