Stablecoins are cryptocurrencies created so that their value remains stable with respect to another asset. In most cases based on fiat or fiduciary money; that ´s to say, that it is backed by the banking systems. Just like the US dollar.Let´s see a clear example:A Stablecoin will retain a 1: 1 relationship with its fiat counterpart.The Tether dollar or USDT is worth the same as a US dollar, that is, 1 USDT = 1 USD
Respaldo en monedas fiat
These cryptos are not very stable in their valuation and to be able to maintain them they need some backup strategy that helps to achieve the purpose of the same.Among these are:
Support in fiat currrenciesIt is the most common, basically guarantees each token of the network of equal portion (1: 1) exemplified above. However, this system needs to raise capital to project a wide adoption of the cryptocurrency.Tether (USDT) is a clear example of this kind with greater acceptance, built in 2014.
Respaldo en commodities
Digix Gold (DGX) es una de estas, la cual establece que cada gramo de oro es un equivalente de la misma; logrando así proporcionar al criptoactivo en equilibrio en su precio.
Support in commoditiesIt works by supporting the value of the stablecoin using commodities; as well as gold, silver, diamond and oil.Digix Gold (DGX) is one of these, which states that each gram of gold is an equivalent of it; thus achieving to provide the cryptoactive in equilibrium in its price.
Respaldo en otros criptoacivos
Support in other crypto assetsThis system is generally complex, since it seeks to protect the price of the stablecoin with respect to the variation of the value of the cryptoactive. The method is based on supporting a token with the reserves of another crypto.An example is DAI, a cryptocurrency backed by the value of Ether (ETH) and a wide portfolio of tokens on this blockchain.
- Están pensadas para abordar la volatilidad actuando como un puente entre las criptos y las monedas fiduciarias
- Ofrecen gran liquidez en el mercado
- Al estar resguardadas, su estructura se vuelve centralizada lo cual contradice los principios fundamentales de las criptomonedas
- Al utilizar dinero fiat, el poseedor debe apegarse a reglas y normativas
Knowing all the above, we will share other important data of the Stablecoins:
- They are intended to address volatility by acting as a bridge between cryptos and fiat currencies
- They offer great liquidity in the market
- Being protected, its structure becomes centralized which contradicts the fundamental principles of cryptocurrencies
- When using fiat money, the holder must adhere to rules and regulations
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