ACHUSD4
Alchemy Pay / USD4
crypto

Alchemy Pay is a payments solution platform that provides a gateway to connect the cryptocurrency and fiat economies. Not only does Alchemy Pay power the acceptance of cryptocurrencies through traditional payment protocols, but it also guarantees commercially viable settlement speeds by connecting with adaptation layers of blockchains and layer-2 networks. At a high level, the operation of the entire Alchemy Pay network is built upon the merchant node network. This key foundation is not only responsible for the operations and maintenance of the ecosystem's payment structure, but it also plays a fundamental role in ensuring all capital flow operations run smoothly. Payment and settlement transactions run through the nodes who are typically merchants on the network. On a more granular level, the protocol makes use of a plethora of technologies to provide fast transaction solutions for merchants, consumers and developers. The adaptation layer, pushpay and pullpay protocol and atomic swap lie at the heart of the protocol's architecture and are highlighted below: Blockchain Adaptation Layer: By employing the adaptation layer of the blockchain, the protocol can easily be deployed on various public chains. At the moment, Raiden Network, Lightening Network and State Channel Network have all been integrated into the protocol's infrastructure. - PushPay and PullPay Protocol: These technologies allow for three modes of payment on the platform - combined payment, subscription payment, and targeted payment. PushPay automatically transfers ACH from a payer to a payee from basic initiation actions like scanning the payee's/merchant's QR code. PullPay handles the pre-authorization process the payer has to go through to set up the automatic payment system. - Atomic Swap: Cross-chain payment and settlement transactions are powered through Atomic Swap. Hash timelock contracts and hash functions make the transactions fraud-resistant while ensuring the transactions are fulfilled within a predefined period of time.