Update latest USD currency price (USDC) and explanation

Update Latest Usd Currency Price (Usdc) And Explanation
Update Latest Usd Currency Price (Usdc) And Explanation

Bufipro. with – Hello Bufi friends around the world, back with the admin here with interesting information, namely Update latest USD currency price (USDC) and explanation that of course you are waiting for the latest price update.

Cryptocurrencies are now available with various names and prices, so all of you as cryptocurrency entrepreneurs are required to know one by one the names and prices of these cryptocurrencies, and this review will cater to all of them.

With so many cryptocurrencies spread all over the world, there is a cryptocurrency that, according to the administrator, is very stable and it can be said that it attracts the attention of people who know the uniqueness of this cryptocurrency.

If you are someone who is really looking for a cryptocurrency that is stable and has its own characteristics, then you are in the right place, you want to know what the uniqueness of USD currency (USDC) this? Read more below.

What is USD Coin (USDC) and what is the latest price?

Update Latest Usd Currency Price (Usdc) And Explanation
USD currency (USDC)

USD Coin (known by its symbol USDC) is a stablecoin pegged to the US dollar on a 1:1 basis. Each unit of this cryptocurrency in circulation is backed by $1 in reserve, in the form of a mix of cash and short-term US Treasuries. The Consortium Center, which is behind these assets, says USDC is issued by a regulated financial institution.

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This stablecoin was initially released on a limited basis in September 2018. Simply put, USD Coin’s mantra is “digital money for the digital age” and its stablecoin is designed for a world where cashless transactions are becoming more common.

Several use cases were exposed for USD Coin. In addition to providing cryptocurrency traders with a safe haven in times of volatile prices, those behind the stablecoin say it can also allow companies to accept payments in digital assets and shake up various industries, including decentralized finance and gaming.

Overall, the goal is to create an ecosystem where USDC is accepted by as many wallets, exchanges, service providers, and dApps as possible.

The USD currency price today is IDR 14,788.54 IDR with a 24-hour trading volume of IDR 140,643,219,592,051 IDR. The USD currency is up 0.05 in the last 24 hours. With a market value of IDR 803,839,872,224,138 IDR.

Who is the founder of USD Coin?

The Center Consortium has two founding members. One is peer-to-peer payments company Circle, while the other is cryptocurrency exchange Coinbase. Other cryptocurrency companies are open to joining this consortium.

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Explaining the rationale behind USDC, Circle founders Jeremy Allaire and Sean Neville wrote: “We believe that an open exchange of value on the Internet can transform and integrate the world more deeply, removing artificial economic boundaries and supporting more global markets. efficient and inclusive solutions that connect everyone on the planet. “

In 2020, Circle and Coinbase collectively announced major improvements to the USDC protocol and smart contracts. The purpose of this update is to make it easier to use USD Coin for daily payments, trades and peer-to-peer transactions.

What makes USD Coin (USDC) unique?

The stablecoin market has become very lively in recent years, but USD Coin is intent on standing out above its competitors in many ways.

One of them concerns transparency and guarantees users that they will be able to withdraw 1 USDC and get $1 back without any problems. To that end, it says that a large accounting firm is tasked with verifying the level of cash held in reserve and ensuring it matches the number of tokens in circulation.

Unlike other crypto companies, Circle and Coinbase also achieved regulatory compliance and this helped pave the way for international expansion. Both projects are also well-funded, giving certainty to this stablecoin.

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How many USD coins (USDC) are in circulation?

Update Latest Usd Currency Price (Usdc) And Explanation
USD currency

It’s a little difficult to provide exact numbers here because, in theory, the amount of USDC that can circulate is unlimited. New coins are created on demand, every time someone wants to buy them with their modest dollars.

Even so, there have been factors that have helped USD Coin enjoy a boom in popularity over the years, especially in 2020. One of them is the sudden, sudden rise in popularity of decentralized finance. USDC is common to many DeFi protocols as it serves as a link to the wider ecosystem.

How is the USD currency network secured?

All USDC in circulation are actually ERC-20 tokens, which can be found on the Ethereum blockchain. One of the biggest advantages here is how it can be integrated with Ethereum-based applications. As we mentioned earlier, the security and reliability of these stablecoins is served by proof that the US Dollars are being safely held in reserve.

the final word

This is the information that the admin can convey on this occasion regarding the title above, I hope this information can be useful and helpful to many people, until we meet again in another interesting discussion.
Thank you very much and thank you very much for visiting.

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