Alchemy Pay has unveiled its plan to launch Alchemy Chain, a new Layer-1 blockchain, in a bid to revolutionize the integration of crypto and fiat payments. The announcement was made through the company’s official account on X. Alchemy Chain, built on the Solana Virtual Machine (SVM) architecture, aims to meet the increasing demands of Alchemy Pay’s operations.
Alchemy Chain is designed to enhance the payment structure by enabling interaction between blockchain transactions and off-chain storage. The goal is to create an environment where fiat and cryptocurrencies can seamlessly coexist. The infrastructure of Alchemy Chain is highly scalable and specifically tailored for business use on a commercial scale. This ensures the smooth integration of on-chain and off-chain activities while maintaining their functionalities. The result is a high transaction velocity, which is particularly advantageous as Alchemy Pay’s user base continues to grow.
One of the key features of Alchemy Chain is its unique consensus algorithm, Trusted Proof of Authority (TPoA), which enhances the credibility and efficiency of transaction verifications. In addition, Alchemy Chain will incorporate optimal Layer-2 solutions to improve account mapping and data synchronization, eliminating redundancy and maximizing scalability.
The utility token of Alchemy Chain will be the $ACH token. Users will have the option to pay gas fees using $ACH or fiat currencies, allowing for instant conversion of on-chain earnings to fiat without the need to sell Bitcoin. Furthermore, a stablecoin revenue mechanism will be implemented, providing users with the opportunity to earn yields.
To support developers and eco-projects, Alchemy Chain will launch two key tools: the Meme Launchpad, which reduces the technical complexity of launching meme-based projects, and an eco-project support program. By integrating these features, Alchemy Pay demonstrates its commitment to utilizing cryptocurrencies in financial transactions. As a blockchain platform, Alchemy Chain aims to establish itself as a leading gateway for crypto payments and promote the widespread use of cryptocurrencies.
