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An Overview Of The Stablecoin Market

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In this excerpt from Bitcoin Magazine Pro, we are going to take a extra in-depth take a look at the redemption mechanism of USDT, and canopy why the issues concerning the stablecoin and the obvious dangers it presents to the bitcoin/cryptocurrency ecosystem.

Before digging in, it needs to be stated that the appearance of bitcoin on a protracted sufficient timeframe obfuscates the necessity for a “stablecoin,” which is actually only a blockchain-based IOU held by a counterparty. A digital bearer asset that is fully secure on the protocol stage and from an issuance and absolute provide perspective that may be held with no counterparty threat is the innovation. With that being stated, the pure demand for {dollars} within the “crypto-economy” does make sense given the greenback’s incumbent standing because the world reserve foreign money.

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