The Digital Dollar Accounts API is designed for multi-chain and multi-currency support.
If you are not familiar with blockchain concepts, a blockchain (or "chain" for short), is a distributed ledger of actions. Computers across the Internet use a blockchain to synchronize (agree on) a shared payment history for everyone on the network. You can think of it as a distributed database in which everyone who wants to transact records their actions according to certain rules that ensure nobody is cheating. Bitcoin, Ethereum, and Algorand are examples of chains.
A chain typically hosts one or more cryptocurrencies (or "currencies" for short) which have value. Currencies are also often referred to as tokens. Most chains host a native currency, and may sometimes have additional currencies (or tokens) hosted on the same chain. For example, the Bitcoin chain hosts the native Bitcoin (
BTC) currency, but also secondary tokens like Omni (
OMNI). The Ethereum chain hosts the native Ethereum (
ETH) currency, but also a wide variety of currencies and tokens, including
USDC. Many of them follow a technical standard called ERC-20. Similarly, the Algorand chain hosts the native Algo (
ALGO) currency, but also a variety of assets following the Algorand Standard Assets framework, including USDC.
Occasionally a single currency can be available on multiple chains.
The table below lists the chains and currencies currently supported by the Digital Dollar Accounts API.
Any time you refer to a currency in the context of a Digital Dollar Accounts API operation, you will utilize a currency and a chain pair. As an example, to create a USDC transfer on the Ethereum blockchain, you will specify the
USD currency on the
ETH chain. Similarly, to create a USDC transfer on the Algorand blockchain, you will specify the
USD currency on the
When referring to balances, you only need to refer to the currency (
USD), because the value of the currency for a Circle-hosted value is independent of the chain - and may sometimes be available on, and transferred across multiple chains.
Updated 2 months ago