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Crypto payment provider Alchemy Pay has announced its upcoming layer-1 blockchain, Alchemy Chain, a move aimed at streamlining fiat and cryptocurrency integration. Built on a Solana Virtual Machine (SVM) architecture, the new blockchain is expected to support Alchemy Pay’s payment ecosystem by offering scalable infrastructure for high transaction volumes.  This development has boosted interest in Alchemy Pay’s native token, ACH, which will serve as the utility token for covering gas fees on the network. Alchemy Chain Role In Fiat & Crypto Payment  Alchemy Chain is designed to create a frictionless experience between fiat and cryptocurrency payments, aligning with Alchemy Pay’s goal of bridging traditional and digital finance.  The new blockchain will use a Trusted Proof-of-Authority (TPoA) mechanism to enhance security and transaction speed. With support for both ACH and fiat payments for gas fees, users will have more flexibility in managing transaction costs. “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,” the company stated. This dual-payment structure is a unique feature that could appeal to a broader user base, especially businesses that operate in both fiat and crypto. Developer Tools and Support for Memecoin Projects In addition to Alchemy Chain’s core functionalities, Alchemy Pay plans to launch tools to support developers and memecoin projects. These tools include a “Meme Launchpad,” which will allow creators to launch meme-based tokens with ease, and a “Meme Telegram Bot” that provides a user-friendly interface for interacting within the Alchemy ecosystem.  The company’s support for the memecoin sector is a strategic move to attract developers and tap into the growing demand for community-driven tokens. The introduction of these developer tools reflects Alchemy Pay’s commitment to building a comprehensive ecosystem that caters to diverse projects. By simplifying entry for…

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Filed under: News - @ October 28, 2024 11:25 pm