Review on Digital Rand by LUIS RIVERO R
Stable cryptocurrency. South Africa.
Named as the first cryptocurrency for South Africa, stable 1 to 1 With the South African Rand, which allows you to make real-time payments 24 hours a day using crypto assets, it can also be settled directly to USD to avoid fluctuations in the market.
Protocol used: ERC-20 Ethereum.
Backup method: Smart contracts supporting to lock different assets available on the ethereum chain.
Storage: It can be stored in any ERC-20 wallet from eth.
In general one of the fundamental aspects of a stable currency is to know who is behind the project, however in DZAR this matter is not very clear, being a centralized value protocol, anyone should be able to know who is behind it.
Pros
- Stable cryptocurrency backed by ethereum contracts.
- They cannot be issued to circulation more than what is supported.
Cons
- Website out of service, security warning when entering website.
- Most of the volume is excluded from the daily total.
