BlocksInform
Margaux Nijkerk
Margaux Nijkerk presented reports on blockchain protocols, highlighting the Ethereum ecosystem. She graduated from Johns Hopkins and Emory Universities and holds an MA in International Affairs. It possesses a very small quantity of eth and other altcoins.
Alchemy, a Web3 developer platform firm, released a new “Transaction Simulation” product designed to make initiating and sending crypto transactions more user-friendly.
Users are often likely to be the target of scams due to a lack of understanding of where they send transactions. Chainalysis, a blockchain analysis firm, recently released a report that blockchain users in 2022 lost nearly $5 billion to scams. Alchemy says its simulation kit aims to build a sort of safety mechanism that lets users ensure their transaction data is correct and that the transaction is going to the right place.
Developers will have "the tools to integrate simulation into their products," moyroud bastien, an alchemy product engineer, said coindesk. Moyroud added that the objective is "to give users more visibility on what is going on."
The new product has three new APIs: "Asset Changes," "Simulation d'execution" and "Bundle Simulation." They can be found on the blockchain Ethereum, Polygone and Arbitrum. (the first two apis are already available, while the third apis will be put into service next week).
How's that working out?
With the first API, the simulator is able to tell with a transaction what enters and leaves the user's portfolio, offering an additional feeling of security.
The second API gives developers a display of some performance-based data.
The third API allows developers to group transactions and run them sequentially (thus one transaction will move automatically after another).
