Alchemy Pay Launches L1 Alchemy Chain Integrating SVM and Implementing ACH Support for Fiat Currency Exchange
Payment service provider Alchemy Pay recently announced the launch of its L1 blockchain, Alchemy Chain, which integrates an L2 solution utilizing the Solana Virtual Machine (SVM) as its underlying technology. This initiative aims to support the integration of on-chain transactions and off-chain data while incorporating account mapping and data synchronization technologies to accelerate settlement speed.
Alchemy Chain also enhances payment security and optimizes performance through its unique innovations, including Trusted Proof-of-Authority (TPoA), Block-Wing, and ACH Ramp Protocol.
**Application Model and Infrastructure of Alchemy Chain**
Alchemy Pay’s design goal for Alchemy Chain is to create a highly scalable payment platform for large-scale commercial applications, increasing interoperability between on-chain operations and off-chain storage, while ensuring fast transaction speeds and high efficiency, capable of maintaining flexibility and stability as the user base grows.
Alchemy Chain employs its proprietary technology: the Trusted Proof-of-Authority (TPoA) verification mechanism, which ensures the security and speed of node validation. It also introduces L2 scaling solutions to reduce data redundancy and optimize overall scalability. The architecture of Alchemy Chain is suitable for maintaining transaction flexibility and stability in the context of an increasing user base.
**ACH Supports Gas Fees and Fiat Currency Exchange**
The Alchemy Pay token, ACH, can be used on Alchemy Chain, allowing users to pay gas fees and transaction costs using both ACH and fiat currency. This enables seamless conversion of profits and other on-chain earnings into legal tender. Furthermore, Alchemy Chain plans to implement a stablecoin yield mechanism in the future.
**Introduction of Launchpad and Telegram Bot to Promote Meme Project Development**
The launch of Alchemy Chain also features the introduction of a Meme Launchpad and a Meme Telegram Bot, aimed at lowering technical barriers to facilitate the establishment of meme projects and providing a “lightweight” interface for developers to easily interact with the system.
(Convenience stores turn into cryptocurrency exchanges! Payment provider Alchemy Pay offers cash-to-crypto services at convenience stores in Taiwan. Is Alchemy Pay a VASP in Taiwan?)
