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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.
Individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. [3] [4] [5] The two most common consensus mechanisms are proof of work and proof of ...
The star coins were struck first, and then the star was removed from the dies. [31] On April 15, Nichols wrote to the new Mint Director, Frank E. Scobey , stating that his commission had put the coins on sale, with the gold selling for $3.50 with star and $3 without, and the silver for $1.50 with star and $1 without.
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A new coin series was introduced in 1996 for 10, 50 and 100 leones. The 50 leones is octagonal while the other two are round. These coins were struck in nickel-plated steel and feature important figures in Sierra Leone's political history. Ten sided, bimetallic 500 leones coins were first introduced in 2004.
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The most valuable was the star pagoda, 100 of them were worth 350 rupees, issued by the English East India Company at Chennai. [3] [4] A star pagoda weighed 3g (of gold). [5] The second was the Porto Novo pagoda, issued by the Dutch at Thoothukudi and also by the Nawabs of Arcot, and worth about 25% less than the star pagoda. [6]