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Oct 21

M0: The base layer for verifiable issuance

Last week, 300 trillion PYUSD (PayPal’s stablecoin issued by Paxos) was minted on Ethereum. For a brief moment, PYUSD was the most valuable asset on earth. To put it in perspective: that’s worth more than 10x the value of every ounce of gold ever mined. It was a glitch, obviously. And after 22 minutes, the 300 Trillion in question was burned, just as easily as it was created. Ironically, this isn’t PayPal’s first brush with astronomical numbers. In 2013, the payment app mistakenly credited a ...

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M0: The base layer for verifiable issuance

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