Alchemy is a leading cryptocurrency payment solution and technology provider in Asia Pacific that powers online and offline merchants with fast, secure and convenient hybrid crypto-fiat payment systems and solutions.
Alchemy and its partners in the hybrid payment ecosystem, the positioning of Alchemy is to provide open source protocols and rapid product development platforms for our ecosystem partners to have access to fast, secure, convenient, flexible and fast-growing global payment solutions. These payment solutions are built based on the decentralization, smart contracts and consensus mechanisms from blockchain technology.
As such, our core positioning is to empower our ecosystem partners (shown in the graph below) by providing the infrastructure of payment solutions which are built upon the blockchain technology.
Alchemy’s protocol is easily Deployable on
Public Blockchains – allowing the
acceptance of a broad range of
Alchemy enables Fast ande Secure Transactions by using scaling solutions such as Lightning Network、Raiden Network and State Channel Network
Flexible Payment Models available to support industry needs, including Pushpay and Pullpay as well as combined or split payments
Alchemy can Expedite Payments for cryptocurrencies that do not support Lightning Network via Atomic Swap and Submarine Swaps
Machine learning and Al to Mitigate Fraud Risk and Enhance Security of Network
In-built strategies to Hedge Depreciation Risk of Cryptocurrency Price
Simple and Customizable
Use of smart contracts made simple via a visual, simple and streamlined interface
High Customizability of Smart Contracts to meet different business needs.
The Technological Advantages
- Alchemy payment consensus protocol can be deployed on various public blockchains, for example, Bitcoin, Ethereum, Stellar, EOS, Vite, etc., and at the same time, integrate Layer 2 payment solutions including Lightning Network, Raiden Network and State Channel Network.
- Alchemy provides
i) offline cryptocurrecny acceptance solutions over smart POS and mobile devices,
ii) online cryptocurrency payment gateway, and
iii) fast access to various applications for online API, SDK and mainstream plugins, for example, wordpress, magento, zencart, etc.
- Pioneering in PULLPAY protocol in the payment industry: Supporting blockchain to reauthorize two payment methods — PULLPAY and lightning network PULLPAY — to meet the needs of various scenarios in online and offline subscription.
- Offering payment and settlement solutions from crypto to fiat and from fiat to crypto.
- Providing an integrated solution for State Channel Network.
Developer Use Case
Hybrid Fiat and Crypto Payment SDK
RPG blockchain games using State Channel Network
PULLPAY: Allow merchants to scan consumers’ wallet
PULLPAY: Allow merchants to directly debit from consumers’ wallet without scanning
PULLPAY: Automatic/Regular deductions
Fiat and Crypto payment gateway for DAPP
Mining fee replacement (e.g. paying with ERC20 tokens without Ether)
Secure and fast fiat and crypto transactions using Alchemy’s Plugin/SDK/API，
White label services to quickly set up payment hybrid gateway services
Using Alchemy’s platform to develop C2C exchanges and more
CRM services such as loyalty programs and points consumption system
The following graph illustrates a tokenized ecosystem to some extends. The mechanism is outlined under the graph.
- Based on the Alchemy payment consensus protocol (Alchemy), partners can offer merchants a cryptocurrency bill payment solution, including SDK, Plugin, API and/or Gateway (one-stop rapid access).
- The supply and demand strategy based on Alchemy’s quantitative transaction risk model, the real-time dynamic exchange rate, payment, currency conversion and network mobility manages the risk caused by the large fluctuations of the cryptocurrency.
- Based on Alchemy, the two-layer network expansion schemes such as Lightning Network and Raiden Network are integrated and optimized to compete with fiat payment, accelerate payment and improve experience, and popularize cryptocurrency.
- Based on Alchemy, make an offline solution decentralized for the interaction between fiat and cryptocurrency, and empower partners who possess business networks/resources.
- Alchemy can reward its payment ecosystem participants by issuing and distributing tokens, which come from the transaction profit and the token reserve.
Alchemy is collaborating with ecosystem partners to softly launch the application in various scenarios, for example, online entertainment industry, cross-border payment, offline payment acceptance, etc., in order to test the business model of Alchemy and optimize the Alchemy crypto payment solutions.
On one hand, the technological advantages of Alchemy blockchain-based payment solutions have been continuously strengthened through the collaboration with blockchain partners.
On the other hand, by spreading the Alchemy crypto payment solutions, we will be able to empower our ecosystem partners like payment companies and industry solution providers. These help expand the application scenarios of cryptocurrencies and accelerate the launch of blockchain applications.
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