RATE Group | The latest craze in the cryptocurrency world – Stablecoins
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The latest craze in the cryptocurrency world – Stablecoins

02 Oct The latest craze in the cryptocurrency world – Stablecoins

Posted at 14:42h in Cryptocurrency News by

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Cryptocurrency projects are still popping up regularly, with many investors keeping an eye on burgeoning ICOs and startups in the blockchain space.

A new growing trend in the cryptocurrency industry is the development of “stablecoins” – cryptocurrencies which remain stable in relation to conventional fiat currency or assets.

A recent report published by wallet provider Blockchain found that the number of stablecoin projects increased drastically in the last 18 months, with more than 50 in development globally.

Due to the constant volatility of the cryptocurrency market, it can be difficult to use cryptocurrencies as a transactional currency.

Stablecoins aim to solve this problem by creating cryptocurrencies which peg their value to fiat currency like the US dollar, or to the price of a physical asset like gold.

What is a stablecoin?

A stablecoin is a cryptocurrency backed by an asset.

These currencies can either be reserve-backed or algorithmic. Reserve-backed currencies are…

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