Project Name: USD Coin
Date of Issue: 2018
Maximum Supply: -
What Is USD Coin (USDC)?
USDC was launched in 2018 by Circle and Coinbase. USDC maintains price stability as it is pegged to the USD. USDC is based on Blockchain Technology and was created in the ERC-20 token standard on the Ethereum blockchain. USDC can be easily converted into other cryptocurrencies and used by any user anywhere in the world. The goal of USDC is to provide fast and low-cost transfers that are not controlled by a central authority. USDC can also be used as a basis for financial instruments. For example, USDC can be used as a stabilization tool for other cryptocurrencies. Also, USDC can be used for lending and borrowing purposes.
What Does USD Coin (USDC) Offer?
The biggest advantage of USDC is that it has price stability. Since the USD Coin (USDC) is pegged to the USD, volatility is avoided, and users can invest more safely. Moreover, USDC is used on many cryptocurrency trading platforms so that users can easily access it. Also, USDC transactions are carried out at a lower cost than other cryptocurrencies.
USDC is an ERC-20 token that runs on the Ethereum network. ERC-20 is a token standard that allows the creation, transfer, and management of tokens on the Ethereum network. Since USDC is in the ERC-20 standard, it is compatible with Ethereum-based wallets. Fast transactions, low transaction costs and automated transactions with smart contracts are among the advantages that USDC has. USDC can be programmed with smart contracts, in other words, conditions can be set to allow transactions to be executed in a certain way. Thus, it allows financial instruments to become more complex and even customized. Users can transfer USDC without the need for an intermediary or central authority. Thanks to Blockchain Technology, USDC transactions are transparent and traceable. USDC transactions are recorded on the blockchain and contain detailed information such as the date, time and the amount of the transaction. Thus, users can know the exact time of a transaction and its recipient.
The USDC Team & Company
Circle Internet Financial, the company behind USDC, was founded in 2013 by Jeremy Allaire and Sean Neville. Circle is a fintech company specializing in cryptocurrencies and Blockchain Technology. USDC was developed by Circle. Jeremy Allaire, CEO of Circle, has years of experience in cryptocurrencies and Blockchain Technology. Sean Neville is the co-founder of Circle and used to work at Goldman Sachs.
Evaluation of USDC
USDC is not priced according to supply and demand. Since USDC is indexed to the USD, price stability is ensured. USDC is used on cryptocurrency trading platforms to provide liquidity. USDC can also be easily exchanged for other cryptocurrencies, which makes it popular among investors.