cryptonews.net
Informal Systems, blockchain infrastructure and protocol design provider, announced that its consensus engine, Malachite, has been acquired by Circle Internet Group, Inc. (NYSE: CRCL). The technology will be used in Arc, a new open Layer-1 blockchain network designed for stablecoin finance. Arc is scheduled to launch in testnet later this year.
By adopting Malachite, Circle aims to improve the performance and security of stablecoin transactions. The integration is expected to help make stablecoin-based payments more reliable and cost-efficient.
The Malachite codebase will remain open source under the Apache 2.0 license, allowing developers across the industry to continue using and building on it. Informal Systems will also continue to support teams working on protocol design, cross-chain infrastructure, and projects using Malachite.
This acquisition aligns with Circle’s strategy to strengthen its blockchain capabilities while Informal Systems continues its role in advancing open-source technologies for decentralized finance.
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