SINGAPORE, Oct. 28, 2024 /PRNewswire/ — Alchemy Pay, a world-leading crypto payment solutions provider, today unveiled its launch plan of its Layer-1 blockchain, Alchemy Chain. Built on a scalable Solana Virtual Machine (SVM) architecture, Alchemy Chain is designed to support the growing needs of Alchemy Pay’s business operations and revolutionize the integration of crypto and fiat payments.
Alchemy Chain is positioned to become a cornerstone of the evolving payment landscape by enabling seamless interaction between blockchain-based transactions and off-chain storage. Its ultimate goal is to establish a system where fiat currencies and cryptocurrencies coexist without friction, enhancing transparency, security, and efficiency in cross-border settlements.
Alchemy Chain will introduce a high-scalability infrastructure specifically crafted to accommodate large-scale business applications, facilitating seamless interaction between on-chain operations and off-chain storage. Its architecture is engineered to process transactions rapidly and efficiently, ensuring flexibility and reliability as Alchemy Pay’s user base continues to expand. At the heart of the blockchain’s security and transparency is an innovative Trusted Proof-of-Authority (TPoA) mechanism, which ensures the integrity and transaction speed of validating nodes. In addition, Alchemy Chain will integrate advanced Layer-2 solutions that enable seamless account mapping and data synchronization, minimizing redundant data storage and optimizing scalability.
$ACH will serve as the utility token of Alchemy Chain, allowing users to pay gas fees. Users can conveniently cover gas fees and transactions using either $ACH or fiat, with seamless conversion of profits and other on-chain earnings into fiat currency. Additionally, Alchemy Chain will implement a stablecoin revenue mechanism, providing users with the opportunity to earn yield effortlessly.
The launch of Alchemy Chain will also introduce two critical tools aimed at simplifying processes for developers and its eco-projects. The Meme Launchpad offers an intuitive platform designed to lower technical barriers, facilitating the creation and launch of meme-based projects. Meanwhile, the Meme Telegram Bot provides a streamlined, “light mode” interface for developers to navigate and interact with the ecosystem effortlessly.
Alchemy Chain will further Alchemy Pay’s mission to build a cohesive, frictionless payment system, bridging fiat currencies and cryptocurrencies. Looking ahead with Alchemy Chain, Alchemy Pay reaffirms its dedication to advancing the integration of cryptocurrencies into everyday financial systems. By leveraging cutting-edge blockchain technology, Alchemy Chain will help make crypto payments more accessible, supporting the broader adoption of digital currencies and contributing to the development of the global crypto ecosystem.
Stay informed with the latest updates on Alchemy Chain by following our official channels on X, Telegram and Discord.
About Alchemy Chain
Alchemy Chain is a Layer1 blockchain purpose-built for high scalability in payments, seamlessly integrating on-chain business with off-chain storage to foster a more reliable ecosystem. Serving as a comprehensive payment platform, Alchemy Chain incorporates Layer 2 solutions, featuring account mapping and seamless data synchronization for faster settlements. Through innovative approaches such as Trusted Proof-of-Authority, Block-Wing, ACH Ramp Protocol, and Layer 2 solutions, Alchemy Chain revolutionizes the blockchain payment landscape by enhancing security, optimizing performance, and enabling scalable development for dApps and transactions.
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SOURCE Alchemy Pay
