Real-time cryptocurrency settlements under attack by Alchemy Chain
The Alchemy Pay network has unveiled its evolution into the Alchemy Chain, a Layer 1 blockchain tailored for stablecoin transactions. The new blockchain aims to deliver an extremely fast and scalable payment infrastructure, focusing on improving transaction speed, scalability, and broad adoption in global payments.
Recent upgrades to the 'Cortex Engine,' a core blockchain API architecture, have significantly reduced stablecoin transaction latency by 66%. This means transaction speeds now rival or exceed traditional payment networks like Visa and Mastercard, a critical factor for user adoption in payments. The new architecture supports throughput of hundreds of thousands of requests per second, with node throughput enhanced by 1000 times, pushing the Alchemy Chain towards handling volumes comparable to major traditional payment systems.
Alchemy Pay's infrastructure already supports major players like Coinbase, Stripe, and JPMorgan, with Standard Chartered exploring stablecoin licensing and application scenarios on platforms like Alchemy. The roadmap includes building robust fiat-to-crypto payment channels across 170+ countries, positioning the Alchemy Chain as a backbone for real-world spending using stablecoins and crypto.
Efforts towards dual regulatory approvals are underway, such as in Australia, showing a strategic approach to compliance and mainstream adoption that will facilitate integrations in regulated markets. The Alchemy Chain protocol includes features for liquidity aggregation and instant on-chain currency conversion, enabling real-time transfers and conversions of major and regional stablecoins, including localized tokens like MBRL.
Developers and financial institutions are encouraged to engage with the white paper and stay informed about the network's upcoming phases. Incentive structures and grant programs are planned to attract developer and institutional participation. The strategic shift of Alchemy Pay's Alchemy Chain aligns with increased regulatory clarity, particularly following the U.S. Senate's approval of the GENIUS Act.
The Alchemy Chain's ecosystem strategy supports decentralized applications and enterprise-level services. Further announcements regarding the development of the mainnet, strategic partnerships, and user base expansion are expected. By focusing on the stablecoin segment, Alchemy Pay aims to position itself as a key player in the next generation of digital financial systems.
The Alchemy Chain now supports high-speed, low-cost cross-border payment settlements using stablecoins such as USDT, USDC, EURC, and USDP. The transformation of Alchemy Chain reflects a broader trend within the blockchain industry towards specialized infrastructure. These initiatives aim to catalyse growth within the Alchemy Chain ecosystem and promote wider adoption among financial stakeholders.
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