Circle Acquires Malachite to Launch Arc Blockchain Testnet

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 leverages the Tendermint algorithm and features a modular design for improved performance, reliability, and security, while remaining open-source to foster industry innovation. Several Informal team members will join Circle to drive Arc's development, and Informal will continue to support other Malachite applications and the development of blockchain technology.