Cryptocurrency Q&A
What is a USD Coin?
What is a USD Coin?
ZenHarmony
Sun Jun 23 2024
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7 answers
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Could you please elaborate on what a USD Coin is and its significance in the cryptocurrency and finance world? As a professional practitioner in this field, I'm curious to understand its underlying technology, purpose, and how it functions as a stablecoin. I've heard it's meant to be a digital representation of the US dollar, but I'd like to delve deeper into its mechanics and use cases. Additionally, I'm interested in knowing how it differs from other stablecoins and if it has any specific advantages or disadvantages. Thank you for your time and expertise in this area.
7 answers
BitcoinBaroness
Mon Jun 24 2024
Owing to its stability and widespread acceptance, USDC has grown to become the second largest "stable" currency globally, as measured by its circulating volume.
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Martino
Mon Jun 24 2024
The USD Coin, commonly referred to as USDC, emerged in 2018 as a unique cryptocurrency dubbed a "stablecoin."
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Carlo
Mon Jun 24 2024
The circulating volume of USDC currently stands at approximately $40 billion, which is significant when compared to other cryptocurrencies.
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Nicola
Mon Jun 24 2024
The essence of a stablecoin lies in its pegging to a traditional, central bank-backed currency. In the case of USDC, this refers to the United States dollar.
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BlockchainEmpiress
Mon Jun 24 2024
Despite its impressive size, USDC trails behind Tether, which currently holds the top spot as the largest stablecoin in terms of circulating volume.
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