What Is The USDC Stablecoin And How Does It Work?

Coinbase and Circle, two companies in the digital finance industry, collaborated in 2018 and developed a stablecoin whose value is pegged to the US dollar. They named it the USD Coin (USDC).

As a stablecoin, USDC fluctuates less than other forms of cryptocurrency. Each coin would always be worth a dollar, since its value is determined directly by the USD market.

USDC is essentially a token at its core. Five blockchains are supported, including Ethereum and Stellar, and smart contracts have been used to verify its…