Review on HonestCoin by Pedro O. Alvino M.
Stable coin with BCH blockchain technology
Developed to have a manageable currency to be usable for payments and investments through a base design of the BCH chain that has an acceptable network despite network congestion, as well as being supported and regulated by the government of The USA.
With simple functions in the market, USDH has a very basic system of use so receiving and sending this currency is very simple, however in order to acquire this currency you must top up with Fiat currency through the Honestcoin platform either with a bank card or transfer, but apart from this, the KYC verification of the platform must be passed.
In the market there are many stable currencies but there are few that are supported and regulated by a government, but even if the future of this currency is uncertain given the null availability in exchanges and without information about the circulation of currency, it promotes a repeated abandonment to the project since there are no announcements about the project and information from the founders.
Pros
- Stable currency regulated by the US.
- Its network architecture is based on the BCH chain.
- Offers several channels for payments with USDH.
- Through the platform allows the recharge and purchase of USDH with Fiat currency.
Cons
- The project is in total abandonment by its followers and developers.
- Very limited information about the price and market volume of the coin.
- A KYC verification is required on the platform in order to start using USDH through top-ups with Fiat currency.
- There are already a large number of stablecoins on the market.
