Stability, or lack thereof, has proven a significant hindrance to adoption. The three primary characteristicsof money are: a unit of account, store of value, and medium of exchange, but most cryptocurrencies only satisfy the latter due to aggressive volatility. This gap in the market has given rise to a surge in stablecoin projects – assets pegged to relatable currencies such as the US dollar. However, despite easily understandable assets and the boom in decentralized finance ($650 million USD locked in smart contracts, up from $400 million the same time last year), most people still don’t know what Tether is, let alone Dai. And that doesn’t begin to address the challenges people face when trying…
Source: Cryptocurrency - investing.com
