Introduction: A company named Circle, which makes a popular digital dollar called USDC, thinks that most blockchains aren't very good for digital money. They are building their own special blockchain called Arc to fix the problems.
[Picture Source}(https://www.gokhshteinmedia.com/news/circle-to-launch-evm-compatible-l1-blockchain-arc)
A Company Named Circle is Building a New Blockchain
Why is CircProblems with Today's Blockchains
Circle says other blockchains have a few big issues:
🎢 - Fees change all the time: The cost to send money can suddenly get very expensive, like when gas prices for a car shoot up.
⛓️ - Transactions aren't always final: Sometimes a payment looks like it went through, but it can actually be canceled or reversed.
🕵️ - No privacy: Anyone can see how much money is being sent. This is bad for businesses that need to keep their deals secret.
💧 - Money is stuck in different places: It can be hard to move your digital money from one blockchain to another.
How Arc Solves These Problems
Circle says its new blockchain, Arc, is built to be perfect for digital dollars.
Here’s how it helps:
- When you send money, it’s sent instantly and it's final. No one can reverse it.
- The fees are low and predictable. You also pay the fees using USDC, the same digital dollars you're sending.
- It has privacy options. Businesses can choose to hide their transaction details.
- It easily connects to other blockchains and even regular banks.
- Arc is being tested now, and Circle plans to release it for everyone in 2026.
Simple and Fair Fees
- On most blockchains, you have to pay fees with a special crypto coin whose price goes up and down. On Arc, you just use USDC. This makes the cost of sending money easy to understand and keeps it from changing all the time.
Keeping Your Money Safe
Arc is kept secure by a group of trusted companies that check all the transactions to make sure they are correct. Circle is also building special tools to stop cheaters and make sure the system is fair for everyone.
Privacy for Big Companies
Arc gives businesses privacy when they need it. They can hide how much money they are sending, while still being able to prove to the government or their bosses that they are following the rules. It’s like sending a secret message that only the right people can read.
Connecting All Your Digital Money
Circle is also making tools that make it easy to:
- Turn real-world dollars into digital USDC on the Arc blockchain.
- Move your USDC from Arc to other blockchains like Ethereum or Solana.
- This means you can use your digital money on whatever blockchain works best for you.
What Makes Arc Special?
- There are many other blockchains out there, but Arc has a big advantage: it’s made by Circle, the company that already created USDC, one of the world's most trusted digital dollars.
- By building a blockchain specifically for finance, Circle hopes Arc will be used by big banks and companies for much more than just sending money. They want it to be the home for a new online financial world.
The End
@Shortsegments
Thank you for reading my post
This post was written by Shortsegments, who has been writing about cryptocurrency, the blockchain, digital ledgers, bitcoin, ethereum, and decentralized finance for seven years. You will find his articles here on his blog Link to his blog.
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