Cryptocurrency Q&A
Is USDC centralized or decentralized?
Is USDC centralized or decentralized?
GalaxyGlider
Sun May 12 2024
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5 answers
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I'm not quite certain whether USDC is fully centralized or decentralized. Could you please elaborate on this matter? I've heard conflicting opinions about its structure, with some people arguing that it's backed by traditional financial institutions, indicating a certain degree of centralization, while others claim it operates more autonomously, hinting at decentralization. Could you clarify this for me? It's important for me to understand the underlying mechanisms of USDC as I'm considering investing in it. I'd appreciate a detailed explanation of its architecture and governance model to help me make an informed decision. Thank you in advance for your assistance.
5 answers
GangnamGlitz
Tue May 14 2024
USDT is issued by Tether, a well-known entity in the digital asset space.
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Valentina
Tue May 14 2024
Meanwhile, USDC is issued by Circle, another significant player in the field of finance and cryptocurrency.
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ShintoSanctuary
Tue May 14 2024
Both Tether and Circle exercise complete control over the supply of their respective stablecoins.
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CryptoTitaness
Tue May 14 2024
Stablecoins, such as USDT and USDC, have gained immense popularity in the cryptocurrency market.
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Chiara
Tue May 14 2024
Additionally, they are responsible for managing cash-in and cash-out transactions related to these stablecoins, further emphasizing their centralized nature.
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