Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => Topic started by: damsix on March 15, 2022, 12:33:51 PM
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According to my experience, there are many kinds of stable coins and as far as I know, there are about 3 stable coins that have been recognized worldwide for their strength, toughness, market cap and various other advantages.
Then I also slightly describe the advantages of each of these stable coins and summarize them with a few additional words, for example:
USDT : the advantage of having a lot of blockchain supports such as Ethereum, Binance Smart Chain, Solana, Polygon Matic, Polkadot, Chainlink.
USDC : ERC20's advantages are very much supported in every staking, farming, add LP etc.
BUSD : its advantages are fully supported by the world's number 1, Binance Exchange.
Apart from these three stable coins, are there other stable coins with different advantages ?
Let's talk about this uniqueness in stable coin scope !
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Different stablecoins will work on different blockchains in some cases, but their main benefit is pretty universal. I like to use it for keeping my money stable in between trades.
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The function of these stable coins is to benefit their blockchain and it really makes sense that we should be able to choose the best stable coins on each blockchain.
For example, USDT on the TRC20 blockchain from TRON is very cheap in transaction fees and I recommend arbitration when you want to buy coins on various Centralized or Decentralized Exchanges.
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I believe that this stable coin has very unique strengths for all existing markets, including the DEX that supports their Blockchain such as erc20, bep20, mt20, av20, ht20, trc20 etc.
All blockchains will also understand everything that happens to stable coins so that these stable coins are very much backed up by existing fiat and I'm sure the backup is very real with the money in circulation.
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The functions of stable coins are all the same, namely stabilizing prices so that there is no dump and pump for a digital asset in our wallet and the price doesn't change much with Fiat, that's why stable coins can be said to be stable because they are backed up by Fiat.
I am also sure that all existing blockchains and have stable coins must have their own advantages and with stable coins we can get whatever we want, even for Farming and Staking we can do it simply and easily on various DEXs.
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The conclusion from the OP is that all altcoins must have a myriad of achievements that can be easily developed because every stable coin created must have the power to sustain a stable value.
The system is designed in such a way that it is able for stable coins to survive and even enter the top 3 Coinmarketcap ranks like Tether and it certainly has funds, strength, community and various supporting factors that support Tether to this day in all markets.
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The stable coin stabilizes the price and does not have much change.
Stable coins are designed in such a way as to keep their value intact and stable.
All stable coin functions are the same but what is different is the name of the symbol.
If you have entered into various blockchains, it is certain that each blockchain has different advantages and we can also use it easily.
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I've looked into MetaverseME and believe they need to start with the basics. There are a lot of metaverse efforts, but only a few of them are good enough. MetaverseME must focus on the background of initiatives such as technological development and public relations if it is to be effective.