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Can you explain the underlying technology and mechanism behind USDC and USDT?

avatarSuranjan Kumar GhoshMar 22, 2022 · 3 years ago1 answers

Could you please provide a detailed explanation of the underlying technology and mechanism behind USDC and USDT? I would like to understand how these stablecoins work and what sets them apart from other cryptocurrencies.

Can you explain the underlying technology and mechanism behind USDC and USDT?
USDC
USDT
Stablecoins

1 answers

  • avatarMar 22, 2022 · 3 years ago
    USDC and USDT are stablecoins that aim to maintain a stable value against the US dollar. While USDC is built on the Ethereum blockchain and offers transparency through regular audits, USDT operates on multiple blockchains but has faced criticism for its lack of full reserve transparency.

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