{"id":37043,"date":"2022-12-04T00:07:39","date_gmt":"2022-12-04T00:07:39","guid":{"rendered":"https:\/\/egrowonline.com\/?p=37043"},"modified":"2022-12-04T00:07:39","modified_gmt":"2022-12-04T00:07:39","slug":"cardano-founder-indicates-gold-standard-of-digital-age-and-it-is-not-ada","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=37043","title":{"rendered":"Cardano Founder Indicates &#8220;Gold Standard of Digital Age,&#8221; and It Is Not ADA"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div><a target=\"_blank\" class=\"article__lead-img--wrapper\" href=\"https:\/\/news.google.com\/vladislav-sopov\" rel=\"noopener\"><br \/>\n<img loading=\"lazy\" decoding=\"async\" width=\"224\" height=\"140\" alt=\"article image\" src=\"https:\/\/u.today\/sites\/default\/files\/2021-07\/8893.jpg\" class=\"author__item-user-avata\" \/><br \/>\n<\/a><\/p>\n<div class=\"article__lead-info\"><a target=\"_blank\" class=\"article__lead-name\" href=\"https:\/\/news.google.com\/vladislav-sopov\" rel=\"noopener\">Vladislav Sopov<\/a><\/p>\n<p>As Cardano (ADA) strengthens its position in stablecoin segment, Charles Hoskinson explains why algorithmic stablecoins matter<\/p>\n<\/div>\n<\/div>\n<div>\n<div class=\"article__contents\">\n<p>Contents<\/p>\n<ul class=\"article__contents-list\">\n<li class=\"article__contents-item\"><a target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h20\" rel=\"noopener\">Charles Hoskinson on algorithmic stablecoins: &#8220;Gold\u00a0standard of digital age&#8221;<\/a><\/li>\n<li class=\"article__contents-item\"><a target=\"_blank\" class=\"article__contents-link link-pseudo\" href=\"#h31\" rel=\"noopener\">Cardano (ADA) onboards various stablecoin designs<\/a><\/li>\n<\/ul>\n<\/div>\n<p>Charles Hoskinson, CEO and founder of Input Output Global (IOG), is excited by the concept of algorithmic stablecoins and is sure that it can undermine states&#8217;\u00a0monopoly on fiat money.<\/p>\n<h2 id=\"h20\">Charles Hoskinson on algorithmic stablecoins: &#8220;Gold\u00a0standard of digital age&#8221;<\/h2>\n<p>Hoskinson took to Twitter to share his views on algorithmically-backed stablecoins, i.e., cryptocurrencies that are pegged to fiat rates by smart contract-based technical designs.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">The concept of algorithmic stablecoins is how we get nation states off of fiat currencies. It&#8217;s the gold standard of the digital age. Use a deflationary cryptocurrency like bitcoin or ada to collateralize a stable coin that&#8217;s use as a national currency.<\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) <a target=\"_blank\" rel=\"nofollow noopener\" href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1598732224618237953?ref_src=twsrc%5Etfw\">December 2, 2022<\/a><\/p><\/blockquote>\n<p>Unlike traditional &#8220;centralized&#8221;\u00a0stablecoins, the balance between the collateral volume and the stablecoin supply is\u00a0not controlled by the issuer of the stablecoin. Instead, it depends on sophisticated on-chain instruments.<\/p>\n<p>It is the concept of an algorithmic stablecoin that can remove the control nation states have over the issuance and circulation of fiat currencies. The\u00a0adoption of this concept\u00a0looks inevitable to Hoskinson, as it is equal to a &#8220;gold\u00a0standard&#8221;\u00a0in the digital age.<\/p>\n<p>To create healthy collateral backing, IOG CEO recommends using Bitcoin (BTC) and Cardano (ADA) as they are deflationary. BTC and ADA liquidity pools will protect stablecoins from losing value.<\/p>\n<h2 id=\"h31\">Cardano (ADA) onboards various stablecoin designs<\/h2>\n<p>As such, overcollateralized stablecoins backed by Bitcoin (BTC) and Cardano (ADA) can replace national fiat currencies, Hoskinson foresees.<\/p>\n<p>While some of his followers appreciated the idea, sceptics recalled that the design of the collapsed TerraUSD (UST) stablecoin looked just the same.<\/p>\n<p>As covered by U.Today previously, Cardano&#8217;s overcollateralized stablecoin Djed will go live on the\u00a0mainnet in January\u00a02023. It will be equipped with\u00a0its own payment system Djed Pay.<\/p>\n<p>Another Cardano\u00a0team, EMURGO, has\u00a0<a target=\"_blank\" href=\"https:\/\/u.today\/cardano-ada-stablecoin-usda-to-be-launched-by-emurgos-anzens\" rel=\"noopener\">launched<\/a>\u00a0a centralized regulated stablecoin USDA in partnership with Anzens.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/news.google.com\/__i\/rss\/rd\/articles\/CBMiWGh0dHBzOi8vdS50b2RheS9jYXJkYW5vLWZvdW5kZXItaW5kaWNhdGVzLWdvbGQtc3RhbmRhcmQtb2YtZGlnaXRhbC1hZ2UtYW5kLWl0LWlzLW5vdC1hZGHSAVxodHRwczovL3UudG9kYXkvY2FyZGFuby1mb3VuZGVyLWluZGljYXRlcy1nb2xkLXN0YW5kYXJkLW9mLWRpZ2l0YWwtYWdlLWFuZC1pdC1pcy1ub3QtYWRhP2FtcA?oc=5\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vladislav Sopov As Cardano (ADA) strengthens its position in stablecoin segment, Charles Hoskinson explains why algorithmic stablecoins matter Contents Charles Hoskinson on algorithmic stablecoins: &#8220;Gold\u00a0standard of digital age&#8221; Cardano (ADA) onboards various stablecoin designs Charles Hoskinson, CEO and founder of Input Output Global (IOG), is excited by the concept of algorithmic stablecoins and is sure [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":37044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[44],"tags":[340,6341,266,271,441,113,1544],"class_list":["post-37043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ada","tag-ada","tag-age","tag-cardano","tag-digital","tag-founder","tag-gold","tag-standard"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/12\/26703.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37043"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37043\/revisions"}],"predecessor-version":[{"id":37045,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/37043\/revisions\/37045"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/37044"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37043"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}