A new project for a stabilized cryptocurrency that would function “like normal money,” has received backing from Peter Thiel, Coinbase, Distributed Global, GSR.IO and 40 others, according to a press release shared with Cointelegraph June 20.
The problem with supporting a peg via cryptoassets that are all within a stablecoin’s smart contracts is that loss in confidence in that particular stablecoin can spiral out of control.
Reserve considers that a price-stable cryptocurrency would offer a solution for countries where failing fiat currencies and high inflation rates jeopardize citizens’ savings.
While unpegged existing cryptocurrencies can already protect citizens from governments by being decentralized, their price volatility nonetheless limits them from serving most retail uses.
Unlike Reserve, Circle’s focus is on fiat-stabilized coins – of which Tether (USDT) is the most famous, if controversial, example.
A new project for a stabilized cryptocurrency that works ‘like normal money,’ has received backing from Peter Thiel, Coinbase, Distributed Global, GSR.IO and 40 others
There is substantial controversy surrounding Tether, a cryptocurrency that claims to be pegged to the U. S. dollar. According to Tether, each Tether token is backed by one U.
The new platform, called the “Ethereum time machine,” extends Ethereum’s programming capabilities by allowing smart contracts to execute transactions based on uncertain or not-guaranteed future events.
Cardano, known for its innovative blockchain platform, has been experiencing a remarkable surge in smart contracts, particularly within the Plutus V2 framework.
The "Protocol 20" upgrade, which adds support for Ethereum-style smart contracts to the decade-old payments-focused blockchain, had been delayed by three weeks due to precautions after a bug was found.
The European Parliament said on Nov. 9 that it has voted in favor of a Data Act that will set out rules in various areas, including smart contract development. The current announcement says that the act has been adopted with 481 votes in favor and 31 votes against, with 71 abstaining votes.
