Review on Gemini Dollar by макс вольф

Name: Gemini Dollar
Item: Gemini Dollar
Rating: 5

January 22, 2019

Regarding the advantages, Gemini defined Dollar more protected. It is…

Regarding the advantages, Gemini defined Dollar more protected. It is regulated by the US government, audits are constantly conducted, smart contracts are thoroughly checked.
It is also worth noting that the Winklevoss brothers have an excellent reputation, unlike Tether. The latter are constantly accused of manipulating the price of bitcoin, suspicious connections with the Bitfinex exchange and the lack of evidence of a Fiat reserve. Moreover, Winklevoss actively develop its cryptocurrency Empire, for example, actively trying to start a bitcoin ETF. With their reputation and drive, they can take their business to whole new heights in the next few years by pulling GUSD with them.
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Pros

It is the world's first regulated stable cryptocurrency. The Gemini dollar is the creditworthiness and price stability of the USD, with blockchain technology and regulation from the us Supervisory authority. Simple and clear mechanism of Gemini Dollar. That is, it acts as an investment instrument, and it is also created at the time when the user makes a Deposit. It works as follows: Holder will initiate the withdrawal of their funds from the account of Gemini on account of the Ethereum. Inside the network, a GUSD is created, then the dollar amount is debited from the balance, and the Ethereum is sent from the account to the user's address.

Cons

Perhaps the only drawback of GUSD is the fact that IT is built on the Ethereum platform. Let's be Frank: at the moment the ether has serious problems with scalability. The recent history of CryptoKitties showed us that one game can derail the entire network. It is hoped that the Butorin team will be able to solve all the existing problems with the help of updates. In defense of Ethereum, we can say that the fees for transactions in the network are quite low. If we consider stablecoin as a tool to transfer value, no one will want to pay high commissions at a loss.