Stackr Raises $5.5 Million to Simplify Crypto Development with JavaScript

Stackr, aiming to bridge the gap between traditional web development and the burgeoning field of cryptocurrency, has successfully secured $5.5 million in a funding round to facilitate the integration of JavaScript developers into the world of blockchain.

This latest injection of capital, led by Archetype, with Scalar Capital, Lemniscap, and Spartan Group among the participants, will be instrumental in Stackr's growth. It will enable the company to expand its team, roll out the first version of its product, and appeal to a wider pool of developers keen on transitioning to crypto.

The strategy behind Stackr's initiative is straightforward yet compelling: provide developers who are versed in Web2 technologies the tools they need to develop crypto applications without the steep learning curve of mastering new programming languages. This is made possible due to Stackr's versatile software development kit (SDK), which initially targets JavaScript and plans to support other popular programming languages in the future, such as Python, Go, and C.

"We're determined to pave a Web2 approach to crafting Web3 applications by creating a system that lets developers utilize familiar Web2 tooling to construct decentralized applications," stated Hiten Patel, the business operations lead at Stackr. He elaborated that their SDK will begin with support for well-known languages such as JavaScript and TypeScript, making it accessible to a vast majority of developers worldwide.

The Necessity of Developer Onboarding in Crypto

Onboarding new talent is vital for the crypto industry's continued growth and innovation. According to the Electric Capital’s Developer Report, as of October 1, 2023, the crypto space is supported by an estimated 19,279 developers. This number includes those working full time, part time, and even contributors who may have only committed code once in a three-month period. However, this figure also represents a nearly 30% decline from the previous year, highlighting the urgency for initiatives like Stackr's.

Embracing Modularity Over Monolithic Architecture

In addition to attracting new talent, Stackr is advocating for a more modular approach in developing crypto applications. This modularity allows developers the freedom to decide which aspects of their application to place on the blockchain, a departure from the current, more rigid monolithic design prevalent in the industry.

Monolithic blockchains, such as those of CRYPTO:BTC Bitcoin and CRYPTO:ETH Ethereum, consolidate transaction execution, data availability, and consensus in one location. Modular blockchains offer a contrarian approach, permitting a mix-and-match philosophy for these components. "Adopting a modular framework allows for selecting specific stack components to work with chosen providers," said Kautuk Kundan, founder of Stackr. For instance, users aiming for rapid confirmation times but less ecosystem complexity may opt for a custom relayer like Celestia.

Stackr's hypothesis is that the option to decentralize certain components will entice Web2 companies to experiment with Web3 technologies. "Imagine if you're SHOP Shopify, and you're interested in decentralizing the accounts management system. You could leverage our SDK to effectuate that change without altering any other part of your product," explained Patel.

Shopify Inc. SHOP, a key player in commerce technology, operates a comprehensive commerce service platform across various regions, including Canada, the United States, the United Kingdom, Australia, and Latin America, with its headquarters based in Ottawa, Canada. The example of Shopify illustrates the potential for conventional technology entities to explore decentralization through the novel solutions proposed by Stackr.

Stackr, JavaScript, Blockchain, Funding, Onboarding, Modularity, Cryptocurrency, Development, SDK, Web3