Steemit Crypto Academy Week 6 - Stable Coins @yohan2on @eulalia1202

Stable currencies are virtual currencies with the value of an asset in the market so that it does not lose value due to devaluation, currently, there are many stable currencies whose main asset is the dollar, yuan, gold, silver, properties, and assets that want to be stably defined in the market. These types of currencies are not volatile like today's decentralized cryptocurrencies like Bitcoin. This gives the person reliability and carefree when it comes to having savings in this type of currencies. Today many of them are being observed as a form of payment in many cities of the world to pay for goods and services since they have the stable value of some predominant currencies of the world.

DAI founded in 2017 is a decentralized stable currency based on ethereum, it has been created as an ERC20 token whose value is anchored to the US dollar, currently there are more than 400 applications that have registered the DAI as a form of payment, defi platforms such as curve, instadapp, ren, uniswap, 1inch and online games and wallets for their great security, independence, reliability and speed to carry out their operations. Dai is not subject to a centralized network like many other stablecoins, as it is hosted on the ethereum blockchain network. Each token is backed by contracts that you can view publicly, to give customers confidence.

It is created under the maker protocol designed by makerdao, all DAI is backed and there will always be less DAI in circulation because most of it is in safekeeping as a form of savings account, a DAI token is created when a user deposits an asset to support each generated token . For this reason every DAI token is openly endorsed.

There are several applications today to mobilize your DAI tokens around the world, PEY.cash you pay a monthly rent for its use and all your transactions are free, this application works to pay in establishments just by scanning your QR code.

In many countries of the world with devaluation of their currencies and a hyperinflation that embraces them every day, the use of stable currencies is very important since they provide ease of use and management in the environment, you only need a wallet and the use of Internet.

As DAI is based on the ethereum protocol, you can trade it through any digital wallet, you must have a balance in maker protocol currencies, currently those that are accepted are Basic Attention Token (BAT), KNC, ZRX, MANA, ETHER, USDC, WBTC, TUSD and through various platforms of your choice such as binance, coinbase, kraken with great ease.