TRUEUSD(TUSD) Homework of Week 7 | Stable Coins 2nd part by prof @yohan2on


STABLE COINS

One of the most common criticisms leveled at crypto currencies is that they are extremely volatile. When fiat analysts point out the wild price movements of crypto, they blow their horns, but stable coins debunk this narrative because their entire modus operandi is stability.

Stable Coins are cryptocurrencies that are linked to or pegged to a real-world asset, most commonly a fiat currency such as the US dollar, the British Pound, or the Japanese Yen, but they can also be linked to other assets such as gold or oil. Stable Coins provide consistent value and stability in a market that is prone to extreme swings from day to day.

The Image above is from Everepedia


What Exactly is TRUEUSD?

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The Image above is from trusttoken

What is True USD, exactly? True USD is a digital currency created by trust token, a company founded in 2017 with the goal of creating a digital currency that combines the benefits of a blockchain-enabled asset with complete protection against volatility and fraud.

True USD is a fiat collateralized cryptocurrency that is backed one to one by US dollars that are held in reserves and can be redeemed at any time. True USD is a cryptocurrency that is issued on the Ethereum blockchain. True USD is a stablecoin pegged to the US dollar that provides users with regular escrow balance attestations, full collateral, and legal protection against the misappropriation of the underlying US dollar.

Block Card supports True USD, allowing you to fund your account and make purchases anywhere Visa is accepted. You can sign up for a Block Card account for free at getblockcard.com.


😁 Pluses:

✔ Trust token has paired up with certified trustees and banks who hold the assets that back the true US dollar tokens.
✔ True USD is a very reliable and stable currency. TrueUSD's escrow accounts are legally protected, so when the escrow bank sends us money through this exchange, the True USD system doesn't touch it. As a result, we can easily and safely trade, buy, sell, and withdraw funds.
✔ Powered by Ethereum, the world's second-most secure blockchain.
✔ The USD funds are regularly verified through scheduled certifications and held in third-party escrow accounts, preventing trust token from having direct access to the funds.


😥 Minuses:

✘ As a stable coin backed by fiat, in a world where fiat currencies are volatile due to economic crises, political issues, and a variety of other factors.
✘ Because it is centralized, you must put your faith in the trust token team.
✘ For purchase or redemption, TrueUSD requires both AML and KYC.


😎 UNIQUENESS

🚀 TrueUSD has a couple of cool features that will appeal to users interested in stable coins. The first is its one-click Redemption feature, which allows users to exchange their TrueUSD for fiat with a single click. It doesn't get any easier than that.
🚀 The second point to mention is the coin's fiat support, which includes not only TrueUSD but also TrueGBP. TrueCAD, TrueHKD, and TrueAUD.  It's also an erc20 token, so sending and storing it is a breeze.


Trust Token website walkthrough... All images down below are from this site https://www.trusttoken.com/

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CONCLUSION

First of all thanks to my brother @julstamban who got me back again here on steemit after three long years as he said that there's a really awesome community that is trending now here on steemit. Where we can learn a higher understanding of cryptocurrencies which is guided by community professors which is pretty cool in my own opinion. Thanks to prof @yohan2on for his excellent lecture. Stable coins is such a big factor and player in today's market where you can really put your earnings for the meantime while the market is shaky.


Comments 5


Hi

Thanks for attending the 7th -Crypto course on stable coins and for your effort in doing the given homework task.

Feedback

This is good work. Well done with your research on TUSD

Homework task
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29.03.2021 03:24
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Thank you very much professor @yohan2on, thanks for rating my homework

29.03.2021 05:02
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Thanks again prof I wonder when can I get an upvote sir?

03.04.2021 00:41
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hi sir @yohan2on sorry for bothering you but will my post get an upvote?

03.04.2021 05:22
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Sorry to tag you again professor @yohan2on and @steemcurator02, my article doesn't have an upvote yet :( thanks!

03.04.2021 14:16
0