Circle Acquires Malachite to Launch Arc Blockchain Testnet

According to Odaily Planet Daily, Informal Systems announced that its high-performance BFT consensus engine, Malachite, has been acquired by Circle to support the launch of Arc, a new open-source layer-1 blockchain network focused on stablecoin finance, with a testnet launch expected later this year. Malachite utilizes the Tendermint algorithm and features a modular design that enhances performance, reliability, and security, while remaining open source to foster industry innovation. Several Informal team members will join Circle to drive Arc development, and Informal will continue to support other Malachite applications and blockchain technology development.