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Tempo Testnet Debuts with Open Access and Stablecoin Features

Key Takeaways

  • Stripe and Paradigm’s blockchain project Tempo has launched an open-source public testnet for users to explore and test features;
  • The testnet marks the start of Tempo’s next phase, focused on scaling, reliability, new tools, and real-world payment testing;
  • Tempo supports six core functions and allows users to create stablecoins via browser using its TIP-20 token standard.

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Tempo Testnet Debuts with Open Access and Stablecoin Features

Tempo, the blockchain developed by Stripe and Paradigm, has released its first public testnet.

In its announcement on December 9, Tempo said that the testnet is open source and ready for public use. Anyone interested can set up a node, connect to the network, and explore its current tools and features.

According to Tempo, the testnet launch begins the next stage of development. Their focus is on improving scale, reliability, and integration.

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In the coming months, they plan to bring in more infrastructure partners, add new tools and features, and test the network’s performance under real payment conditions.

The platform currently supports six main functions: payment lanes designed for specific use cases, stablecoin-based gas fees, a built-in decentralized exchange for stable assets, metadata for payments and transfers, quick and final transaction confirmation, and modern wallet signing systems.

Tempo also explained that the network was built to handle payments efficiently and predictably.

Following the launch, Paradigm’s general partner and chief technology officer, Georgios Konstantopoulos, posted on X about a feature that lets users create stablecoins directly through their browsers on the testnet.

The tokens issued on Tempo are built using its TIP-20 token standard. However, the current documentation does not specify the liquidity and collateral rules that will apply once the main network goes live.

US Bancorp recently launched a stablecoin pilot on the Stellar blockchain, with support from PwC and the Stellar Development Foundation. What is the goal of the trial? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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