Cryptocurrencies – FinanceBrokerage
Binance has decided to add IMX and ACH tokens to its platform
Binance announced today that it will be listing Immutable X and Alchemy Pay tokens. The exchange will also open trading for the IMX / BTC, IMX / USDT, IMX / BUSD, ACH / BUSD, ACH / BTC and ACH / USDT trading pairs on January 10, 2022. Both IMX tokens and ACH tokens are currently in the spotlight. Alchemy Pay is a payment system. However, unlike many other similar platforms, it only focuses on retail point-of-sale transactions and peer-to-peer remittances.
According to the team, customers have the option of making payments in fiat as well as stablecoins and other cryptos on traditional payment systems. The company developed ACH as a platform utility token. The team will use it to create incentives for the introduction of the platform. Token holders will also be able to process payments using cryptocurrencies.
In addition, the platform will support the staking of ACH tokens. Users who use ACH benefit from tiered platform benefits such as memberships for Netflix and Spotify, airport lounge privileges, etc.
Alchemy’s goal is to provide open source protocols along with platforms for rapid product development. It offers ecosystem partners fast, secure, flexible and convenient global payment solutions that are also growing rapidly. Based on decentralization, consensus mechanisms from blockchain technology and smart contracts, this platform has great potential.
With the company’s and its eco-partners’ rich experience in mobile payment applications, the team is confident that it will lead the payment industry’s technology application in the blockchain era. It plans to provide new solutions for cases where traditional payment is more popular with merchants.
How will alchemy achieve its goal?
The company aims to use decentralized smart contract payment arrangements. That, along with the innovation incentives of various payment technology companies, is a good place to start. However, the team plans to hire people with technical talent and to reach consensus with the industrial community through the agreement. It will guarantee the transparent implementation of rules with technology to ensure that cryptos become an important part of real transactions in the near future.
Alchemy has an experienced team with a deep understanding of the operating experience and the payments industry. Its members are familiar with the global payment technology trend of wallet payment, as well as corporate fundraising, cross-border acquiring, multi-tiered selling solutions, and other traditional payment programs. The company also has a cheap network in the tech community.
The platform will provide an open and scalable alchemy consensus protocol. Ultimately, it aims to establish standards for the payments industry and promote change in the payments industry.
The team will also provide other interesting features, such as lightning-fast network technology to enable real-time transactions of existing electronic payments. Users have the benefit of choosing how to make their payments. In fact, the company offers the most comprehensive support for various cryptocurrencies.
The token holders become part of decentralized infrastructure networks, governance and operational networks. The team plans to improve operational efficiency while significantly reducing operational costs.
In addition, Alchemy will provide basic payment functionality and solutions for large-scale commercial applications, along with combined payment, targeted payment, subscription payment, and multiple types of account systems.
What about Immutable X and its token?
Immutable X is a relatively new L2 scaling solution designed explicitly for non-fungible tokens on Ethereum. The company also launched the platform’s native IMX governance token. Traders can use it to get log revenue.
The Immutable X team believes that NFT users and developers don’t have to choose between the security and networking effects of Ethereum. So the company decided to give its users a premium experience and offer a state-of-the-art protocol for NFTs that would allow projects to build on Layer 2 Ethereum.
The company wants to achieve its goal through several core components, including ZK-Rollup Scaling Engine, API Abstraction Layer, NFT-Enabled Wallets and Platform SDKs.
Immutable X will combine NFT-specific exchange and evidence logic with the new roll-up technology developed by StarkWare. The result will be the most advanced NFT trading tool ever built. Such rollups allow for great scalability and user experience while preserving the underlying security of Ethereum. They stack up a large number of transactions, generate a validation for them, and then send that proof to an L1 smart contract to accomplish this.
According to the Immutable X team, its roll-up enables more than 9,000 NFT transfers, mints and trades per second. This meets and even exceeds the scope required for mainstream NFT projects.
The company also packages this scaling engine into a set of powerful REST APIs to make building NFT applications easy. Every interaction on the Immutable X platform, from trading to minting to broadcasting, is as simple as an API call. It converts complex asynchronous blockchain interactions, which often last minutes or hours, into synchronous REST API calls. This is a powerful upgrade to existing blockchain development paradigms.
Investors don’t have to interact directly with smart contracts. Defi beginners can start better projects faster.
How will the NFT-enabled wallets work?
Unlike other blockchains or sidechains, this platform supports all desktop Ethereum wallets without forcing customers to switch networks. In addition, it offers an intermediate layer that enables an NFT-specific wallet experience of first-class quality. This feature enables the company to support a thriving third-party marketplace ecosystem without posing a security risk. Investors can rely on the Immutable X Link to keep their transactions safe.
The company uses platform and programming language-specific software development kits, also known as SDKs. The latter enables partners to integrate more easily into Immutable X. The team is currently offering a Typescript SDK implementation. Defi users can use it to easily integrate the protocol into websites.
The SDK also enables typed access to the company’s APIs and wallet, regardless of the platform. In the future, the team will offer SDKs for all common programming languages as well as development platforms such as iOS, Android, Unity and Unreal. Combined with the APIs, these SDKs enable partners to create NFT projects in hours instead of weeks on this platform.
IMX token is already very popular, and given the potential of the project, its price is likely to increase significantly in the coming months.
After Binance’s decision to add IMX and ACH tokens to their platform, it first appeared on FinanceBrokerage.