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USDC Is Moving To Other Blockchains Starting With Algorand Allowing For 1,000 Transactions Per Second With Minimal Fees
Summary: Popular dollar-backed stablecoin USDC is now available on the public Algorand blockchain in an effort to bring the coin to blockchains outside of Ethereum. Bringing USDC to Algorand means the asset has layer 1 scalability and it is now reporting more than 1,000 transactions per second while carrying a fee of only 1/20 of a ...
Popular dollar-backed stablecoin USDC is now available on the public Algorand blockchain in an effort to bring the coin to blockchains outside of Ethereum.
Bringing USDC to Algorand means the asset has layer 1 scalability and it is now reporting more than 1,000 transactions per second while carrying a fee of only 1/20 of a penny, as reported by Cointelegraph.
Running USDC on multiple blockchains will allow the coin to support emerging DeFi projects and larger financial institutions, Coinbase CFO Alesia Haas said in a statement.
The Centre Consortium which oversees dollar-backed stablecoin USDC announced its intention to bring the coin to other blockchains in June 2020. Coinbase and Circle sit behind the Cosortium as co-founders.
By Emily Mason
Tags: Algorand,CENTRE Consortium,Coinbase,Ethereum,USDC
Link: USDC Is Moving To Other Blockchains Starting With Algorand Allowing For 1,000 Transactions Per Second With Minimal Fees [Copy]
