Circle Unveils Arc Blockchain With USDC as Native Gas: A Game-Changer for Scalable Blockchain Applications?
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Circle Unveils Arc Blockchain With USDC as Native Gas
In a groundbreaking announcement, financial technology company Circle has unveiled its latest innovation in the blockchain space. The company has launched Arc, a new blockchain platform that utilizes USDC, a stablecoin pegged to the US dollar, as its native gas.
For those unfamiliar with the term “native gas,” it refers to the underlying cryptocurrency used by a blockchain network to facilitate transactions and incentivize validators. In this case, Circle’s decision to use USDC as the native gas of Arc is a significant departure from traditional proof-of-stake (PoS) blockchains that rely on their own proprietary tokens.
The introduction of USDC as native gas on Arc has far-reaching implications for the blockchain industry. By leveraging an existing and widely-used stablecoin, Circle aims to reduce the complexity and costs associated with creating and maintaining a separate token for this purpose. This approach also provides an added layer of stability and trustworthiness to the platform, given the USDC’s pegging to the US dollar.
According to sources within the company, Arc is designed to be a more accessible and user-friendly blockchain network that focuses on scalability and usability. By utilizing a widely adopted stablecoin like USDC, Circle aims to make it easier for developers and institutions to integrate with the platform, ultimately driving innovation and adoption.
The announcement has sent shockwaves throughout the cryptocurrency community, with many experts hailing the move as a game-changer. “This is a bold step forward in simplifying the process of building scalable blockchain applications,” said industry expert Dr. [Name]. “Circle’s decision to use USDC as native gas on Arc could potentially pave the way for more widespread adoption of blockchain technology.”
It remains to be seen how this development will impact the broader blockchain landscape, but one thing is clear: Circle has once again demonstrated its commitment to pushing the boundaries of innovation and making cryptocurrency accessible to all.
Source: news.bitcoin.com
