Crypto Academy Week 7 Homework Task Article for Professor @yohan2on | Topic: Stable Coins Part 2 | Paxos Standard (PAX)

A Blessed Day Crypto Students and Professors!!!

The 7th week of the Steemit Crypto Academy has been started and in article I'll be sharing the Homework tasks given by Prof. @yohan2on which is all about the continuation of his topic last week about Stable Coin. His homework tasks will be as follows:


Homework task:
Write about any one of the following Stable coins

USD Coin (USDC)
TrueUSD (TUSD)
Paxos Standard (PAX)
Digix (DGX)


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From the Stable Coins given, I've choose the Paxos Standard (PAX) in which I will be discussing some important information of this Stable Coin but before we go further let us briefly discuss first what is Stabel Coin.

Stable Coin are cryptocurrencies who pegged to be like the price of a US Dollar which it means that it's price will not go up or go down too much from the US Dollar price and that make it very unique.

Paxos Standard (PAX)

images (2)~2.png
Paxos Standard (PAX)

Paxos Standard (PAX) is said to be the New Digital Dollar which issued by its company the Paxos Trust Company. One goal of this cryptocurrency is to make money move fast with its characteristics of being a Stable Coin asset. It uses a Ethereum based protocol in their ecosystem which means it is a ERC20 based tokens. Since it is a ERC20 based asset, all Crypto Wallet platforms that implies a ERC20 based assets will also supports this stable coin cryptocurrency like MetaMask, MyEtherWallet, Trust Wallet and etc. It is also available for trading in almost all of the leading Cryptocurrency Exchanges all over the world with the leading pairs of Bitcoin, Ethereum and other trading pairs.

The main use case of Paxos Standard (PAX) are the following.

  • to limit exposure to crypto-asset volatility
  • to remove cross-border transaction fees
  • to move between crypto-assets with ease or as payment for other blockchain-based assets source

For future use cases, Paxos Standard (PAX) will be:

  • consumer payments
  • offering a stable store and etc. source

Paxos Standard (PAX) CoinMarketCap Statistics
Here we can see some of the Paxos Standard PAX price statistics that we might have to study.

PAX Price StatisticsDetails
Current Price~$1
24h Low / 24h High$0.9975/$1.00
Trading Volume$47,156,588.53 24h
Volume / Market Cap0.06143
Market Rank#91
Market Cap$767,675,199.46
All Time High$1.10
All Time Low$0.8728
Circulating Supply768,436,085 PAX
Total Supply768,436,085 PAX
Max SupplyNo Data

CoinMarketCap PAX Price Statistics


Paxos Standard (PAX) Products and Services (source)

1. Paxos Crypto Brokerage - This product is will let each clients to have an easy and trusted ways to add crypto features in their own platform. Sample are payment method and other transactions.
2. Stablecoin as a Service - This service of PAX is the characteristics of this crypto to stable in price which will power your global business and establish your market leadership.
3. PAX Gold (PAXG) - Is also a digital asset, a product of Paxos Standard (PAX) which each user will also hold a one fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar, stored in Brink’s vaults.
4. itBit by Paxos - The built-in cryptocurrency exchange of Paxos Standard (PAX) who has the following abilities:

  • Advanced Supervision
  • Deep Liquidity
  • Institutional Grade
  • Maker Rebates & Low Fees

Conclusion

Another stable coin for this week that we might also look at. As I read some information about Paxos Standard (PAX), what I really like about their products and services is their goal to make money move fast as it is also a Stable coin which I think a good idea. Hopefully, all their products and services will work good and be better in the future. As I always said, we must read and study all the platforms we might go with before taking any action.

This would be my homework task article to Prof. @yohan2on this 7th Week of the Academy and hopefully, everything is fine and be accepted. I've appreciate all the efforts and information I've got from the lesson and I'm looking forward to the next lesson next week.

Thank you also to all the Steem Team who initiated this new project, to @steemitblog, @steemcurator01, @steemcurator02 and to all curators who supported this project.

That would be all, thank you and God Bless!!!


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Your Crypto Steemit Academy Student;

@loloy2020

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Hi @loloy2020

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 Paxos Standard.

Homework task
7

Thank You for the advice.

buti kau marami nalalaman about sa ibat ibang crypto

Grabe gyud Mel. Dugo ako brain. Pero thank u for this.

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