Blockchain development platform Alchemy said it has acquired Solana developer DexterLab for an undisclosed fee.
The acquisition will accelerate the development of Solana-based Web3 applications to meet growing enterprise demand, Alchemy said in an emailed announcement on Friday.
DexterLab’s technology has previously powered the Solana development of Google and the Solana Foundation, establishing itself as “a go-to infrastructure provider,” according to Alchemy’s announcement.
One of Alchemy’s aims in acquiring DexterLab is to consolidate Solana development alongside that of Ethereum to reduce complexity for projects building across multiple networks.
Alchemy may be be attempting to capture the growing prominence of Solana as a preferred venue for blockchain applications.
While Ethereum remains comfortably the larger blockchain in terms of total-value locked, there are some metrics where Solana can claim the ascendancy. For example, active addresses on Solana have been over 210 million in the last three months while Ethereum and Ethereum Layer-2 addresses are just below 80 million. Transactions on Solana have also outnumbered Ethereum: 4.75 billion to 1 billion.
Read More: Mike Novogratz’s Galaxy Digital Swaps $100M ETH for SOL, On-Chain Data Shows