Stripe Launches L1 Blockchain: Tempo • Hacker News Board

Re: Stripe Launches L1 Blockchain: Tempo

#81

Post by highfrequency » Thu, Sep 04, 2025, 5:28 PM UTC

> EVM-compatible, built on Reth

Anyone know what this actually means? Both literally (what is Reth?) and what it means qualitatively: are Stripe’s crypto efforts competing with Ethereum or strengthening it?

Re: Stripe Launches L1 Blockchain: Tempo

#82

Post by srameshc » Thu, Sep 04, 2025, 5:31 PM UTC

[flagged]

Re: Stripe Launches L1 Blockchain: Tempo

#83

Post by fcantournet » Thu, Sep 04, 2025, 5:31 PM UTC

fauria wrote: post #19

Honest question: what kind of problem does this solve?

It solves a problem for Stripe : potentially evading some incoming regulations in payments in the UK/EU (and U.S probably).

Regulations in payments tend to be very technical, and inserting some crypto/distributed plausible deniability in the mix could get them 5 more years of delay (until the next generation of regulations). It will depend on how those regulations take shape in the coming months.

Re: Stripe Launches L1 Blockchain: Tempo

#84

Post by throawayonthe » Thu, Sep 04, 2025, 5:31 PM UTC

ArtTimeInvestor wrote: post #70

javier123454321 wrote: post #32

Earlier quoted context omitted.

No, you misunderstand and are closed minded. Their corporate leadership has already stated in the roadmap and core value document that it will be neutral and permissionless.

First, relying on plans some corporate leadership states is the opposite of a decentralized approach. Second, permissionless does not mean decentralized. You can have all validation of a POS chain ending up on a single computer.

i think they're joking

Re: Stripe Launches L1 Blockchain: Tempo

#85

Post by observationist » Thu, Sep 04, 2025, 5:32 PM UTC

m00dy wrote: post #74

brunohaid wrote: post #53

Earlier quoted context omitted.

It’s a hilarious definition of “fix” but the basic argument is that when you mandate stablecoins to hold treasuries and they start seeing actual adoption, you create demand/sink for a couple extra trillion dollars of treasury bonds. Eg if Australian locals suddenly switch transacting cocaine at scale in Tether instead of AUD, the US government can borrow more money by providing that collateral to Tether. Edit: Izzy K…

First, Cocaine prices are way too expensive in Australia Second, Tether is not a regulated stablecoin in United States.

You might be onto something here... Make Australian Cocaine Cheap Again

Re: Stripe Launches L1 Blockchain: Tempo

#86

Post by latchkey » Thu, Sep 04, 2025, 5:33 PM UTC

super256 wrote: post #9

luma wrote: post #2

I question the logic behind trying to introduce a new blockchain in 2025 but I have to acknowledge how fricken cool the scroll animation is here.

Telegram has recently proven that there is still demand for this stuff.

Price action disagrees...

https://coinmarketcap.com/currencies/tac-protocol/

Re: Stripe Launches L1 Blockchain: Tempo

#87

Post by latchkey » Thu, Sep 04, 2025, 5:36 PM UTC

highfrequency wrote: post #81

> EVM-compatible, built on Reth Anyone know what this actually means? Both literally (what is Reth?) and what it means qualitatively: are Stripe’s crypto efforts competing with Ethereum or strengthening it?

EVM - ethereum virtual machine, meaning the execution layer for smart contracts, typically written in Solidity.

Reth - ethereum protocol client written in rust. https://github.com/paradigmxyz/reth

Re: Stripe Launches L1 Blockchain: Tempo

#88

Post by bgwalter » Thu, Sep 04, 2025, 5:40 PM UTC

bflesch wrote: post #73

bgwalter wrote: post #69

Who is backing this stablecoin? Who is managing the backing? Where is Tempo located? Tether has now moved to Bukele's paradise El Salvador and its backing is managed by Howard Lutnick's Cantor Fitzgerald. Previously Tether's funds were managed by Deltec in the Caribbean, a bank with a colorful history.

It's crazy that after all this time Tether is still a thing.

It has a certain utility and powerful friends:

https://www.ft.com/content/b3c5b67d-1df8-4417-8dd5-2c86d76d6...

Re: Stripe Launches L1 Blockchain: Tempo

#89

Post by [deleted] » Thu, Sep 04, 2025, 5:40 PM UTC

highfrequency wrote: post #81

> EVM-compatible, built on Reth Anyone know what this actually means? Both literally (what is Reth?) and what it means qualitatively: are Stripe’s crypto efforts competing with Ethereum or strengthening it?

[deleted]

Re: Stripe Launches L1 Blockchain: Tempo

#90

Post by rhubarbtree » Thu, Sep 04, 2025, 5:41 PM UTC

brunohaid wrote: post #53

adastra22 wrote: post #31

Earlier quoted context omitted.

What does a separate payment rail have to do with the US debt?

It’s a hilarious definition of “fix” but the basic argument is that when you mandate stablecoins to hold treasuries and they start seeing actual adoption, you create demand/sink for a couple extra trillion dollars of treasury bonds. Eg if Australian locals suddenly switch transacting cocaine at scale in Tether instead of AUD, the US government can borrow more money by providing that collateral to Tether. Edit: Izzy K…

In this scenario, what happens when there’s a run on a stablecoin?

The bonds are sold en masse, and the value of those bonds will be hit, driving up gov borrowing costs (plus they just lost a source of demand), meaning the stablecoin “bank” could be bankrupt, right?

With stable coins you’re really trusting a private company to invest your money in a way that is robust to a drop in confidence. Isn’t this high risk? If a coin gets large enough, is it a threat to government solvency?