The USD Coin (USDC) is a digital asset that is fully collateralized by U.S. dollar reserves to provide stability against the U.S. dollar, thus creating a medium of transfer of value and exchange.
The USDC coin is a digital dollar that you can hold, send and use in the same way you would use cash or a check. It’s a safe, liquid, and transparent way to hold your money, too – backed by real USD in bank accounts.
USDC is a full reserve US dollar-backed ERC20 stablecoin that is fully collateralized and transparently verifiable. Every single one of them is 100% backed by USD in bank accounts. At its core, the USDC token is an open source software project based on the Ethereum platform which allows users to exchange value anywhere in the world, instantly and with no third party intermediary.
- The origin of USD Coin (USDC)
The USDC coin was first announced on May 2018, and was launched in September 2018, it developed by New York blockchain-based WCEX, LLC. Their goal is to launch a US dollar stablecoin that is pegged to the U.S. dollar value, but runs on distributed ledger technology. The near real-time auditable legitimacy of these coins is made possible through a system run by professional accountants who audit the accounts every day and publish their findings via an open source software protocol.
USDC is a stable coin designed to fill the gap between fiat money and other cryptocurrencies. Using a new “collateralized warehouse model”, USD Coin (USDC) combines the benefits of blockchain technology with traditional money market best practices. USDC is fully collateralized by and redeemable for U.S. dollars, with 100% transparency of holdings.
- Why is USDC so popular ?
USDC is a stablecoin that has been pegged to the value of the U.S. dollar — meaning it’s as good as cash. This means you can use it for online purchases, send it to others, or keep it safe in an account. You don’t have to worry about the value fluctuating or being devalued by inflation.
MegaMoon V2 currently uses USDT in the MegaMoon ecosystem. USDT is a stablecoin same as USDC, so MegaMoon lottery players and MegaMoon dealers can assured that any prizes or dividends received will not fluctuate.
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