Informal Systems announced the acquisition of its high-performance consensus engine, Malachite, by Circle Internet Group, Inc. (CRCL) to support the launch of Arc1, a layer one blockchain network specifically designed for stablecoin financing. The Arc network is expected to launch on the testnet later this year, relying on the Malachite consensus engine that operates using Byzantine Fault Tolerance (BFT) technology.
What is the Malachite consensus engine?
Malachite is a consensus engine based on the Tendermint BFT algorithm, known for being efficient and robust. Malachite aims to empower developers to build high-performance decentralized systems and is specifically designed to meet the demands of networks requiring high speed and security, such as the Arc network.
Why is this acquisition important?
This acquisition represents a strategic step for Circle in the blockchain infrastructure space. By integrating Malachite, Circle aims to:
* Performance enhancement: Malachite will enhance the Arc network's performance in terms of speed and reliability, enabling quick processing of payments and financial transactions.
* Security enhancement: Byzantine Fault Tolerance (BFT) technology provides an additional layer of security against attacks or failures.
* Integration of stablecoins: The Arc network is designed for stablecoin financing and will use USDC as the native gas fee token, facilitating decentralized financial transactions.
Despite the acquisition, the Malachite code will remain open source under the Apache 2.0 license, allowing developers to continue using and developing it.
This information is not investment advice.
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