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- 1 Alchemy-led funding round made Cookbook receive an investment worth $2 Million .
- 2 Streamline developers’ work to build Web3 and reduce development costs.
To create the Web3 Developer Support, smart contract registry Cookbook raises $2M. It will lessen the development cost. With this investment, Cookbook CEO Tyler Sehr is excited to continue building the most comprehensive platform for web developers, aggregating everything they need to launch their production apps.
Free Education Content for Web3 builders
The funds will also help to make free educational content for Web3 builders. This will be done with the help of the developer community. This will pay tribute to the Cookbook’s offerings. Its platform offers open-source smart contract templates and access documentation about operating these contracts.
All the funding companies have a robust agenda for investing the funds in smart contract registry cookbooks, but the two keenly interested in Web3 are Alchemy and Mac.
Investors like Alchemy firmly believe that ideas should be brought to reality by developers. It has invested $150,000 to $250,000 per company. They made it open that about three-quarters of investments are in the pre-seed stage.
As known, Web3 gives advantages of controlling data ownership, presenting access to the data, freedom for interactions, and better security. Building smart contracts is a difficult task, which may require Web3 developers to learn a new language.
The developers must find a way to develop highly performant applications. Such security-oriented solutions should be built to keep the security threat under control. The goal of the smart contract registry cookbook is to develop, manage, and scale smart contracts.
The battle-tested codes developed
These tools, in turn, provide developers to secure the battle-tested codes that they are making. Cookbook has served over 1500 developers who have accessed over 3000 smart contracts through the platform.
These services are beneficial for developers as more smart contracts of distinct quality will be available in the market.
There is a huge interest in digital assets these days. This will lead to an increase in the no. of smart contracts developed by developers. But, still, the industry lacks the strong infrastructure of battle-tested open-source smart contract templates in the market.
The Cookbook is the directory for smart contracts. Developers upload or find any type of smart contract within it. It is a community-sourced collection. It can be downloaded and used according to liking.
The developers can offer new smart contracts. If they want, they can also contribute to the quality checking of the existing contracts.To simplify the procedure offered, developers are working to develop easy access to smart contracts and the procedure of operating these contracts.
There is a lot of support from many companies worldwide regarding this development. Still, only a few firms are deeply interested in the development of Web3 and are putting money into it.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
