Topic: Question of the day 5/16 (Read 109 times)
I think that i will prefer to pick the scalable blockchain to be the main chain used to created my own stable token. The main concern should be on the security, scalability and stable token mechanism. This will determine whether my stable asset can peg to make the price stable or not. We have learned a lot from what happened with luna. it seems people have not yet aware if stable token can't use volatile assets
If I were to start my own Stable coin I would choose Cosmos network. Cosmos Usecase is very high and many top projects are using this network but still have not any Stable coin. I think it would be safest Network because of large number of projects and big amount already Staked.
It would be backed by USD
If I were to start my own Stable coin I would choose Cosmos network. Cosmos Usecase is very high and many top projects are using this network but still have not any Stable coin. I think it would be safest Network because of large number of projects and big amount already Staked.
thank you guys who responded above but I guess what I’m trying to figure out is we have an opportunity to develop a token for a community, it wouldn’t be something that the masses could use it’s only segregated for this one community in this country so being that it is only designated for this small population would a stable coin make more sense over a coin? The only reason why we’re thinking a stable coin is because we cannot have the volatility that normal cryptocurrency carries. On the other hand this stable coin if we go that route it’s not something the average person will have access to purchase you have to live in this community in order to buy it. Now because it’s very limited as far as who can get this token it doesn’t make sense to list it on an exchange as it would be a private community token correct?
Then why not just stay with digital money? Local bank money with application. If you will not open it in the world, there might be an economic breakdown in your place. This is like playing house or a board game like monopoly or chips from a gambling den. So what if you go places and you only have your QR code in you? How are you going to spend it? It is unknown to the world.What will the stablecoin you are trying to make be backed with to have value?
thank you guys who responded above but I guess what I’m trying to figure out is we have an opportunity to develop a token for a community, it wouldn’t be something that the masses could use it’s only segregated for this one community in this country so being that it is only designated for this small population would a stable coin make more sense over a coin? The only reason why we’re thinking a stable coin is because we cannot have the volatility that normal cryptocurrency carries. On the other hand this stable coin if we go that route it’s not something the average person will have access to purchase you have to live in this community in order to buy it. Now because it’s very limited as far as who can get this token it doesn’t make sense to list it on an exchange as it would be a private community token correct?
I will be using ethereum or another first layer blockchain that fully decentralized. yeah solana was getting shutdown so many times, luna dumped so hard and it's ecosystem may be dead soon. That's why i will always try to pick scalable and most decentralized blockchain. The scalable blockchain will be used as a way to avoid the huge fees but the decentralized blockchain will become the main house to hodl the majority of stable tokens. I will not try to risky by using the bad reputation blockchain like solana and luna ecosystem.
both were horrible blockchains at this moment. The main concern must be decentralized and scalability
both were horrible blockchains at this moment. The main concern must be decentralized and scalability
If you we’re starting your own stablecoin, what platform would you use and why?
IMO, I would probably choose the Stellar Network, because I believe that Stellar Network has a lot of unused potential. It sounds crazy, but I don't see any Stablecoin that has been running using the Stellar Blockchain! On the other aspect, the transaction fees and the transaction speed are also important factors and the Stellar Network is undeniably one of the cheapest and fastest in the industry that's why for me it was attractive.
The most important part of any cryptocurrency, in my opinion, is its ability to be stable. Many companies decide to go with a Fiat-backed system and it might even work for a while. If your goal is to have a currency that can be used as a store of value, the coins mentioned by the RussianEnglishTranslation brothers could be an option.
I would use a platform that currently has no native stablecoin, like the internet computer ICP. Also, the token should be collateralized.
If you we’re starting your own stablecoin, what platform would you use and why?
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