The tempo starts, blockchain layer 1 created in cooperation with Stripe and Venture Capital Paradigm.
New blockchain
Blockchain is compatible with Ethereum Virtual Machine, Opennai, Visa and Shopify also participated in the project, building, according to the creators, a network with “high -performance, cheap global transactions for each business application.”
Plans regarding the network were first published by the warehouse Fortune In August, after they were mentioned in … a job advertisement.
Along with the dissemination of the Stablecoin, the demand for optimized infrastructure is growing. A significant part of today’s cryptocurrency collection, explicitly or implicitly, serves trade (which in itself is very valuable use), but it is relatively poorly optimized for payment
– Matt Huang, founder of Paradigm and managing director of the Tempo. The creation of the project announced on X.
In addition to low fees and focus on payments, the network is to enable support for over 100,000 transactions per second (TPS), provide a lot of privacy that will allow users to hide some details of the transaction. It will also use an automatic market animator (AMM), which will allow you to pay transaction fees via any stablelein.
The pace facilitates the way to transfer the actual flows to the block chain
– adds Huang, emphasizing the potential of the pace in the implementation of global payroll lists, cash transfers, micropayments and agent payments in blockchain.
Blockchain currently operates in the test environment, and the team is experimenting with various cases of use, such as e-commerce and cross-border payments. Some of the design partners also act as network validators. At the end, however, the pace will become an open network, which means that everyone will be able to participate in its validation.
Stripe wants to use blockchain
One of the most important entities in the project will be the mentioned Stripe. Why?
In Stripe, we care primarily about high bandwidth payments and low delay. As the use of stableleins (and more broadly cryptocurrencies) in Stripe, Bridge and Privy, we discovered that existing blockchains are not optimized for them
– He described the approach of his company Patrick Collison, CEO of Stripe.
