USDC does not have its own blockchain. Instead, it operates on existing blockchain networks that support the creation and exchange of tokens. USDC is a stablecoin, meaning that it aims to maintain a stable value relative to a reference asset or currency.
Token Use Cases
The purpose and objective of USDC are to provide a digital equivalent of the US dollar that can be used on the blockchain. 1. Stable value 2. Payments 3. DeFi applications 4. Collateral
Protocol & ConsensusMechanism
USDC is an asset issued on multiple blockchains, including Ethereum (ERC-20), Algorand (ASA), Solana (SPL), and Stellar (XLM). Each of these blockchains uses its respective consensus mechanism.
Tokenomics
USDC has a flexible supply, meaning that new tokens can be minted or burned based on demand and reserve holdings.
