Circle releases v2.2 for USDC and EURC stablecoins with improvements to account abstraction, security, and lower gas fees

Quick Take

  • Circle released its v2.2 upgrades for its USDC and EURC stablecoins.
  • New features include decreased gas costs, better support for account abstraction and increased security for transactions on EVM blockchains. 

Stablecoin issuer Circle launched its v2.2 upgrade for USDC and EURC. 

The new features for the two stablecoins include decreased gas costs, better support for account abstraction and increased security for transactions on EVM blockchains, according to a company statement. The last time Circle unveiled upgrades to USDC was in early 2021, the firm added. 

"There will be six new changes to the USDC and EURC smart contracts and they'll be implemented through a single v2.2 upgrade for each supported EVM blockchain. The upgrade is fully backwards-compatible, does not introduce any breaking changes to existing integrations, and requires no action from developers or users," Circle wrote in the release.

The blockchain security firm Halborn audited all the code changes. 

Upgrade roadmap

Further updates include enabling signature validations from smart contract wallets, improvements to checking blocklists, better resilience against forks, removing blocklist checking from functions that don't move funds, skipped timestamp check when deadline is set to maximum amount, and a one-time rename for the EURC symbol from EUROC, the firm added. 

Circle will begin rolling out the v2.2 upgrades on Nov. 9 and plans to finish the updates "the next few months."


© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

TAGS
USDC

About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University's Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

Editor

To contact the editor of this story:
Nathan Crooks at
[email protected]