Codex strives to protect Ethereum from “attacks” of centralized stable chains
Source: CoinWorld
Time: 2025-09-09 04:02:57
Stablecoins will be a key use case for cryptocurrencies in 2025, driving institutional adoption. Ethereum leads with a stablecoin market value of US$153 billion, followed by Tron with a market value of US$81 billion, and the two together account for more than 81% of the market share. New competitors such as Plasma, Stable, Arc and Tempo, developed by Stripe and Paradigm, are trying to challenge this dominance. Codex founder Li Haonan defended Ethereum's status, saying that its rival blockchain "try to attack Ethereum" and vowed to completely defeat its competitors. Supported by a $16 million financing round led by Dragonfly, Codex aims to reduce fiat and stablecoins exchange time to near zero, and Ethereum co-founder Vitalik Buterin also endorsed the synergy of its Layer 2.