The initial reason people wanted stablecoins was purely to avoid the risks of price volatility, rather than for payment purposes. It only became popular later for payment use.
This indicates that for a new thing to emerge, there must be a rigid demand at the beginning. If stablecoins were only for payments, almost no one would be willing to use them, because at that time, web2 payments were already very mature.
Will the web3 world, which is under heavy pressure from dark clouds, usher in bright polar day? Just like the theory of relativity and quantum mechanics to traditional physics.
Although it produces the shame of humanity, vernacular language and simplified characters are symbols of progress, thus making me feel that this nation still has hope.
1. The essence of business is a service-sharing model; 2. Any human need can be addressed by business; 3. Therefore, any human need can exist in the form of service sharing.
If the end of blockchain is stablecoins, then there is really no need to hoard BTC and ETH. Because ultimately, these stablecoin giants will launch their own layer 1 public chains. And if the transaction fees are stablecoins, it will be much more controllable and convenient.
Is no one paying attention to this news? Another Ethereum killer
Binance News
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Circle launches ARC blockchain to counter Tether's dominance in the stablecoin market
According to BlockBeats, Circle disclosed details about the stablecoin Layer1 blockchain ARC on August 12. ARC will use USDC as its native Gas token and plans to launch a public testnet this fall, compatible with EVM.
Circle aims to provide enterprise-level infrastructure for stablecoin payments, foreign exchange, and capital market applications. ARC will introduce a stablecoin foreign exchange engine, sub-second settlement, and privacy features, and will integrate with the Circle platform.
This move by Circle is intended to counter Tether, which has been involved in the development of two stablecoin Layer1 blockchains, Stable and Plasma. In a $260 billion market, Circle accounts for $65 billion, while Tether accounts for $165 billion.
Applications that cannot solve real pain points are all just hot air. I think web3, in addition to preventing inflation, also prevents the monopoly of the banking system. Everything else is nonsense. NFTs are nonsense. RWA is also nonsense.
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