Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: ShiraWilliam on July 18, 2020, 01:02:43 PM
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Stablecoin usage are increasing day by day because of its well known beneficial feature of reducing volstility & it is very effective when using the asset backed stablecoin. So when asset backing stablecoin is widely categorized in three forms which are commodity-backed, fiat-backed and cryptocurrency-backed. Stablecoins are pegged with some asset which is known as asset backed stablecoin.
Thus ensures asset backed stablecoin ensures safety from any economical crisis and what about hacking or losing the cryptos?. Thus for that in fiat-backed stablecoin the peg is executed via smart contract. Smart Contract is basically build from blockchain so that obviously in safety & security which is widely known with other benefits.
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Thank you for the ad and this really helps those of us who don't know yet about how to make smartcontracts for stable coins.
The fact is that these stable coins can become dumps and it also depends on traders and those playing in various markets for stable coins.
Unfortunately if the price is dumped, then the trader will lose a lot and this is also not the right choice to trade with stable coins.
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I don't think it's a matter of smartcontracts if we want to create something new in crytpocurrency if it's racing on stable coins.
This stable coin has a very big influence on cryptocurrency and if we are wrong in creating a stable coin then there will be a ferment that is languishing.
I hope it is not arbitrary to create stable coins because it takes extra funds to create it.