What is the underlying blockchain technology of USDC?

3 answers

• Dec 17, 2021 · 3 years ago
  USDC, which stands for USD Coin, is a stablecoin that is pegged to the US dollar. The underlying blockchain technology that supports USDC is Ethereum. Ethereum is a decentralized platform that enables the creation and execution of smart contracts. USDC tokens are ERC-20 tokens, which means they are built on the Ethereum blockchain. This allows for secure and transparent transactions, as well as easy integration with other Ethereum-based applications and services.
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• Dec 17, 2021 · 3 years ago
  USDC is built on the Ethereum blockchain, which is one of the most popular and widely used blockchain platforms in the cryptocurrency industry. Ethereum's blockchain technology provides the necessary infrastructure for USDC to operate as a stablecoin. By leveraging Ethereum's smart contract capabilities, USDC can ensure the stability of its value by being backed by US dollars held in reserve. This makes USDC a reliable and transparent digital currency that can be easily transferred and used for various purposes within the Ethereum ecosystem.
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• Dec 17, 2021 · 3 years ago
  USDC is backed by a consortium called Centre, which is a collaboration between Circle and Coinbase. Centre is responsible for the governance and operation of USDC, including ensuring the stability and security of the underlying blockchain technology. USDC is built on the Ethereum blockchain, which provides a proven and secure infrastructure for the issuance and transfer of digital assets. The use of Ethereum also allows for easy integration with other decentralized applications and services, making USDC a versatile and widely accepted stablecoin in the cryptocurrency market.
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