Review on Paxos Standard by Alex Martakov
And now we need to draw conclusions about the prospects of investing in the…
And now we need to draw conclusions about the prospects of investing in the paxosstandardtoken cryptocurrency. And the recommendation here is one: while users should be careful about this project. Win on price fluctuations will not work, as the pax rate is tied to the us dollar. And the long-term prospects of the project are still unknown.
Pros
- - Serious support from major investors. There are people in the management of the developer company who are well-known in the field of Finance. And this is the confidence of many large investors. This increases the interest in cryptocurrency on the part of users. -Excellent start of the project. Within a month since the launch of PAX, it has appeared on many major trading platforms. And this applies to both cryptocurrency exchanges and OTC exchangers. - Recognition of the project by official financial regulators. Many projects do not inspire confidence of the state bodies controlling the sphere of Finance. Their recognition steamline PaxosStandardToken – a circumstance that speaks in favor of the project. Quite an experienced team of developers. Paxos is familiar with Finance. And in crypto-currencies, the authors of PAX understand, given that they own an itbit exchange. So hopefully they know what they're doing. The demand for the product. Today there are many different stablecoin. However, a truly reliable token of this type has not yet appeared. And the pax cryptocurrency has chances to occupy this niche. For the rest, PaxosStandard has no distinct advantages.
Cons
- The lack of original ideas. The authors PAX studiously praise its baby for originality. But here, in fact, there is no innovation. PaxosStandard: classic token of ERC-20 standard. The project has not yet established itself. The authors of PAX are already known, it's true. But they do not have much experience in working with blockchain. Therefore, it is not known how successful their new project will be. And when you consider that it does not exist for long, it is difficult to draw conclusions about its success. A lot of competition in the market tablconv. Today there are many such assets. And recently they became only more. It should be noted here: PAX went along with GeminiDollar (GUSD). It is a cryptocurrency used on the Gemini platform owned by the winklevoss Brothers. And, because of the hype around GUSD, PAX was left without due attention from users and investors. The users ' attitude to the project is twofold. Many enthusiasts from the world of cryptocurrencies believe that the traditional financial system needs stablecoin, but not blockchain. Therefore, they are against such projects. This is how Tether, the first such token, was treated in its time. And the same attitude was transferred to other projects of this type. It concerns and Paxos Standard Token.
