Review on Gemini Dollar by Alex Martakov
In General, stablecoin Gemini Dollar looks quite promising. So far, it is…
In General, stablecoin Gemini Dollar looks quite promising. So far, it is difficult to make long-term forecasts. But there is a chance that in the future it will become one of the main means of exchange between the blockchain and classical financial systems.
Pros
- in theory, the price of the described cryptocurrency is fixed and tied to the us dollar. Fluctuations in other similar assets (BTC, ETH, etc.) do not affect its rate. Tokens are created on the basis of the Ethereum blockchain. They use the ERC-20 standard. When you run the project the ICO and presales have not been conducted. There was a closed sale, but its results were not disclosed. The system works on the basis of smart contracts that control the process of issuing tokens. The cryptocurrency code is open for verification by all interested parties. Every user with the necessary knowledge can test it for errors. The same applies to smart contracts used in the system. Currently, GUSD is the top steilcoom. It is available for purchase and sale on most major cryptocurrency exchanges. Have a Gemini is no Dollar maximum emission. The number of tokens in circulation is equal to the USD reserve created to maintain this cryptocurrency.
Cons
- Centrality. According to one of the critics, the authors of GUSD are able to stop supporting this cryptocurrency at any time. The presence of a large number of competitors. In particular, it is necessary to remember about Tether. This stabilin already managed to ruin your reputation, but still extremely in demand in many markets. Serious rivals are new tokens that appeared simultaneously with Gemini Dollar. Low demand among traders and many investors. The asset price is pegged to the us dollar. Therefore, its price will not change as actively as, for example, the price of bitcoin or ether. Therefore, the coin is less in demand.
