Tempo, the blockchain developed by Stripe and Paradigm, has released its first public testnet.
In its announcement on December 9, Tempo said that the testnet is open source and ready for public use. Anyone interested can set up a node, connect to the network, and explore its current tools and features.
According to Tempo, the testnet launch begins the next stage of development. Their focus is on improving scale, reliability, and integration.
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In the coming months, they plan to bring in more infrastructure partners, add new tools and features, and test the network’s performance under real payment conditions.
The platform currently supports six main functions: payment lanes designed for specific use cases, stablecoin-based gas fees, a built-in decentralized exchange for stable assets, metadata for payments and transfers, quick and final transaction confirmation, and modern wallet signing systems.
Tempo also explained that the network was built to handle payments efficiently and predictably.
Following the launch, Paradigm’s general partner and chief technology officer, Georgios Konstantopoulos, posted on X about a feature that lets users create stablecoins directly through their browsers on the testnet.
The tokens issued on Tempo are built using its TIP-20 token standard. However, the current documentation does not specify the liquidity and collateral rules that will apply once the main network goes live.
US Bancorp recently launched a stablecoin pilot on the Stellar blockchain, with support from PwC and the Stellar Development Foundation. What is the goal of the trial? Read the full story.
