Sentences with phrase «fiat currency protocol»
«It could be argued that, in some ways, the Bitcoin protocol is more robust than many of the existing fiat currency protocols.
https://bitcoinmagazine.com/ Not exact matches
According to the protocol, the payments can involve any cryptocurrency, goods, fiat currency, or any other unit such as mobile minutes or passenger bonus miles.
Ripplecoin, created in 2011, was built on the same protocol as Bitcoin but services as a payment system — think of it like a Paypal for cryptocurrencies that supports any fiat currency, cryptocurrency, commodity or even frequent flier miles.
The ERC20 Tether allows for tokenized USD to be exchanged on the Ethereum network, enabling interoperability with Ethereum - based protocols and DApps whilst allowing users to transact with fiat currencies across the Ethereum Network.
The press release finishes by speaking of exploring «options for fiat connectivity across major world currencies, and... access to innovative token projects that extend cryptocurrency protocols to new use cases.»
However, critics would perceive this as a flawed protocol as the coins effectively become promissory notes that are remarkably similar to fiat currency.
Jibrel Network, a decentralized protocol for storing and transacting traditional financial assets on the ethereum blockchain, announced on Wednesday it has launched jCash, which is described as Jibrel's first release of tokenized financial assets, providing fiat currencies in the form of ERC - 20 tokens.
It's currently more divisible than fiat currencies, and it's possible to update the protocol and increase the divisibility in the case that bitcoin increases significantly in value.