Tempo is a layer-1 blockchain dedicated to payments, incubated by Stripe and Paradigm , aiming to process stablecoin transactions for businesses and financial institutions on a global scale. Let's explore this project with Coin68 in the article below.
What is Tempo? Learn about the payment blockchain that has raised $500 million.
What is Tempo?
Tempo is a high-throughput layer-1 blockchain built to facilitate global stablecoin payments for businesses, financial institutions, and fintech companies. The project is being incubated by the financial services and software company Stripe and the investment fund Paradigm , and is currently in the testnet phase.
This is one of the prominent names in the stablecoin chain wave.
What is Tempo?
Tempo Vai as a bridge between traditional banking and on-chain payments, optimized for payment scenarios such as global deposits, international payments, or micro-payments. All of these can be done 24/7 using stablecoins or Tokenize deposit methods.
The highlight of Tempo
Low and stable fees
Transaction fees on the Tempo blockchain are very low and less volatile than many other chains. Users and businesses can pay Gas Price directly using various stablecoins through an integrated AMM within the protocol, without needing a separate gas Token .
Optimized for the payment experience.
Tempo has the ability to process payment transactions separately to prevent conflicts with other blockchain activities, resulting in stable and less delayed money transfers. Additionally, the project supports memos, access lists, and dedicated data fields for financial operations, making integration into payment systems easier.
Providing selective privacy
Tempo offers an opt-in privacy mechanism, meaning users/businesses can hide sensitive transaction details when needed, while still maintaining compliance and audit capabilities. This approach is suitable for business payments, where both information security and legal compliance are required.
High performance
Tempo can achieve up to 100,000 tps and transaction processing times under 1 second, making it suitable for real-time global payment processing. Additionally, Tempo offers DeFi applications to serve users, is compatible with Ethereum, and ensures compliance with legal regulations and user privacy.
Development team
Tempo is led by Matt Huang, co-founder of Paradigm and a member of the Stripe board of directors. Other notable figures include Georgios, CTO of Paradigm, and Dankrad Feist, a researcher at the Ethereum Foundation.
Investors
Tempo's investors
Tempo has raised $500 million from investment funds such as Thrive Capital, Greenoaks, Sequoia, Ribbit Capital, etc.
Summary
Above is all the information about the Tempo project. Coin68 hopes that readers have grasped the basic information to better understand the project and its highlights. We wish you more useful knowledge!
Note: The information in this article should not be XEM investment advice, and Coin68 is not responsible for any decisions you make.
