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Seigniorage-style coins, also known as algorithmic stablecoins, utilize algorithms to control the stablecoin's money supply, similar to a central bank's approach to printing and destroying currency. Seigniorage-based stablecoins are a less popular form of stablecoin.
China based cryptocurrency, formerly ANT Shares and ANT Coins. The names were changed in 2017 to NEO and GAS. 2014 MazaCoin: MZC BTC Oyate Initiative SHA-256d: C++ [39] PoW: The underlying software is derived from that of another cryptocurrency, ZetaCoin. 2014 Monero: XMR Monero Core Team RandomX C++ [40] PoW
While most stablecoins are backed by assets, a smaller category known as algorithmic stablecoins relies on technical mechanisms, such as adjusting the supply of coins, to keep the price stable.
Stablecoins are cryptocurrencies designed to maintain a stable level of purchasing power. [48] Notably, these designs are not foolproof, as a number of stablecoins have crashed or lost their peg . For example, on 11 May 2022, Terra 's stablecoin UST fell from $1 to 26 cents.
[2] [3] It was founded by Star Xu in 2017, who is also the CEO as of 2023. [4] The President is Hong Fang [5] and the CMO is Haider Rafique. [6] OKX is owned by OK Group, which also owns the crypto exchange Okcoin. [7] [8] As of August 2024, OKX is Top 3 Spot Cryptocurrency exchange in the world according to Coinmarketcap with a Spot Exchange ...
Terra is a blockchain that leverages fiat-pegged stablecoins to power a payment system. For consensus, the Terra blockchain uses a proof-of-stake codesign. [4] Several stablecoins are built atop the Terra protocol, [4] including TerraUSD, which was the third largest stablecoin by market capitalisation before its collapse in May 2022. [5]
USD Coin (USDC) is a cryptocurrency stablecoin which is issued by Circle. It is pegged to the United States dollar , and is distinct from a central bank digital currency (CBDC). [ 1 ]
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