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😎 Cardano To Roll Out Its First Stablecoin

The Djed stablecoin to be launched in partnership with the payment gateway COTI.

Hey Blockster, Cardano (ADA), the third-largest cryptocurrency by market capitalization and a competitor to Ethereum's smart contract blockchain, is soon launching its first stablecoin. According to a joint announcement by the two projects during Sunday's Cardano Summit, Cardano has partnered with the payment gateway service provider COTI to roll out Djed in the near future, which will utilize an algorithmic design and smart contracts to achieve price stability. In other terms, this means that there is no need for the project to hold physical fiat currency reserves (like in the case of USDT or USDC) as algorithms will be in charge of maintaining Djed's value peg. What's special about Djed is that users will be able to utilize the stablecoin to cover transaction fees – as opposed to the Ethereum network where the same can only be done via ETH –, which is expected to make transfer fees more straightforward. Most importantly, this move paves the way for Cardano to enter the decentralized finance (DeFi) industry, which has been highly competitive in the last few months. To learn the details of the story, we recommend checking out this Blockdesk article. Forgot to check cryptocurrency news outlets since Friday? No worries; we have you covered. Check below to find the best crypto stories of this weekend: BitConnect and the Exit Scam That Still Shocks Crypto Investors Today – When BitConnect is mentioned in the crypto industry, the first thing that comes to the minds of most blockchain hustlers is the rather bizarre and cringey on-stage performance of the project's team that has been serving as the primary source for memes. However, the real story behind BitConnect is a dark one that still shocks investors today. 3 Stablecoins That Are Looking to Dethrone Tether (USDT) – Tether (USDT) has dominated the stablecoin market for a long time. However, due to the innovative features of competitors and the project's previous scandals, alternative solutions are gaining traction. Paying Rent by Cryptocurrency – Could This Become Normal? – Cryptocurrencies are increasingly adopted by both retail and institutional investors. However, apart from generating profits, digital assets are also utilized for everyday payments, with a future use-case including settling transactions between landlords and renters. NU – A Complete Guide to NuCypher – Nowadays, it's nearly impossible to preserve your privacy on the web. For that reason, while crypto is not fully anonymous by nature, projects leveraging encryption-based solutions have gained quite some traction lately. NuCypher is among them, which we will take a look at in this article. That's all the stories we have for you today. Be sure to check your inbox tomorrow, as we will come back with a new collection. See you then! Cheers, The Blockster Team © 2021 Blockster. All rights reserved This message was sent to lelakikelasmenengah@gmail.com by info@blockster.com Queensway, Midtown, Giblartar GX11 1AA, Gibraltar Unsubscribe | Manage Subscription | Forward Email

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