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Consensys: The State of Stablecoins, 2019 - With over 200 stablecoins to choose from, here’s all you need to know about one of the most active sectors in blockchain tech

Use Cases: Examples of applications in which volatility must be reduced: Remittance, to cover price deltas while payments are being processed Commerce & Payments, for any business to accept day-to-day payments, fiat or cryptos avoiding volatility Salaries & Rents or any other recurring payment Lending & Prediction markets (long-term issuances) Trading & Wealth management. In this case, stablecoins are needed because they:• Enable denomination of trading pairs in US dollars instead of bitcoin or ether• Enable exposure to fiat-rates (other than ETH or BTC)• Enable an easier visibility and adoption by simply showing fluctuations in fiats• Enable arbitrage opportunities Store of value, for long-term hedging: e.g. miners to cover recurring cost ensuring a stable income

In other words, anyone that wants to benefit from advantages of blockchain technology (transparency, security, immutability…) without losing guarantees (e.g. trust and stability) provided by fiat currencies needs a stable cryptocurrency.

Types of Stablecoins

Three main categories of stablecoins exist — all very well detailed in overviews previously mentioned, which we will use to categorize in the mapping to follow:

by Haseeb Qureshi, “Stablecoins: designing a price-stable cryptocurrency” Fiat-collateralized

IOU “Centralized” stablecoins / backed by fiat currencies or commodities collateral-backed. Examples of these include Tether, USD Coin, Gemini, and Digix.


IOU “Decentralized” stablecoins / backed by crypto and/or multiple assets, collateral-backed. Examples of this kind of stablecoin include MakerDAO, Steem, and Alchemint.


Seigniorage Shares / Decentralized Bank / Algorithmic stabilization mechanisms. Examples of this kind of stablecoin include Terra, Ampleforth, and Element Zero

The Most Popular Blockchain for Stablecoins:

Ethereum is the clear stablecoin leader with 33 stablecoins develope...

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