As announced in the MAX keynote this morning, Alchemy is a project that allows users to compile C and C++ code to run on the ActionScript Virtual Machine. With Alchemy, developers can now reuse hundreds of millions of lines of existing open source C and C++ client or server-side code on the Flash Platform. The C or C++ code is compiled to ActionScript as a SWF or SWC that runs on Flash Player 10 or AIR 1.5. And Alchemy is available now on Adobe Labs.

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