A brief to stable coin development

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As the name suggests, a stablecoin has a stable value that doesn’t fluctuate. It’s not that it has zero volatility, but it is as stable as fiat currencies or other assets like gold or precious metals.

Stable coins aim to bridge the gap between cryptocurrencies’ benefits and the stable nature offered by fiat currencies. It is a crypto token with a value pegged to the price of a national currency to combat its volatility.



Now, the question is, why do we need a stable coin.

Though cryptocurrencies are global currencies, coins like Bitcoin and Ether are volatile. The price of Bitcoin raised from $1000 to $20000 during 2017. Since it is not sustainable, users and investors require more stability in the market.

Imagine that you pay $30 for dinner today and the same amount would be worth $40 tomorrow because the value of that crypto token went up. Small investors cannot handle that kind of volatility. Therefore, stable coins smart contract to drive the new way of adoption of cryptocurrencies.

Know More- https://www.leewayhertz.com/stablecoin-guide/

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