GOLDILOCKS
WHAT EXACTLY IS A STABLECOIN
"Stablecoins are a type of cryptocurrency that seeks to maintain a stable value by pegging their market value to an external reference. This reference could be a fiat currency like the U.S. dollar, a commodity such as gold, or another financial instrument."
"Stablecoins play a crucial role in the cryptocurrency ecosystem due to their stability."
"They aim to provide the speed and security of a blockchain while eliminating the volatility that most cryptocurrencies endure. Initially used primarily to buy cryptocurrencies on trading platforms that did not offer fiat currency trading pairs, stablecoins have seen their adoption grow. They are now used in several blockchain-based financial services, such as lending platforms, and can even be used to pay for goods and services.
© Newshounds News™
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CoinBase
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DO YOU UNDERSTAND BLOCKCHAINS?
Blockchains are the critical infrastructure underlying cryptocurrencies. The common feature of these distributed ledgers is the sequential updating of a cryptographically secure, verifiable transaction record among a network of peers all operating under a certain set of rules enforced through the software itself. This record is owned and operated in common by anyone anywhere.
While research in shared ledger technology goes back decades, the arrival of the Bitcoin blockchain introduced the first distributed ledger technology that was thoroughly decentralized and resistant to censorship, seizure and collusion.
Blockchain technology, in its various manifestations including the Ethereum blockchain and others, is ultimately a global consensus system — i.e., it allows people to coordinate and cooperate around a neutral source of information without trusting each other or a central administrator. The use cases are wide-ranging, from finance and energy trading to supply chain management.
At Cointelegraph, we are chronicling the evolving blockchain industry. Is it revolutionary or overhyped? Or both? Will it become the solution to securing trust in finance and global trade? What will be the rate of blockchain transactions in the coming years?
Stay tuned to find out.
© Newshounds News™
SOURCE: Coin Telegraph
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