Leading altcoin project Alchemy Pay has announced its plan to launch a Layer-1 Blockchain named Alchemy Chain. This development will allow users to pay gas fees with either fiat or the native ACH token. The announcement spurred a rapid increase in ACH’s price, signaling strong market interest.
Alchemy Pay to Launch Alchemy Chain L1 Network
Alchemy Pay, a crypto payment provider, has revealed its plans to introduce Alchemy Chain, a Layer-1 Blockchain aimed at meeting the “growing commercial needs” of its operations. Built on Solana Virtual Machine (SVM) architecture, Alchemy Chain will facilitate seamless interaction between off-chain storage and on-chain transactions. The goal of the project is to establish a system where “fiat and cryptocurrencies coexist,” reinforcing Alchemy Pay’s commitment to bridging traditional and digital finance.
Unveiling launch plan for #AlchemyChain, an ultra scalable Layer-1 blockchain designed to unite fiat and crypto in a frictionless payment system.
⚡High-scalability adopts SVM
🔒Innovative Trusted PoA security
💸 $ACH & fiat supported for gas fees
⛓On-chain earnings to fiat… pic.twitter.com/sCgdIhAelG
— Alchemy Pay|$ACH: Fiat-Crypto Payment Gateway (@AlchemyPay) October 28, 2024
Designed for large-scale commercial applications, Alchemy Chain will offer a scalable infrastructure enabling smooth interaction between on-chain operations and off-chain storage. With its architecture, the platform promises flexibility and reliability, ensuring quick and efficient transaction processing as Alchemy Pay’s user base continues to expand. ACH will serve as the utility token for Alchemy Chain, allowing users to cover gas fees and providing a stablecoin revenue mechanism for easy income generation.
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ACH Price Soars on Blockchain News!
The announcement of Alchemy Chain and ACH’s role as a gas payment option fueled a sharp increase in ACH’s price. The token surged from $0.018 to $0.01975 within hours, demonstrating significant investor enthusiasm. Though it later retreated slightly, ACH was trading at $0.0192 with a daily gain of around 5%. Trading volume also saw a notable 116% increase, reflecting heightened interest among investors and traders.
Samsung Pay Integrates Alchemy Pay
As reported by The Bit Journal, Alchemy Pay integrated with Samsung Pay on October 8, updating its virtual card service. This integration allows crypto holders to spend digital assets directly through Samsung Pay, one of Samsung Electronics’ popular payment and digital wallet services. A representative from Alchemy Pay indicated that this partnership is expected to drive demand from indirect users who can now access Alchemy’s services through Samsung’s vast user base.
The latest developments suggest a strong growth trajectory for Alchemy Pay, backed by innovative blockchain solutions and strategic partnerships.
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