Insolar Launches Testnet 1.1 making it the most Scalable Enterprise Blockchain Platform
Wednesday March 06, 2019
Insolar, a global technology company building innovative public and private blockchain solutions, just launched the Testnet 1.1 of its blockchain platform by making use of external nodes in its network. A number of corporate and academic partners have already reserved their nodes, including several bluechip companies and top tier academic institutions. The Swiss technical University
Uber is One Of the Worst Performing IPOs in Last 40 Years
Saturday May 11, 2019
Coinspeaker Uber is One Of the Worst Performing IPOs in Last 40 YearsOne of the most anticipated IPOs of 2019, Uber Technologies Inc. produced an unusual bad stock performance on Friday for a company of its size and they, for sure, didn’t expect it.According to noted IPO watcher Jay Ritter of the University of Florida,
/* Style Definitions */
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-bidi-font-family:”Times New Roman”;
Volum and LAToken Announce IEO for 17th of May
Saturday May 11, 2019
Coinspeaker Volum and LAToken Announce IEO for 17th of MayFast-growing cryptocurrency exchange, LAToken is preparing for one of its most anticipated Initial Exchange Offering (IEO), which is planned to take place on the 17th of May 2019. The anticipated IEO would involve the sale of VLM tokens, representing the underlying token for the innovative blockchain-based
Stablecoins seem to be the flavor of the month, or the last few months. A lot of stablecoins have recently made their entrance and now a rather unique one has just entered the scene. StableUSD was founded by Stably, a blockchain startup.
The goal is simple: give tether (USDT) a run for their money. The blockchain startup announced that StableUSD (USDS) can now be purchased and redeemed. The tokens are backed by USD, which are held in escrow by Prime Trust. The Nevada-based trust company has also supported a number of stablecoin projects in the past.
So on paper, there is nothing really unique about this stablecoin.
A single blog post by Stably however, changes everything:
“Stably recognizes that a fiat-backed stablecoin requires a high standard of public transparency for consumers and businesses to build trust. Users of the platform will be able to view our fiat reserve’s balance in real-time via a life feed from Prime Trust’s API.”
With USDT facing heavy criticism towards their policies and their inability to pay people back in USD, this might be the perfect opportunity for USDS to make its debut. Much like USDT, USDS allows investors to efficiently trade cryptocurrencies by evading any delays caused by bank-to-exchange transfers.
Recently some other projects offer that same option: The Panox Standart (PAX), Winklevoss twins’ Gemini dollar (GUSD), TrustToken’s TrueUSD (TUSD) and others.
Stably will set new standards if successful
Users willing to gain access to Stably’s early-access program must apply and complete a know-your-customer (KYC) process. After its completion, users can freely begin to generate or redeem USDS.
The token generation happens through the use of smart contracts. Verified users will be able to transfer their funds to the trustee and Stably will send the transaction to its smart contract.
This will lead to the platform minting new USDS tokens, which are then send out the respective users.
This process is already available to registered users, but Stably has short-term plans to open up a website to further simplify the process. Additionally, the process will also work with BTC, ETH and USDT.
All the cryptocurrencies will be converted into USD by Stably’s regulated third-party trustee. The end result being a corresponding amount of StableUSD minted and sent back to the clients.
This project has been in the works for quite some time. Back in April, the project managed to raise $500 000 in seed funding. Kory Hong, the project’s co-founder mentioned that the economy desperately needs a solid price-stable medium of exchange as well as a store of value in order to progress.
If we take into consideration USDT’s recent struggles, she might have been right and Stably might have found the perfect time to make their move.
You can also check out:
Privacy Coins are the Way to Stay Hidden Against Government Tracking
Stable Price: The Dream of all Assets is One Innovation Away
Blockchain Innovations Against Fake News
Quick Money is About to Become Quicker: Trade Bots are the Future
The post Stably has a New Stablecoin with a Unique and Transparent Approach appeared first on CoinStaker | Bitcoin News.