Avalanche is a high throughput smart contract blockchain platform. Validators secure the network through a proof-of-stake consensus protocol. It is said to be fast, low cost, and environmental friendly.
Avalanche has become the seventh blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. to host USD Coin. The integration could help DeFi a movement encouraging alternatives to traditional, centralized forms of financial services. grow on the platform.
The smart contract in traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain. blockchainAvalanche has welcomed the stablecoin a cryptocurrency with extremely low volatility, sometimes used as a means of portfolio diversification. Examples include gold-backed cryptocurrency or fiat-pegged cryptocurrency.USDCoin (USDC).
Circlethe operator of the stable currency currency is a medium of exchange that defines value. pegged to the US dollar, USDC, announced the integration with the USDC network.Avalanche this Tuesday through a press release which was shared on Twitter. The arrival of USDC expands the stablecoin options of the network, which had already announced support the opposite of Resistance, it is a threshold that crypto’s price doesn’t fall below. for the popular stablecoin.Tether (USDT) in May .
According to the official announcement, the integration of USDC will help drive the growth of the Avalanchewhile allowing users to take advantage of the speed and low transaction costs of such a network.
Just in time for the winter holidays, USDC has arrived in Avalanche! Starting today, businesses and users can now make native transactions. USDC almost instantly through the fast, low-cost and environmentally friendly blockchain.
❄️ Just in time for the winter holidays, Avalanche USDC has arrived! Starting today, businesses and users can now transact native #USDC near-instantly across @avalancheavax ‘s fast, low-cost, and eco-friendly blockchain. https://t.co/GL6hcWG5vt
— Circle (@circlepay) December 14, 2021
USDC: Avalanche drives growth at DeFi
Following the launch of its mainnet an independent blockchain running its own network with its own technology and protocol. in 2020,Avalanche has experienced accelerated growth, becoming one of the most successful projects in the crypto sphere.Avalanchewhose native token a digital unit designed with utility in mind, providing access and use of a larger crypto economic system. is called AVAX, currently ranks 12th on the list of top blockchains by market an area or arena, online or offline, in which commercial dealings are conducted. capitalization.
The news of USDC’s incorporation is part of the recent effort the platform a place to buy, sell and store cryptocurrency has been doing to boost its decentralized decentralization refers to the property of a system in which nodes or actors work in concert in a distributed fashion to achieve a common goal. finance ecosystem (DeFi). In recent months, theAvalanche Foundationan organisation that advocates for the adoption ofAvalanchehas announced the injection of more than USD $300 million to accelerate the development of decentralized applications on that network.
Among these efforts, the organization launched ” Avalanche Rush The “USD$180 million incentive program dedicated to boosting the DeFi ecosystem of this platform.
In his statement today,Circle stated that USDC support inAvalanche could enable more developers to create environmentally friendly DeFi applications. The president ofAva Labs, John Wu, agreed and told CoinDesk que the addition of native USDC to Avalanche probably ” will accelerate “the amount of DeFi a phenomenon that is already being seen on the net.
In the future, this partnership allows native USDC to be minted and printed directly in Avalanche, saving users costs and the headache of buying and selling.
In the meantime,Avalanche becomes the seventh blockchain to incorporate USDC, joining Hedera, Tron, Ethereum, Algorand, Stellar y Solana . Earlier this year, Circle had announced plans to expand its stable currency to a few years ago. 10 more networks.
- Circle and Unstoppable Domains Partner to Facilitate USDC Username Transactions
- FTX CEO Sam Bankman-Fried notes that Solana and Avalanche could have a good future in the crypto space
- Avalanche obtiene USD $230 millones en ronda de inversión liderada por Polychain y Three Arrows Capital capital is most commonly defined as the large sum of money you would use to invest.
Article by Hannah Estefania Perez / DiarioBitcoin
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