What is the underlying blockchain for USDC?

3 answers

• Dec 18, 2021 · 3 years ago
  USDC, which stands for USD Coin, is an Ethereum-based stablecoin. It is built on the Ethereum blockchain, which is a decentralized, open-source blockchain platform that allows developers to build and deploy smart contracts. By leveraging the Ethereum blockchain, USDC offers transparency, security, and immutability, making it an ideal digital currency for various use cases.
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• Dec 18, 2021 · 3 years ago
  USDC is backed by a reserve of US dollars, which are held in a bank account. The blockchain technology ensures that the supply of USDC is transparent and auditable, allowing users to verify that each USDC token is fully backed by an equivalent amount of US dollars. This provides stability and trustworthiness to the USDC ecosystem.
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• Dec 18, 2021 · 3 years ago
  USDC is built on the Ethereum blockchain, which is known for its robustness and widespread adoption in the cryptocurrency industry. Ethereum's smart contract capabilities enable USDC to be programmable, allowing for the development of decentralized applications (DApps) and the execution of complex financial transactions. The Ethereum blockchain also provides a high level of security and decentralization, making it a suitable choice for USDC.
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