Joe Lubin of ConsenSys and Ethereum expects other Stablecoins to surpass Tether


Joe Lubin, the co-founder of Ethereum and the founder of software blockchain software company ConsenSys, believes that the controversial stable Tether will eventually be replaced by a more stable token price tag. He calls the Out and Circle & # 39; s Center of MakerDAO as two strong contenders that could stabilize the cryptocurrency ecosystem.

The MakerDAO stabilizer, Dai, is designed to bring stability to markets by overcoming price volatility through a feedback mechanism that encourages owners to stabilize the value. It is backed by the US dollar and works with the Ethereum blockchain.

In an interview with Yahoo Finance, which is constantly increasing coverage and exposure to cryptocurrency, Lubin explained his position on Tether, the controversial stablecoin that may or may not be behind price manipulation of Bitcoin and Altcoin:

"So Tether is an interesting project, it is one of the first stable tokens to track the US dollar, based on our analysis, which consists of talking to a group of people in space, we believe that Tethers are supported 1: 1 by US dollars in bank accounts, but it's still not 100% solid in terms of history, from my point of view.

I expect many more token to be born at the price and take its The Ida of MakerDAO is doing amazingly well.It's a mechanism that keeps price stability.The stable token at the price of Circle Center, I think, will be a really deep project that will be a more decent version

And as far as market manipulation is concerned, I am not sure that market manipulations are directly tied to the Tether, if they exist. It was an unregulated market, a series of exchanges that allow big players to do what they want to do. We do not really trade, we only build software. But ideally we will get a little more regulation of centralized exchanges, at least, and we will see less oscillating in price. "

Join us on Telegram

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice Investors should do their due diligence before making high-risk investments in Bitcoin or cryptocurrency. and exchanges are at your own risk, and any losses you may incur are your responsibility, please note that The Daily Hodl participates in affiliate marketing.

Check out the latest news

Source link