Crypto payment provider Alchemy Pay has announced plans to launch its own L1 public chain, which the company said will target large-scale commercial applications.
It is understood that the L1 blockchain will be called Alchemy Chain and built on the Solana (SOL) virtual machine architecture. According to the announcement on December 11, the new L1 will provide a payment system that allows users to trade with fiat currencies and cryptocurrencies. The platform will also provide a user-friendly ecosystem that connects on-chain and off-chain processes, chain abstraction, stablecoin revenue mechanisms, and revenue generation. In addition, the blockchain network will integrate the L2 network. Alchemy Chain will be released through the meme Launchpad and meme Telegram robots, aiming to take advantage of the growing popularity of meme-based projects. Previously, the project announced preliminary plans for the L1 blockchain in late October 2024. (Crypto.news)