Stablecoins and their Value Proposition in the Crypto Ecosystem

Written by techmoths | Published 2021/04/07
Tech Story Tags: stablecoins | crypto-ecosystem | crypto-lending | crypto-trading | crypto-market | crypto-exchange-business | good-company | cryptocurrency

TLDR Stablecoins are crypto assets that are backed by a relatively stable asset to minimize the price volatility associated with crypto markets. This class of crypto coins rose to fame as an alternative for accommodating less volatility while trading crypto assets. The most popular crypto-backed stablecoin is DAI; this innovation was launched by MakerDAO and leverages the. Ethereum blockchain to run a decentralized. reserve reserve. Stablecoin supply increased by around 322% in 2020 to hit $24.8 billion from $5.9 billion.via the TL;DR App

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Published by HackerNoon on 2021/04/07