Stablecoin transmitter circle (CRCL) A acquired Malachite, the consensual engine which should underlie the arc of the blockchain focused on payments, of the development company of informal software, according to a press release on Monday.
Several people of informal systems will join Circle as part of the acquisition. Companies have not revealed prices details.
The agreement comes as a circle, the company behind the $ 65 billion USDC (USDC) Token, announced last week that she was building her own layer 1 blockchain designed for Stablecoin finances, a recent trend among asset issuers aimed at capitalizing on the booming sector. Stablecoins, a set of cryptocurrencies with prices related to an external asset such as the US dollar, should become a market of a dollars Billion and disrupt cross-border payments.
Malachite was built around the trend consensus algorithm and was designed for flexibility and accuracy in decentralized systems. Informal systems have developed it as a reusable basis for blockchain infrastructure, emphasizing performance and security.
Malachite will remain open source under the Apache 2.0 license, leaving the developers free to use and extend the technology, the press release said. Informal will continue to support other use cases for Malachite and advance its other projects, including tools for distributed systems and transversal infrastructure.
Find out more: Why circle and band (And many others) Launch their own blockchains
