Understanding Layer-1 Blockchain: Tempo by Stripe

By: Eliza Bennet

To align with the evolving needs of digital transactions, Stripe, in partnership with Paradigm, launched a new Layer-1 blockchain called Tempo. This initiative is a response to the demand for efficient integration of stablecoins in digital payments, an area where current Layer-1 blockchains like Ethereum and Solana are seen as lacking by Stripe's CEO, Patrick Collison.

Tempo differentiates itself by foregoing a native token, using various stablecoins as gas fees instead. This novel approach aims to streamline transaction processes, making them more cost-effective and efficient.

Furthermore, the project is neutral, not solely tied to Stripe, inviting other industry stakeholders to participate. Key partners like OpenAI and Deutsche Bank are already involved, supporting the vision of revolutionizing blockchain-based payments globally. Read more about Tempo here.