PANews August 18 news, according to Informal Systems, its high-performance BFT consensus engine Malachite has been acquired by Circle to support the launch of the new open-source Layer-1 blockchain network Arc, which focuses on stablecoin finance and is expected to go live on the testnet later this year. Malachite uses the Tendermint algorithm, and its modular design enhances performance, reliability, and security while remaining open-source to promote industry innovation. Some members of the Informal team will join Circle to drive the development of Arc, and Informal will continue to support other Malachite applications and blockchain technology development.