Arc is an open Layer-1 blockchain dedicated to stablecoin finance, using USDC as transaction fees and a low, stable USD fee model.
Arc supports automated 24/7 payments between stablecoins, integrating an institutional-grade foreign exchange trading engine, operating on the Malachite consensus mechanism with fast confirmation speeds and optional privacy.
MAIN CONTENT
Arc is an open Layer-1 blockchain designed for stablecoins with transaction fees calculated in USDC.
Using the Malachite consensus mechanism, it allows transaction confirmations in under 1 second and provides optional security.
Integrating institutional-grade foreign exchange trading engines, supporting payments and capital markets 24/7.
What is Arc and what makes this blockchain special?
Arc is an open Layer-1 blockchain dedicated to stablecoin finance, using USDC as native gas and offering low, stable USD transaction fees. This blockchain also has the capability to support automated cross-border payments and complex financial applications.
Built with the goal of improving the payment environment and financial services based on stablecoins, Arc stands out by offering moderate USD-denominated fees, helping to minimize the gas fee volatility commonly seen on traditional blockchains. The design of the ecosystem to meet the needs of financial organizations enhances its practical application potential.
How does Arc use the consensus mechanism to achieve high performance?
Arc operates on the Malachite consensus mechanism, providing finality in under one second along with optional security. This is a standout feature that makes this blockchain suitable for financial transactions requiring high speed and privacy.
The Malachite mechanism integrates advanced consensus techniques, ensuring fast processing speeds and minimizing risks from cyber attacks. The optional privacy feature supports organizations in regulatory compliance while protecting sensitive transaction data of customers.
Arc provides cross-border payments with low transaction fees, ensuring stability and convenience for global financial organizations.
Statement from a Circle representative, August 12, 2024
What financial applications does Arc support?
The Arc blockchain is designed for applications such as cross-border payments, stablecoin derivatives, on-chain credit, and capital market payments. This demonstrates the versatility and practical application oriented towards institutional finance of the platform.
The integration of an institutional-grade foreign exchange trading engine allows Arc to conduct automated spot transactions 24/7 between different stablecoins. Applications such as capital markets can leverage fast processing capabilities and stable fees to enhance liquidity efficiency and minimize transaction costs.
What are the implementation plans and launch timeline for Arc?
Arc plans to announce an expanded beta version in the fall of 2024 and officially launch the mainnet in 2026. This process will help test features and improvements before widespread market adoption.
The release of the public beta allows the community and partners to experience and contribute to the development of important features. This is a crucial step to ensure that the Arc blockchain operates stably, meeting the stringent demands of the global financial market upon the official mainnet launch.
Frequently Asked Questions
What type of transaction fee does Arc use?
Arc uses USDC as gas fees with fees denominated in USD, helping to stabilize costs for users.
Does Arc support privacy for transactions?
Yes, Arc has a transaction security option that helps organizations protect sensitive information.
What are the main applications of Arc?
Arc is for cross-border payment applications, stablecoin derivatives markets, and on-chain capital market transactions.
When will Arc officially launch the mainnet?
The mainnet is expected to launch in 2026, following the public beta testing phase in 2024.
Is Arc compatible with Ethereum?
Yes, Arc is compatible with EVM, allowing for the development of DApps and complex applications on this platform.
Source: https://tintucbitcoin.com/arc-blockchain-circle-chon-usdc-phi-gas/
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