Anatomy of a Dollar vs USDC
Compare traditional US currency with digital stablecoin on Solana
💡 Interactive: Click on any element in the US Dollar or USDC visualizations below to see how they match up between fiat currency and digital currency on Solana!
US Dollar
Physical Elements:
- Face Value: $1.00 (2 decimals - dollars and cents)
- Serial Number
- Federal Reserve Note
- Treasury Seal
- Official Signatures
USDC on Solana
Digital Elements:
- Token Amount: 1.000000 (6 decimals for precision)
- Wallet Address (Public Key)
- Issuer: Circle
- Smart Contract Address
- Cryptographic Signatures
Key Concepts
Decimal Precision
USD: 2 decimal places ($1.00 = dollars and cents)
USDC: 6 decimal places (1.000000 = higher precision)
Issuance
USD: Federal Reserve prints physical bills
USDC: Circle mints tokens on Solana blockchain
Verification
USD: Check serial numbers, watermarks, security features
USDC: Verify on-chain transactions and smart contract
Transfer
USD: Physical handoff or bank wire
USDC: Instant blockchain transaction
Backing
USD: Full faith and credit of US government
USDC: 1:1 backed by US dollar reserves (audited)