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Review on TrueUSD by Chinemere Unegbu
The team at TrustToken has a goal to create a series of asset-backed tokens…
The team at TrustToken has a goal to create a series of asset-backed tokens which can reduce to amount of risk involved with cryptocurrency investing, and help mainstream businesses feel more confident about embracing them. Their first project is TrueUSD, a dollar-backed stablecoin project which aims to avoid the many problems that have plagued its predecessor
Pros
- Stablecoins offer a solution. Unlike most cryptocurrencies, they (at least in theory) do not experience any changes in price because their value is tied to that of a fiat currency. The most famous of these is true usd, a stablecoin created by true usd Limited that is tied to the US dollar at a 1-to-1 exchange rate. The idea was that the amount of USDT in circulation matched the amount of actual US dollars held true usd Limited’s accounts. Investors could trade their cryptocurrency holdings for USDT, offering a degree of protection against sudden crashes in crypto prices.
Cons
- Know cons yet
