USDC is a stablecoin, a particular form of crypto designed to maintain a stable value by being backed by a pool of underlying assets.
In the case of USDC, this pool is made up of US dollars (USD)
Thus, 1 USDC is always supposed to be worth 1 USD.
Created by a consortium of technology companies, the USDC stablecoin is intended to offer a digital alternative to the traditional US dollar, while retaining its monetary stability.
USDC is a stablecoin based on blockchain technology and designed to maintain a stable value by being backed by a reserve of US dollars.
Its operation relies on a carefully orchestrated process to guarantee its stability and parity with the US dollar.
First of all, it’s important to note that the USDC was initially built on the Ethereum blockchain, meaning that it uses Ethereum’s decentralized technology for its transactions and records.