{"id":59285,"date":"2023-09-14T17:13:45","date_gmt":"2023-09-14T21:13:45","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=59285"},"modified":"2023-09-14T17:34:38","modified_gmt":"2023-09-14T21:34:38","slug":"hedera-network-unveils-new-toolkit-for-web3-innovators","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/hedera-network-unveils-new-toolkit-for-web3-innovators\/","title":{"rendered":"Hedera Network Unveils New Toolkit for Web3 Innovators"},"content":{"rendered":"\n

Hedera network introduces “Stablecoin Studio” for its platform's streamlined stablecoin issuance and management<\/a>. <\/p>\n\n\n\n

\"Hedera
Hedera Network Unveils New Open-source Toolkit for Web3 Innovators<\/figcaption><\/figure>\n\n\n\n

With a new toolbox, Hedera, an open-source, leaderless proof-of-stake network<\/a>, plans to compete with blockchain heavyweights like Ethereum (ETH) in the deployment of stablecoins. <\/p>\n\n\n\n

Hedera unveiled a new open-source tool to create stablecoin applications on their network in a blog post on September 14. Stablecoin issuers can disclose collaterals publicly thanks to the Stablecoin Studio SDK, which allows third-party data sources and API interfaces with predetermined custody and KYC\/AML providers. <\/p>\n\n\n\n

The HBAR Foundation's co-founder and CEO, Shayne Higdon, said: <\/p>\n\n\n\n

\n

“For stablecoins to be widely adopted into mainstream payments and usage, stablecoin issuance and management needs to be customizable for any and all use cases.”<\/p>\n<\/blockquote>\n\n\n\n

Hedera claims that a stablecoin remittance proof-of-concept \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(PoC) using Stablecoin Studio has already been developed by Shinhan Bank and SCB TechX.<\/p>\n\n\n\n

The TypeScript-written SDK supports current internal banking systems, on-chain oracles, and management CLI to streamline interactions with smart contracts. <\/p>\n\n\n\n

Users can create a Hedera testnet account to access the React-based interactive demo sandbox. According to statistics from TradingView, Hedera's native cryptocurrency HBAR increased 5.8% in response to the news, reaching $0.51. <\/p>\n\n\n\n

The market value of the cryptocurrency increased to $1.7 billion. Hedera terminated network proxies on its mainnet in March 2023 due to “network irregularities.” Wallets and decentralized exchanges<\/a>, two crucial network functions, were also disabled. <\/p>\n\n\n\n

According to Pangolin Exchange CEO Justin Trollip, Defi research firm Ignas stated in an X post that the hack was directed at the “decompiling process in smart contracts.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Hedera network introduces “Stablecoin Studio” for its platform’s streamlined stablecoin issuance and management. With a new toolbox, Hedera, an open-source, leaderless proof-of-stake network, plans to compete with blockchain heavyweights like Ethereum (ETH) in the deployment of stablecoins. Hedera unveiled a new open-source tool to create stablecoin applications on their network in a blog post on […]<\/p>\n","protected":false},"author":43,"featured_media":59284,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9619],"tags":[15013,16424,6795],"class_list":["post-59285","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-web3-news","tag-hedera-network","tag-toolkit","tag-web3-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/croc_1694714906993.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/59285","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=59285"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/59285\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/59284"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=59285"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=59285"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=59285"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}