USDC now capable of 1000 transactions per second with near-zero fees
As part of an initiative bringing stablecoin USD Coin (USDC) to other blockchains, USDC is now available on the public Algorand blockchain. “This is a defining milestone for frictionless mainstream payments as well as sophisticated financial applications,” Algorand Inc.'s founder, Silvio Micali, said in the statement, adding: “This launch brings together the convenience of USDC and an advanced protocol for global financial exchange in which Layer-1 smart contracts are as simple and secure as ordinary payments.”.
In June 2020, Centre unveiled its Multichain USDC Framework, aiming to see the token launch on other chains in addition to its original Ethereum-based token. “Expanding USDC from Ethereum to additional blockchains like Algorand will ensure USDC has the flexibility to support everything from emerging DeFi projects to large-scale financial institutions," Coinbase CFO, Alesia Haas, said in the statement.
