Circle buys Informal Systems' consensus engine to power new Arc blockchain

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Circle Internet Group (NYSE:CRCL [https://seekingalpha.com/symbol/CRCL]) has acquired blockchain infrastructure firm Informal Systems' high-performance consensus engine, Malachite, to support the rollout [https://seekingalpha.com/pr/20203909-informal-systems-announces-malachite-acquisition-by-circle-to-power-new-arc-blockchain] of a new stablecoin-focused Layer-1 blockchain, Informal Systems said on Monday.

Circle's (NYSE:CRCL [https://seekingalpha.com/symbol/CRCL]) Arc blockchain network is expected to launch in testnet later in the year.

The integration of Malachite will help Circle (NYSE:CRCL [https://seekingalpha.com/symbol/CRCL]) bring greater performance, reliability and security to stablecoin-based payments.

The Byzantine Fault Tolerant (BFT) consensus engine was designed to deliver trustworthy, low-cost and borderless financial infrastructure.

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