What Is Tempo? The Payments and Stablecoin Blockchain Built by Stripe

Tempo is a newly designed layer-1 blockchain developed through a collaboration between Stripe and crypto venture firm Paradigm. Aimed specifically at facilitating payments and stablecoins, Tempo boasts capabilities of around 100,000 transactions per second (TPS), making it significantly faster than existing networks. Its design includes features such as batch transfers and memo fields for transactions. Currently in a private testnet phase, Tempo is collaborating with major companies like OpenAI and Visa to test real-world payment use cases, including remittances and cross-border payments. The blockchain will eventually transition to an open network, allowing broader participation. Tempo integrates an automated market maker (AMM) for gas fees, permitting users to pay transaction fees using various stablecoins, like USDC and USDT. Additionally, it includes an opt-in privacy feature for maintaining transaction confidentiality while adhering to financial compliance standards. Tempo aims to revolutionize stablecoin transactions and payment systems, backed by significant venture funding and established blockchain developers.

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