Crypto Academy Week 7 - TASK @yohan2on. USDC

Pagina
USDC

When you hear about any stableCoin maybe at some point I heard about USD Coin this is a currency that is grabbing more and more strength and the reasons are not few.

This is a cryptocurrency linked to a fiat currency i.e. one unit of this currency is equivalent to $1 American. It was created by the Center consortium in conjunction with Coinbase last December 26, 2018. The difference between this coin and other stableCoin is that it fluctuates very little, but nevertheless works to always stay at the same price of the dollar. This is simply another alternative to other stableCoin such as trueUSD or tether.

One goal of creating this currency is to be able to create your asset by linking this cryptocurrency from the fiat US dollar and then it can be transacted in various parts of the world very easy simple through the various blockchain in operation, it is How to convert money controlled by my country only to money that I can send anywhere in the world in a matter of minutes. This same currency can be exchanged back to the US dollar through smart contracts to get the same dollar equivalents to this currency, the ERC-20. The creators of this digital currency are required to work in transparency and have full bank accounts to offer all their good work.

imagen
How to obtain them?

• Tokenization is the name given to the process of converting fiat currencies into this currency.

• The user sends the USD to the money exchanger account, this account receives the USD and generates a contract (ERC-20) which creates the tokens.

• this account receives the USD and generates a contract (ERC-20) which creates the tokens

• the tokens are sent to this person's wallet

To exchange it takes a third party as one simply makes an order to the contract issuer (ERC-20), he does all the exchange process while we receive our USD.

Currently, the speed with which transactions are finalized with this currency are as fast as immediately, since they use smart contracts based on ethereum, which are ERC-20.