As of right now, most people know about Tether’s USDT, which is pegged to the US dollar at a 1:1 ratio. This currency has been rather controversial, but it is still around and in high demand as of right now.
It was only a matter of time until we saw more of these stablecoins. Not long ago, we saw TrueUSD make its way onto the Bittrex exchange. TrueUSD is another stablecoin pegged to the US dollar, although it remains to be seen if and how it can compete with Tether in this regard. Rest assured there will be some interesting competition between these two assets.
Things will only get more interesting from here on out, as we now have another project trying to achieve a similar goal. Known as USDX, this new protocol uses an algorithm to apply monetary policy combined with established crypto frameworks to maintain a stable price.
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