Review on NuBits by David Olayide
NuBits Cryptocurrency
NuBits is a cryptocurrency that has the goal or aim of being a stablecoin that has a value equivalent to that of the US Dollar. It attempts to maintain the stability by distributing voting shares NuShares among its users, which in turn gives users the ability to vote on motions and changes in the network. The project boasts of versatility and that was what caught my attention personally.
I think that NuBits has a proper course of action laid out already. For example if there should ever be an occurrence of hyperinflation then, NuBits shareholders have the power to peg NuBits to another currency or even a group of commodities. NuBits cryptocurrency is managed by a Decentralized Autonomous Organisation with the same name.
NuBits uses a system dependent on its users and community in order to reduce volatility and remain stable. So you can see that the NuBits cryptocurrency has a host of very attractive features that are very important for a stablecoin.
From what I have seen, the stability of NuBits looks quite good and I think they will be able to maintain that if they keep to their game plan. You can find NuBit coins on Bittrex and SouthXchange. For android devices there is the NuDroid Wallet app but this app isn’tavilae for iOS. The circulating supply of coins is 10.19 million NuBits coins, out of a total supply of about 70.42 million coins.
Pros
- Stability against volatility
- Highly versatile
- NuShares allows voting
- NuBits can easily avoid hyperinflation
Cons
- None
