The cryptocurrency market is extremely volatile, that is why there is a highdemand for stable assets. Today, we already know of multiple “stable coins”that are tied to the price of fiat currencies (e.g. USD, EUR) or commodities(e.g. gold, oil). According to coinmarketcap.com, the daily average volumeof stablecoins is comparable to that of Bitcoin, and even exceeds it on somedays.
To guarantee the consistency of collaterals, its accounts are regularly beingaudited. Unfortunately, in this case, only the “word of honor” of the auditorcompany can guarantee the availability of cryptocurrency resources.In the near foreseeable future, the situation will not change. The human factorcannot remain almost the only factor affecting the price of stablecoins. Inorder to change something, the cryptocurrency market needs a differentsolution. For instance, a software solution that excludes any intermediaries.The drawbacks of this type of stable coins are clearly illustrated by the graphsof their market capitalization: the drops coincide with the report periods. Infact, stable coins are a centralized instrument that can be either created ordestroyed anytime by the will of a third party.
Among the ways of eliminating the issues of centralization and the trustmodel are stable collateral coins that have the following distinctive features:• every token is over-collateralized by other crypto asset;• token emission is only possible through backed smart contract;• every participant can check the collateralization of any token;• stability is guaranteed by the system algorithm.
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