Alchemy Pay has unveiled its plans to launch Alchemy Chain, a groundbreaking Layer-1 blockchain that aims to revolutionize the integration of crypto and fiat payments. Developed on the Solana Virtual Machine (SVM) architecture, Alchemy Chain is designed to meet the growing demands of Alchemy Pay’s operations.
One of the key features of Alchemy Chain is its ability to facilitate interaction between blockchain transactions and off-chain storage. This creates an environment where fiat and cryptocurrencies can seamlessly coexist and be integrated into the payment system.
The scalability of Alchemy Chain is a major advantage, making it suitable for large-scale commercial use. Its infrastructure allows for the smooth integration of on-chain and off-chain activities while maintaining their respective functionalities. This ensures high transaction velocity, which is crucial as Alchemy Pay’s user base continues to expand. The Trusted PoA (Proof of Authority) security protocol enhances transaction verification by increasing credibility and efficiency.
Furthermore, Alchemy Chain will incorporate optimal Layer-2 solutions to enhance account mapping and data synchronization. This eliminates redundancy and maximizes scalability, making the platform more efficient.
The utility token of Alchemy Chain will be the $ACH token, which can be used alongside fiat currencies to pay for gas fees. This unique feature enables instant conversion of on-chain earnings to fiat without the need to sell Bitcoin. The platform will also implement a stablecoin revenue mechanism to offer users the opportunity to earn yields.
To support developers and eco-projects, Alchemy Chain will introduce two important tools. The Meme Launchpad will simplify the technical complexity of launching meme-based projects. These initiatives demonstrate Alchemy Pay’s commitment to the use of cryptocurrencies in financial transactions.
As a blockchain platform, Alchemy Chain aims to establish itself as a leading solution for accepting crypto payments and promoting the widespread adoption of cryptocurrencies. Through its innovative features and scalable infrastructure, Alchemy Chain is set to transform the way crypto and fiat payments are integrated.