Blockchain 101: USDC

A trusted Stablecoin

Introduction

USDC was announced by Circle the 15 May 2018 and launched in September 2018.

USDC Logo

Description

USDC is described on its website:

USDC is an open source project that works within US money transmission laws, uses established banks and auditors and runs on blockchain technology via smart contracts. This is true financial and operational transparency.

USDC relies on a mint/burn mechanism: each time 1 USD is deposited on the project’s bank account, 1 USDC is minted (created) and burned (destroyed) when given back to the swap contract in exchange of its equivalent is USD.

Technical specificities:

  • Type: Token
  • ETH contract address: 0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48
  • SOLANA contract address: EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v
  • Total Supply: NA
  • Subunit: cents
  • Decimals: 6

Documentation:

TradingBull.io

Telegram community: https://t.me/TradingBull_DA

Twitter: @_Digital_Assets

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