Algorand is the world’s first open source, permissionless, pure PoS blockchain Protocol dedicated to removing friction from financial exchange.
The CENTRE consortium recently tweeted that they are launching the USDC stablecoin on the Algorand Network. This in turn triggers that expectation for more of the companies and individual to use the Digital Dollar (USDC).
Further, With the USDC in Algorand, it is expected that the closing process with multiple parties might get done in seconds as opposed to days of co-ordination efforts which are reduced by 99% thanks to programmability.
Algorand tweeted: “The combination of USDC and Circle Platform Services with the Algorand blockchain will create a foundation for developing a wide range of scalable, secure & compliant financial applications – @jerallaire.”
Recently Algorand recollected on how they launched the Algorand MainNet a year ago and on how they were thankful to the amazing community for empowering the next generation of development, innovation on Algorand.
The Algorand MainNet is the high performance blockchain with 1,000 transactions per second that is fully decentralized and it is mathematically guaranteed not to fork providing for immediate transaction finality with < 5 second latency and low transaction costs. It has released best-in class crypto wallet.
The MainNet has delivered major protocol upgrades every quarter with additional Layer-1 functionality that unlocked new use cases with unparalleled performance. The smart contract, standard assets, and atomic transfer are in the Layer -1. The smart contract is fast, secure and low cost. The Standard Assets are securities, currencies, stablecoins, utility tokens, certifications, and real estate. The atomic transfer is facilitated fiat, stable coins, real estate, and deed.
Sydney Ifergan, the crypto expert tweeted: “Algorand Mainnet have had lot of activity and milestones and they are evolving to unfold the future of DeFi and related innovation.”
The past year has been fruitful with lot of developments happening in the ecosystem.
Algorand feels that the combination of USDC and Circle Platform Services with the Algorand blockchain will create a foundation for developing a wide range of scalable, secure, and compliant financial applications. And, there are also the reasons for why Algorand is interesting.
The Chain Bulletin tweeted: “The new collaboration between @circlepay and @Algorand will allow the $USDC stablecoin to benefit from a #blockchain with remarkable transaction speed and security.”
There is lot of excitement in the community about Algorand as the fastest growing stable coin set to enable real-world use cases across the financial industry.
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