Circle Acquires Malachite to Drive Arc Blockchain Testnet

According to HaShiChain news, Informal Systems has announced that 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. Arc focuses on stablecoin finance, and is expected to launch its testnet later this year. Malachite employs the Tendermint algorithm, with a modular design that enhances performance, reliability, and security, while remaining open-source to promote industry innovation. Some members of the Informal team will join Circle to advance Arc development, and Informal will continue to support other Malachite applications and blockchain technology development.