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LIVE UPDATES • Alchemy Layer 1 Blockchain Unveiled to Boost Crypto Payment Solutions • Bankman-Fried Prison Raided Over Violence Allegations • Too Late for Bitcoin? The Future Belongs to Qubetics, and It’s Happening Now • Digital Asset Investment Products Saw $901 Million in Inflows • Metaplanet Bitcoin Investment Has Now Surpassed 1,000 BTC • Market Overview (Oct 21 – Oct 27): S&P 500 Exceeds Earnings Forecasts Amid U.S. Gov Wallet Hack • Crypto Derivatives Trading Platforms See Surge With Over $40B • Hong Kong Crypto Exchanges Will Be Boosted in the End of 2024 • US Non Farm Employment Report, Q3 GDP & PCE Data Release This Week • A16z Crypto User Estimate: 30–60M Real Monthly Users in 2024

News Alchemy Layer 1 Blockchain Unveiled to Boost Crypto Payment Solutions 1 min - Around 2 mins mins to read

Key Points:

Alchemy Pay announced the upcoming release of its layer 1 blockchain, Alchemy Chain, designed to enhance the integration of crypto.

The Alchemy layer 1 blockchain aims to enable frictionless interactions between blockchain transactions and off-chain storage.

Alchemy Pay, the global cryptocurrency payment solutions provider, pointed to the highly expected release of its native layer 1 blockchain, Alchemy Chain.

Read more: Alchemy Pay Expands To Polygon zkEVM, Paving The Way For Seamless Crypto Payments

New Alchemy Layer 1 Blockchain Alchemy for Enhanced Payment Solutions

On a scalable Solana Virtual Machine (SVM) architecture design, the new Alchemy layer 1 blockchain will help facilitate operations to make Alchemy Pay‘s integration of cryptocurrency and fiat payments different.

Alchemy Chain proposes unlimited communication between blockchain transactions and off-chain storage to position itself in the constantly changing face of payments. The project normally strives to create an ecosystem where fiat and cryptocurrencies coexist, with all efforts channelled toward achieving maximum transparency, security, and efficiency in international settlements.

The Alchemy layer 1 blockchain will incorporate high-scalability infrastructure into large-scale enterprise applications and enable fast processing of transactions efficiently. Its core functionality implements an innovative, Trusted Proof-of-Authority consensus mechanism that ensures the integrity and speed of transactions through its validating node network.

Advanced layer 2 solutions also support seamless account mapping and data synchronization to minimize redundant data storage and maximize scalability.

ACH Token and Developer Tools to Incentivize Project Creation

The ACH token will be the native cryptocurrency of the Alchemy Chain ecosystem, while these tokens will be used to pay gas fees, among other functions. These fees can be paid via ACH or via fiat, with the former offering seamless conversions of profit and other on-chain proceeds into traditional currency.

The Alchemy layer 1 blockchain, with support for both developers and eco-projects, will introduce two major tools: Meme Launchpad for an intuitive create-and-launch platform for meme-based projects and the Meme Telegram Bot, which allows for a smoothed interface in which developers can better interact with the ecosystem.

ACH alchemy Alchemy Chain Alchemy Layer 1 Blockchain Alchemy Pay blockchain layer 1

Author Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Alchemy Layer 1 Blockchain Unveiled to Boost Crypto Payment Solutions - Coincu