Like the rest of the cryptocurrency market, it makes sense that the market's sub-sectors will have many different competitors so a large variety
of stablecoins in the future will become necessary.
There's a good discussion of
stablecoins in our episode with Vlad Zamfir and Haseeb Qureshi on cryptoeconomics.
TrustToken has launched trading for TrueUSD, «the first independently verified asset -
backed stablecoin on the market that fixes its value to the U.S. Dollar.»
So while a Tether or a TrueCoin are created
as stablecoins backed by US dollars, we already know the legitimacy of the USD itself.
To maintain the value of the deposit relative to fiat currency RxEAL in cooperation with Maker Dao will offer users to store their deposits inside a smart contract in the form of ERC20 standard compliant
Dai Stablecoin.
For customers who want to keep their balances in any of 50 fiat currencies, the platform
uses stablecoins based on bitcoin or litecoin in conjunction with smart contracts (also based on bitcoin or litecoin) to offset crypto price volatility, according to the company.
See, Basis is a cryptocurrency that will be pegged to the U.S. dollar, or a so -
called stablecoin.
New research suggests that cryptocurrency startup Tether — creator of dollar -
pegged stablecoin USDT — has a banking relationship with...
The result is Dai, the first fully - decentralized
stablecoin on Ethereum.
Basis does not plan to «peg» its price to the dollar like other successful
stablecoins such as Tether (USDT) have done.
On the other hand, there have been other examples of
stablecoins which have proven themselves to be trustworthy and fully transparent.
What I gathered from that Vitalik Buterin post on this subreddit was that Tether and
other stablecoins can work as long as people believe in it.
In today's episode: Twitter scams are back, monero goes fork crazy, and
stablecoins go head - to - head.
Bitfinex ended its announcement by revealing the upcoming support for Dai, a
decentralized stablecoin created by the MakerDao team.
On Sunday, Buterin deployed several April Fool's Day pranks, including one not - so - subtle post on the Ethereum Foundation blog announcing the creation of an «official
Ethereum stablecoin» called World Trade Francs.
In the past few months, buzz has been building
about stablecoins, a type of cryptocurrency that uses either complex economic models or real world assets to maintain some sort of stability and ensure investor confidence.
When people realize the folly that is traditional currency, its intrinsic value and rethink the very idea of money, they will realize the potential of cryptocurrencies, and more
so stablecoins, and physical assets like gold and silver themselves.
Stablecoins like DGX will be an important piece of networked liquidity in the crypto ecosystem in the future for payments, term loans, and anything that requires a more stable store of value.
Tether, the
biggest stablecoin pegged to the US dollar, has recently come under fire due to a lack of transparency.
New research suggests that cryptocurrency startup Tether — creator of dollar - pegged
stablecoin USDT — has a banking relationship with Puerto Rican financial institution Noble Bank.
Naturally,
stablecoins don't have the same profit potential as coins like bitcoin.
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«I've eagerly awaited the launch of a transparent and regulatory
compliant stablecoin,» commented Ari Paul, co-founder of BlockTower Capital.
When a
new Stablecoin is released, / USDX token holders receive the same value equivalent in the new pegged currency, according to the release.
While Bitcoin holders might be reluctant to spend Bitcoin in transactions and miss out on potential gains,
stablecoin users don't have the same concerns.
Amid the unprecedented surge, EOS has become the third most traded cryptocurrency on the market, behind only bitcoin and Tether (USDT), a
controversial stablecoin.
There are
many stablecoins, but only one that has one investor who busted a central bank and another who used to help run one.
The
Basecoin stablecoin project was a big hit with investors, raising $ 125 million through a Simple Agreement for Future Tokens (SAFT) sale, according to a recent...
Nations that are successful with their
own stablecoin would be able to use the system in tandem with their existing financial institutions and other cryptocurrencies, without having to enforce harsh regulations and asphyxiate the innovation that the blockchain has brought to the table this year.
USDX Protocol said it plans to release
additional Stablecoins pegged to other currencies and financial instruments, such as foreign exchanges and commodities.
Initially, the team plans to launch a / USDX token, which it said is a mining proof of a brand new blockchain, before unveiling its
first Stablecoin.
Virtual asset developer, Singapore - based New Money Labs Foundation on Tuesday unveiled plans for a third
generation Stablecoin, using its USDX Protocol, which it claims will ultimately solve the extreme volatility in the crypto market.
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Stablecoin Tech / Vinny Lingham / Zcash
TrueUSD's new platform is the first and
only Stablecoin that is 100 % collateralized, allowing it to provide certificates of ownership of real fiat currency in a decentralized bank account.
For example, earlier this month Bittrex added a
second stablecoin in the form Trueusd, in a move seen as a hedge against future Tether regulation.
In early December, the Commodities Future Trading Commission sent out subpoenas to the operators of cryptocurrency exchange Bitfinex and
stablecoin venture Tether.