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Stackr Labs Realize $5.5 Million Funding to Build Blockchains 

Posted on November 9, 2023

Stackr has hailed the fresh funding realized in the recent round to facilitate its transition towards blockchain. Stackr hailed the participants in the round in raising $5.5 million to help onboard additional developers to crypto. 

Stackr’s statement indicated that the fresh funding was possible under the leadership of Archetype. The firm recognized the input of Scalar Capital, Spartan Group, and Lemniscap, alongside other investors who actively participated in the latest round. 

Stackr intends to allocate a portion of the fund to establish a team to launch the product’s initial iteration. Also, it intends to attract additional developers seeking to onboard the crypto projects.

Stackr Labs’ SDK to Help Onboard Developers in Blockchain Industry

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Stackr is deploying a simple plan that will allow Web2 developers to build a crypto application of their choice without the need to nurture expertise in a new programming language. The objective is possible via the flexible software development kit (SDK) offered by Stackr.

Stackr is unveiling the project with JavaScript with an elaborate plan to add Python, C, and Go. 

Stackr, head of business operations Hiten Patel, reiterated the firm’s desire to offer Web2 ways to build Web3-based applications. The approach will feature a system allowing developers to leverage the familiar web2 tooling to create decentralized applications.

Patel indicated that Stackr will leverage the SDK in supporting Web2 programming languages such as Typescript and Javascript. The language chosen for initial support is suitable given the accessibility of Typescript to developers globally. It aligns with the firm’s objective to optimize the developers onboarding the crypto industry. 

Patel reflected on a recent report by Electric Capital tracking developers. The October 1 report indicated the existence of crypto developers at 19279 globally. Electric Capital decried the figure that featured full-time and part-time developers. Also, the figure featured one-time developers with a single contribution to GitHub in a three-month rolling window. 

Electric Capital’s report revealed that crypto developers had plunged nearly 30% since October 2022. The Stackr business operations executive lamented the decline since failure to attract new builders leaves the crypto industry in a bleak future. 

Stackr Offering Modular Development Experience

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Stackr intends to get the fresh blood of developers into the coding ecosystem. Besides, the firm targets providing modular development experience to allow the developers to pick and select the portions of applications they desire to onboard on the blockchain. 

The provision of modular development experience contrasts with the usual crypto development within the monolithic design space. The need to embrace modular design has triggered a growing debate within the crypto community, with developers saying it would become the pacesetter.

Patel observed that Monolithic blockchains, including Ethereum and Bitcoin, whose transaction execution, consensus, and data availability are locked in a single place. Such differs from modular blockchains, which are unique and allow the users to mix and cross-match the components. 

Stackr’s founder, Kautuk Kundan, hailed the successful funding round that will ease onboarding developers into the modular blockchains. In particular, he considered modular blockchain as allowing the developers to decide the portion of the stack they desire to give the provider. 

Kundan indicated that modular blockchain allows the developers to choose their preferred security. He proposed that individuals seeking faster confirmation without ecosystem overhead would embrace custom relayers such as Celestia or alternatives.

Kundan observed that the modular blockchain allows individuals to choose components they would decentralize. The Stackr Lab’s team is betting that the capability would yield an exciting experience for Web2 companies when experimenting with Web3 technology.

Patel proposed that developers could replicate the Shopify case and choose to decentralize accounts all on-chain. The Stackr Labs executive confirmed that they are utilizing its SDK, thus saving developers from the need to adjust their entire product. Instead, Stackr’s SDK mandates changing just the single piece.


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