Showing posts with label stable coins. Show all posts
Showing posts with label stable coins. Show all posts

A look at 3 other 'stable coins' that could to destroy Tether's market dominance...

The volatility of crypto makes it impractical to use as an everyday transactional currency. Until the markets mature and price levels out, the only hope of mass adoption lies in the foundation of a viable “stable coin”, or a cryptocurreny pegged to a stable asset like the U.S. dollar. Many believe that the emergence of a strong stable crypto will herald an exodus from fiat into the world of internet money.

Currently there are more than 8 coins vying for this position on They all have slightly different constitutions and proposed uses. Here are three of the most popular, and what makes them distinct.

1. True USD - An ERC-20 token pegged to USD. TUSD is a product of TrustToken, a platform which will eventually have tokens pegged to other assets like bonds and real estate. TUSD does not currently have many trading pairs, but it can be bought with BTC on Binance, Bittrex, Upbit and others.

2. Dai - From decentralized autonomous organization MakerDao, Dai is pegged to USD but backed by Ethereum. It runs on the ETH blockchain as a smart contract and is therefore public and transparent. Dai is not yet available on major exchanges, but can be found on Bibox and Hitbtc.

3. Havven - (Nomin) Also a decentralized organization, Havven is a blockchain whereby stable coins called Nomin are transacted. Havven is still speculative as it hasn't been tested on exchanges yet. Buy on Kucoin or

For now, coins like Tether and True USD are mainly used are safe-haven during Bitcoin corrections, though it should be noted that trading any crypto this way comes with risks. None of these products are perfect, they all have flaws, questionable origins, or over-complicated whitepapers. In some ways it has become a race for the prize. One thing is certain: any semblance of mainstream adoption relies heavily on the promise of a stable, fast, secure, and available medium.

Author: Jeffrey Byron
Los Angeles News Desk