Steemitcryptoacademy || my week-7 home work submission post for @yohan2on.
Homework task: Write about any one of the following Stable coins
USD Coin (USDC) ✔
TrueUSD (TUSD)
Paxos Standard (PAX)
Digix (DGX)
I will be writing on USD Coin (USDC)
Lets refresh our our with this question A stable Coin is a Cryptocurrency coin that is pegged on the ratio 1:1 with the United States Dollar (USD). This also means that if the value of $1 is 480 Naira, the of a stable coin would also be 480Naira in Nigeria. USDC is a digital stable coin that is pegged to the United States Dollar and runs on the Ethereum Blockchain. Each USDC is backed by a Dollar held in reserve. According to Wikipedia, USDC was first announced 15 May 2018 by Circle and launched in September 2018. As of March 2021, $10 billion USDC were in circulation. From further research, I realized that USDC policies which include both its financial and technical standards are managed by a combination of investors whose sole purpose was to engage in a joint venture and these investors go be the name CENTRE. CENTRE was initially brought to existence by a peers-to-peer (P2P) company called Circle and Coinbase. This is the end of my week 7 home work. I really appreciate you all for going through my article, reviews, critics, suggestions and corrections are welcomed. Thanks! Cc: @yohan2on
Source:google.com
WHAT IS A STABLE COIN?
Now the question of the dayWHAT IS USD Coin (USDC)?
Source:coindesk.com
Source:coindesk.com
IMPORTANCE OF USDC
HOW TO BUY USDC
Hi @ochang
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. Glad that you referenced the borrowed content. Well done with your research on USDC
Homework task
7
Thank you sir