KEY TAKEAWAYS
- Alchemy Pay launches Alchemy Chain, a Layer-1 blockchain built on Solana Virtual Machine architecture, to enhance crypto and fiat payment integration.
- The blockchain aims to improve cross-border settlements with high scalability and a Trusted Proof-of-Authority mechanism for secure transactions.
- Alchemy Chain introduces $ACH as a utility token for gas fees, supporting seamless conversion between crypto and fiat currencies.
- New tools like the Meme Launchpad and Meme Telegram Bot simplify development within the Alchemy Chain ecosystem.
Alchemy Pay, a leading provider of cryptocurrency payment solutions, has announced the launch plan for its new Layer-1 blockchain, Alchemy Chain. Built on the scalable Solana Virtual Machine (SVM) architecture, Alchemy Chain aims to support Alchemy Pay’s expanding business operations and transform the integration of cryptocurrency and fiat payments.
Alchemy Chain is designed to become a pivotal element in the evolving payment landscape by facilitating seamless interactions between blockchain-based transactions and off-chain storage. The blockchain’s primary objective is to create a frictionless coexistence of fiat currencies and cryptocurrencies, enhancing transparency, security, and efficiency in cross-border settlements.
The new blockchain will feature a high-scalability infrastructure tailored for large-scale business applications, ensuring smooth interaction between on-chain operations and off-chain storage. Its architecture is engineered to process transactions rapidly and efficiently, providing flexibility and reliability as Alchemy Pay’s user base continues to grow. A key component of the blockchain’s security and transparency is the Trusted Proof-of-Authority (TPoA) mechanism, which ensures the integrity and speed of transaction validation. Additionally, Alchemy Chain will incorporate advanced Layer-2 solutions to enable seamless account mapping and data synchronization, minimizing redundant data storage and optimizing scalability.
The utility token for Alchemy Chain, $ACH, will allow users to pay gas fees. Users can conveniently cover these fees and transactions using either $ACH or fiat currency, with seamless conversion of profits and other on-chain earnings into fiat. Furthermore, Alchemy Chain will implement a stablecoin revenue mechanism, offering users the opportunity to earn yield effortlessly.
The launch of Alchemy Chain will also introduce two essential tools aimed at simplifying processes for developers and its ecosystem projects. The Meme Launchpad provides an intuitive platform to lower technical barriers, facilitating the creation and launch of meme-based projects. Meanwhile, the Meme Telegram Bot offers a streamlined, “light mode” interface for developers to interact with the ecosystem effortlessly.
By advancing its mission to build a cohesive, frictionless payment system, Alchemy Pay reaffirms its commitment to integrating cryptocurrencies into everyday financial systems. Leveraging cutting-edge blockchain technology, Alchemy Chain aims to make crypto payments more accessible, supporting the broader adoption of digital currencies and contributing to the development of the global crypto ecosystem.
For more details, the official announcement can be found here.
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