Future of Stablecoins, amidst Crypto conundrum!
S tablecoins are cryptocurrencies without volatility. Their functionalities are a lot similar to that of a cryptocurrency, but their value is steady, more like a traditional currency. It maximizes your chances of protection from extreme volatility. Any instrument to be used for the transaction should hold some fundamental value, commodities such as oil(is used as fossil fuel), steel(is used in construction industries) or precious metals like gold, possess that fundamental value. The collateralized stablecoin, which means their value is attached to some asset like US dollar, provides them greater legitimacy, hence security. Some stablecoins also employ algorithms to manage the supply and demand of the coin, so what is in circulation, matches what is held in reserve. Tether, USD coin, Binance USD, Dai, TerraUSD, TrueUSD, Pax Dollar, Neutrino USD are some of the examples of trending stablecoins. Why stablecoin could be a preference over cryptocurrency and can remain in vogue. Cryptocurren...