Changing the Crypto Landscape Through Alchemy
Alchemy is a cryptocurrency solution provider based in Pacific Asia where they carry out their operations. Alchemy already has the credibility for fast, safe, and secure digital payment for Its clients far and wide. Also, it has a token with the ACH symbol with the brand name as Alchemy.
The Goals of Alchemy
One of their goals is to ensure faster product development and open-source protocol for its users. In order to give customers a safe and swift payment system, Alchemy issues a policy on a smart contract basis, consensus mechanism, and decentralization. Alchemy has been in the game for long; with its eco-partners in mobile application, the team is clearly good enough to take over the payment industry, application in the blockchain era, and a solution for the traditional use of payments popular among merchants . The team is made up of people with experience in the payment industry, which further strengthens the goals. Alchemy aims to create a payment protocol through community consensus. They aspire to build a decentralized, trust powered infrastructure that will speed up the adoption of cryptocurrency into our daily life, and the most important of all, to return the rights of payment to the merchants and customers.
Existing Problems Problems Pointed Out by Alchemy
Alchemy refers to the fact that the centralized industry giant actively controls the electronic payment system. This has caused many problems like the complicated rules and guidelines, inefficient dispute management (when a problem arise), discretional right, and high fees. It also made mention of the high cross-border transaction merchants will always have to deal with it and many other problems that come with using the centralized payment system. The blockchain that is seen as the messiah of the centralized payment system also has its challenges. Alchemy points out some of its defects. Part of which is, the inability of blockchain to accommodate larger users. Only the basic users enjoy the benefits the most. The dwindling infrastructure of blockchain is also a point to note. Also, the operational support system could be better. This has made the quality not good enough.
How The Alchemy Platform Will Solve the Existing Problem
Alchemy has promised to be the savior of the problem that exists in the blockchain and electronic payment system. To fulfill their promise, they have formulated the mode in which they would use in achieving this feat.
Opportunity to Use multiple Currency Alchemy offers its users the freedom to choose any currency among the various currency available. However, this opportunity does not pass to cryptocurrency and tokens.
Automated Payment With Smart Contract Technology
Many cryptocurrencies issued on the blockchain platform carry out their transactions with the help of smart Contract Technology. Alchemy is not an exception; It makes use of smart contracts simpler and thereby deploys it, engineers to apply the software on the platform to fully make the payments on Alchemy automated for its users. Also, it offers an easy interface for its users to edit the smart contract to their needs.
Important links on Alchemy Are:
Whitepaper - https://www.achpay.org/static/files/V3.8_WP-E_Alchemy_20190906.pdf
Website - https://www.achpay.org/alchemy_english.html
Writer - Grumbled