USDC

There are various types of cryptocurrencies, such as meme coins and privacy coins, but one category that stands out for stability is the stablecoin. In a market where volatility is the norm, stablecoins like USDC offer much-needed consistency. USDC is a blend of financial stability and blockchain technology, mirroring the value of US dollars. As digital assets continue to grow, USDC has become a major player in the cryptocurrency world. In this article, we will give you a clear overview of USDC.<h2 id="header-0">What is USDC?</h2>USDC, also known as USD Coin, is a type of cryptocurrency known as a stablecoin. Stablecoins are pegged to the currencies of countries at a 1:1 ratio, meaning 1 USDC is equivalent to 1 US dollar. It&#39;s important to note that USDC is an ERC-20 token, which means it was built on the Ethereum blockchain. However, it&#39;s not limited to just Ethereum-USDC; it is also compatible with Algorand, Solana, Noble, Polkadot, Stellar, and other blockchains.Unlike other types of cryptocurrencies, such as memecoins or privacy coins, whose value often fluctuates depending on market conditions, stablecoins like USDC have a fixed value. This means that the value of a single USDC will always be equal to 1 US dollar, making it unique in a world filled with constant volatility.Related:<a href="https://cryptotale.org/usd-stablecoin-usdc-sees-surge-in-market-presence-as-supply-hits-34-billion/" rel="noopener noreferrer nofollow">https://cryptotale.org/usd-stablecoin-usdc-sees-surge-in-market-presence-as-supply-hits-34-billion/</a><h2 id="header-1">History of USDC</h2>The stablecoin USDC was announced in May 2018 and launched in September of the same year. It was developed by the Centre Consortium, a joint venture between payment provider Circle and one of the largest crypto exchanges in the world, <a href="https://cryptotale.org/coinbase-partners-with-stripe-to-integrate-usdc-and-enhance-crypto-onboarding/" rel="noopener noreferrer nofollow">Coinbase</a>. The Centre&#39;s main goal was to create a coin that combined the stability of the U.S. dollar with the advantages of blockchain technology.The coin was first listed on Coinbase, and by November, on Binance. Later, other exchanges adapted the stablecoin. USDC aimed to improve stablecoins&#39; transparency and licensing standards so that they could be used for trading, payments, and other purposes. The increased adoption due to the coin&#39;s popularization in 2019 and the DeFi boom in 2020 led to increased utility and demand for the coin within the crypto ecosystem. Furthermore, with the increase in users over the years, USDC has become one of the top cryptocurrencies based on market cap.<a href="https://cryptotale.org/review-on-usdc-a-stablecoin-bridging-crypto-and-us-dollar/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Review on USDC: A Stablecoin Bridging Crypto and US Dollar

Table of Contents

CryptoTale

Other articles published on Aug 12, 2024

NetMind.AI and io.net Forge Strategic Alliance to Boost AI and ML Capabilities

Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP); Who’s set to sink?

Ethereum Leads Market Recovery with $155M Inflows Amid Recent Downturn

Bitcoin Experiences Significant Drop as Investors Brace for Economic Data

BlackRock Issues Urgent Warning Over Rising Crypto Scams Targeting ETF Investors

Polymarket Partners with Perplexity for AI-Powered News

Join our free newsletter for daily crypto updates!