The USD Coin (USDC) will be getting a major overhaul related to payment processing in its recently announced upgrade. Centre Consortium—Circle and Coinbase—informed users that USDC 2.0 will provide ‘gasless sends’ as well as upgraded security for smart contracts.
To date, the USDC has required users to hold a balance in Ethereum (ETH) in order to cover the costs of transaction fees (often called ‘gas fees’). These fees had to be paid in ETH, which meant that users had to hold both assets.
The frivolousness of acquiring and holding both coins and the know-how necessary to make such payments has very limited adoption potential. Very few mainstream users would ever consider this option over the multitude of other payment instruments.
The upgraded USDC 2.0 allows users to bypass the gas fees by delegating the payment to a different address. In other words, the gas fees are paid by a third party wallet, allowing the transaction to take place with just the USDC wallet.

Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

Jon Buck
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about...
With a background in science and writing, Jon's cryptophile days started in 2011 when he first heard about Bitcoin. Since then he's been learning, investing, and writing about...
READ FULL BIO
Sponsored
Sponsored