Noble’s new ‘AppLayer’ lets developers build stablecoin tools on Celestia, revolutionizing stablecoin development with a high-throughput rollup and seamless integration with Ethereum.
Noble’s New ‘AppLayer’ Lets Developers Build Stablecoin Tools on Celestia
Noble, a blockchain for issuing real-world assets (RWA) and stablecoins, has announced the expansion of its platform by introducing ‘AppLayer‘, an Ethereum-compatible rollup that allows developers to create their own RWA applications and infrastructure. This move aims to provide high throughput of stablecoins and reliable stablecoin infrastructure.
Unlocking Cross-Ecosystem Potential
Noble’s AppLayer will leverage Celestia, a data availability blockchain that seeks to bring down storage costs for data-intensive blockchain networks. Celestia is compatible with the Ethereum Virtual Machine (EVM), enabling seamless integration with other Ethereum-based chains. This compatibility allows developers to build RWA applications and infrastructure optimized for real-world assets like stablecoins.
A New Era for Stablecoin Development
The launch of AppLayer marks an exciting development in the stablecoin space, as entities such as President Trump‘s World-Liberty Financial, banking giant Fidelity, and the U.S. state of Wyoming have also expressed plans to create their own stablecoins. With Noble’s AppLayer, developers can now build highly scalable and performant stablecoin-native applications, unlocking the full potential of stablecoins.
A stablecoin is a type of cryptocurrency that maintains a stable value relative to a fiat currency, such as the US dollar.
This stability is achieved through various mechanisms, including collateralization and algorithmic models.
Stablecoins are designed to reduce volatility in cryptocurrency markets and provide a more user-friendly experience for everyday transactions.
They are often used for trading, remittances, and even lending protocols.
With their growing adoption, stablecoin development has become a crucial aspect of the cryptocurrency ecosystem.
A Brief History of Noble
Noble was launched in March 2023 as an application-specific blockchain, or ‘appchain‘, purpose-built for stablecoin issuance within the Cosmos ecosystem. Initially, it aimed to expand liquidity by enabling native asset issuance through the Inter-Blockchain Communication (IBC) protocol. Over time, Noble has extended its reach beyond Cosmos, integrating with Ethereum and other ecosystems to facilitate quick stablecoin transfers.
A New Era of Stablecoin Issuance
Stablecoin issuance involves creating a new stablecoin, which is a type of cryptocurrency designed to maintain a stable value relative to a fiat currency.
This is typically achieved through a pegged exchange rate with the underlying asset, such as the US dollar.
The issuer must hold reserves equal to or exceeding the outstanding supply of the stablecoin to maintain its stability.
Popular stablecoins include Tether (USDT) and USD Coin (USDC).
Issuers must comply with regulatory requirements, including anti-money laundering (AML) and know-your-customer (KYC) regulations.
In March, Noble introduced USDN, a yield-bearing stablecoin backed by U.S. Treasury bills. According to Jelena Djuric, co-founder and CEO at Noble, ‘Building stablecoin issuance infrastructure over the past two years has given us a deep appreciation for the transformative potential of stablecoins.‘ With AppLayer, Noble is finally giving builders the freedom to build highly scalable and performant stablecoin-native applications.
Conclusion
The launch of Noble’s AppLayer marks an exciting development in the stablecoin space. By leveraging Celestia and providing an Ethereum-compatible rollup, Noble is unlocking its cross-ecosystem potential and enabling developers to build highly scalable and performant stablecoin-native applications. As the stablecoin landscape continues to evolve, it will be interesting to see how AppLayer contributes to this growth.
AppLayer is a security framework developed by Noble, focusing on protecting applications and their data.
It uses a combination of encryption, access control, and monitoring to prevent unauthorized access.
The framework consists of several components, including the AppLayer Gateway, which filters incoming traffic, and the AppLayer Agent, which monitors application activity.
By implementing AppLayer, organizations can enhance their security posture and protect against various threats.
