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USD Coin (USDC) is a stablecoin released by popular exchange Coinbase in collaboration with payments company Circle in 2018. Backed by the US Dollar on a 1:1 ratio, the token is an ERC-20 token that can be purchased on Coinbase’s platform. Coinbase has said that it chose the Ethereum protocol because of its smart contract capabilities and strong developer support.
Like other stablecoins, it is intended to help traders overcome the volatility of the market. Coinbase has said that it is part of its mission is to “build an open financial system for the world”, and it does indeed allow anyone from across the world to purchase the stablecoin and use it for trading and various services.
Stablecoins often receive scrutiny relating to whether or not the issuing entity has enough reserves to back every token up, but Coinbase assures users that the holding accounts are closely monitored and audited. USD Coin is an example of a fiat-backed stablecoin, which is often what receives the greatest scrutiny.
Having one very specific purpose, there is not much in the way of development news for USD Coin. Coinbase is however working on making it more widely available, including on more exchanges and services.
9 Apr 2022 1 minute read 9 comments Allen Taylor $1.01
Ethereum’s gas fees were up 13 percent in March as new ERC-20 token generation surged 125 percent above February’s. Galaxy Digital Trading says ETH could flip BTC within three years. Now let’s all hold our breath. Tesla, Block, and Blockstream are te...
2 Feb 2022 2 minute read 1 comment Allen Taylor $0.32
Bitcoin is off to its worst calendar year start in eight years. ConsenSys acquires MyCrypto wallet, plans to merge it with MetaMask. Good news for everyone who’s tired of looking at Tether: USDC is closing the gap on the leading stablecoin and now co...
31 Jan 2022 1 minute read 0 comments Great White Snark $0.02
Flip a chip, but trying to get PayPal to pay out the money that's being held in reserve is far more difficult than it should be if you set up a business account! (There's way too much red tape in which to get tangled, what with invoices, shipping, re...
25 Jan 2022 4 minute read 2 comments BitcoinGordon $0.53
Central Bank Digital Currency (CBDC) "The Fed published a report on CBDCs that examines the pros and cons of a potential US CBDC. While the report emphasizes that such an implementation is wholly up to Congress, it invites further discussion in the...
23 Jan 2022 1 minute read 5 comments cryotosensei $0.29
I wonder if anyone has noticed my brief absence from Publish0x. A new school year has begun, so I’m starting to get into the swing of things. Coupled with a toddler who inexplicably becomes energetic around bedtime, I haven’t found the time to blog m...
22 Jan 2022 1 minute read 0 comments Allen Taylor $0.86
Crypto exchange Binance has been operating in secrecy, preventing government regulators from knowing what they need to know to effectively regulate exchanges like Binance. One can understand why. If they declared a headquarters in any country, they’d...
21 Jan 2022 1 minute read 2 comments Hamminy $0.21
I don't have a crystal ball. It might not happen. But you should act as if it is a foregone conclusion. The SEC has been itching for an opportunity to rein in crypto and all of those shady supercoders and tax cheats it empowers. A correction in the m...
17 Jan 2022 1 minute read 1 comment Keith Thuerk $0.01
The Black Diamond Called ‘The Enigma’ What do we know about it? The Enigma is a natural faceted black diamond of this size is an extremely rare and comes in at 555.55 carats. In case you were wondering it has 55 facets Listed in the Guinness Worl...
4 Jan 2022 1 minute read 1 comment Defi Degsy $0.10
Simply use a Stable coin like USDT or USDT FOR YOUR PAIRING, even Magic Internet Money or MIM, then only 50% of your Crypto is exposed to impermanent loss, which is simply the price of the staked coin going down. It's not as bad as it sounds because...
27 Dec 2021 2 minute read 1 comment ArtMoz $0.41
Stable Coins Stable coins are coins whose price is stable depending on what are they backed by. Lets say a stable coin is backed 1:1 ratio with a US Dollar, that would mean that You will always get 1 US dollar for the coin. Why would anyone need s...
