The Dai Stablecoin: The First Cryptocurrency Backed by Another Cryptocurrency (Ethereum)

The Dai Stablecoin: The First Cryptocurrency Backed by Another Cryptocurrency (Ethereum) – AllStocks Network

Stablecoins, like Tether (USDT) or Facebook’s Libra, are a new sort of cryptocurrencies that differ from the rest by avoiding fluctuating prices which make even the popular cryptocurrencies, such as Bitcoin(BTC) trade, difficult for trade. Their value is based on stable underlying resources. Some are backed by dollars, and some by gold.