Solana may be the next big ‘smart contract’ blockchain with its tokens having nearly quadrupled in value during August. Investors can pump in money, but developers to drive innovation and develop use cases are few and far in between — venture platform SolRazr, based out of India’s Silicon Valley, plans to change the status quo.
The startup just raised $1.5 million in seed funding for the promise of setting up the world’s first developer ecosystem for Solana. The company will take in projects being built on the Solana blockchain and help them find capital, provide them with developer tools as well as get them off the ground.
“It’s kind of like Alchemy for Ethereum,” one of the co-founders, Sreekant Kalapur, told Business Insider India in an exclusive interview. Alchemy, based out of the US, helps burgeoning enterprises build reliable DApps by providing the ‘fundamental building blocks’ to harness the potential of Solana’s biggest competitor, the Ethereum blockchain.
“Not only is Solana cheaper than Ethereum to use, but it’s also faster… We’re definitely bullish on Solana.”Sreekant Kalapur, SolRazr co-founder, told Business Insider
Funding was led by blockchain advisory firm Moonrock Capital, Ascensive Assets, and Morningstar Ventures.