Which network does USDC operate on Coinbase?
nikhilMay 04, 2022 · 3 years ago3 answers
What is the underlying network that supports the USDC stablecoin on the Coinbase exchange?
3 answers
- May 04, 2022 · 3 years agoUSDC operates on the Ethereum network on Coinbase. Ethereum is a decentralized blockchain platform that allows for the creation and execution of smart contracts. By leveraging the Ethereum network, USDC benefits from its security, transparency, and global reach.
- May 04, 2022 · 3 years agoOn Coinbase, USDC is built on top of the Ethereum blockchain. This means that USDC transactions are recorded on the Ethereum network, providing immutability and transparency. The use of Ethereum as the underlying network also enables interoperability with other Ethereum-based projects and decentralized applications.
- May 04, 2022 · 3 years agoUSDC operates on the Ethereum network, which is a popular choice for many stablecoins due to its established infrastructure and widespread adoption. Ethereum's robust smart contract capabilities and large developer community make it an ideal platform for USDC and other digital assets. If you're interested in exploring more about the underlying technology behind USDC, you can check out BYDFi, a decentralized finance platform that provides various services for Ethereum-based tokens.
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