Review on Paxos Standard by Othere Obtentus
Regulated Stable coin
Just like Tether, Paxos is a completely USD-backed digital currency. Paxos, on the other side, is regulated and authorized by the New York State Department of Financial Services. Paxos' system incorporates distributed ledger technologies with the regulated trust status to reduce settlement hazards.
The idea underlying the development of this network has multiple advantages, and the concept can probably be described. The basic fact that Paxos is a regulated trust makes it lawfully permissible to swap funds and currencies. Pairing that authorization with blockchain technologies accelerates transfers exponentially yet at the same time experiencing the safety and security provided by blockchains. The risk is whereupon reduced. Companies and financial services can then become much more scalable and stable.
Pros
- USD-backed cryptocurrency
- Combines distributed ledger technology with the regulated trust status
- Modern Settlement Platform
- Regulated by New York State Department of Financial Services.
Cons
- Compromises privacy and anonymity
- No profit margin on trading
