Hey everyone, I have been writing an overview of most of the relevant stablecoins that are out there and how they attempt to compete with USD Tether. Will new stablecoins help phasing out the systemic risk that Tether still imposes on the crypto markets with all the trust that we need to put into that one single company of which none of us can confidently say that they aren't in fact fractional reserve banking with their coin.
My article describes these competitors, main characteristics and their current position in the crypto market:
Read the full article and you will have a very well understanding of the concept of stablecoins and the position that they take in the cryptocurrency markets: https://www.bitcoinforbeginners.io/cryptocurrency-guide/stablecoins-explained-overview/
My article describes these competitors, main characteristics and their current position in the crypto market:
- USD Tether (USDT)
- TrueUSD (TUSD)
- Paxos Standard Token (PAX)
- Gemini Dollar (GUSD)
- USD Coin (USDC) by Circle
- DigiX token (DGX), gold backed
- DAI token (DAI) by MakerDAO
- Nomin token (nUSD) by Havven
- Steem Dollar (SBD)
- Basis Coin
- Fiat collateralized stablecoins: backed by fiat currencies
- Commodity collateralized stablecoins: backed by commodities
- Crypto collateralized stablecoins: backed by cryptocurrencies
- Algorithmic supply stablecoins: not backed by any assets; stability relies on mathematics
Read the full article and you will have a very well understanding of the concept of stablecoins and the position that they take in the cryptocurrency markets: https://www.bitcoinforbeginners.io/cryptocurrency-guide/stablecoins-explained-overview/
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