Circle Unveils Arc Blockchain for Stablecoin-Based Applications
Circle, the issuer of USDC, has launched Arc, a blockchain designed specifically for stablecoin-based applications. Unlike other blockchains, Arc is a layer-1 network that addresses the infrastructure challenges limiting the adoption of stablecoins at an institutional scale.
The platform aims to provide deterministic finality, predictable fees priced in stablecoins, and optional privacy features that support regulatory compliance. Arc's consensus layer is powered by Malachite, a Byzantine Fault Tolerant (BFT) engine based on Tendermint.
Circle has named the founding validator cohort that will secure the network from launch, including BlackRock, DTCC, Galaxy, and Visa. The initial supply of ARC tokens will be 10 billion, with issuance of new tokens expected to begin at an annual rate of 2-3%.