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Every day, the cryptocurrency space sees new and exciting developments and progress. One particular area that has seen heightened exposure of late is the stablecoin. Stablecoins play an interesting role in decoupling blockchain utility from market volatility, and it’s likely that the niche will serve a vital role in the public adoption of cryptocurrency. Stablecoins, as the name suggests, represent a category of cryptocurrencies that are not subject to price volatility. They are stable in nature, and this stability typically comes from the backing of some alternative value. Perhaps the most prominent example of a stablecoin is Tether (USDT), which, of course, maintains a value equalPowered by WPeMatico
As cryptocurrency works its way toward mass adoption, one of its biggest obstacles is volatility. Markets change overnight, and we’re so desensitized to it that we don’t even blink at dips that would bring national economies to their knees. Stablecoins – cryptocurrencies that are tied to existing currencies or commodities like the US dollar or gold – are fungible, easily traded assets that bring us one step closer to mass adoption. While promises of $1 = 1 coin make stablecoins appear simple, stablecoin projects rely on complex algorithms to do the following: Keep the currency’s value from inflating, (e.g., increasing over a dollar) Keep the currency’sPowered by WPeMatico
The cryptocurrency based firm Circle announced it has raised $110Mn USD in a Series E fundraising round led by the Chinese firm Bitmain Technologies. Circle now joins Coinbase as one of the most well-funded cryptocurrency companies in the U.S., and the Boston-based firm has announced plans to issue a dollar-backed cryptocurrency called USD-C. Also read: Yahoo! […]
The post Circle Raises $110Mn With Plans to Launch USD-Backed Coin appeared first on Bitcoin News.
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When it comes to Bitcoin, the main barrier to mainstream use is the volatile price. Microsoft started accepting Bitcoin, then stopped, and then welcomed it back. Bitcoin, which was intended to solve the currency inflation problem, has rather turned into a means of storing value. It’s too precious and too unpredictable for real-world usage. The crypto community has tried to address this problem with stablecoins. Recently, GV (formerly Google Ventures), Bain Capital Ventures, Lightspeed Venture Partners, Andreessen Horowitz, and Sky Capital invested $133 million in Basis, a startup that created a cryptocurrency with a stable, predictable value. Basis tackles the volatility problem by creating morePowered by WPeMatico
When Fundstrat Global speaks, the crypto world listens. In recent months it has been a steady font of good news for the ecosystem, with five figure price calls to predicting a very bright future, a crypto future. Resident guru Thomas Lee more-or-less foretold the current after tax season spike in prices when many others were […]
The post Bitcoin’s Near Term Fortunes: “Inflows of Big Money,” New Indices Emerge appeared first on Bitcoin News.
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Too often, we’ve made incorrect assumptions about our security. Fraudulent charges are covered by our credit card protections, while the FDIC protects our bank accounts. When the entire financial system collapsed mostly due to the subprime mortgage lending industry, we assumed we’d be okay again, and the government bailed out the banks. We should never take our security for granted, and this is especially true when it comes to blockchain technology. Blockchain projects remain in the early stages, so it’s important to verify that the coding behind crypto wallets, exchanges, and projects are secure. No industry leader understands this better thanPowered by WPeMatico