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How Do Stablecoins Work and Which Are The Top Stablecoins?

Written By Ivan on Tech

Aug 13, 2020

Stablecoins are price-stable cryptocurrencies that minimize overall volatility. The importance of stablecoins in crypto adoption simply can’t be underestimated. One of the most significant factors holding back the widespread adoption of cryptocurrencies has been its extreme volatility. Top stablecoins offer an alternative where people can dabble in cryptocurrencies without worrying about volatility. As you can imagine, stablecoins have found tremendous utility in modern cryptosystem.

So, before we delve into a list of stablecoins, let’s understand what are stablecoins and the importance of currency stability.

The Importance of Stable Currencies

As we have seen time and time again, currency stability is vital for the overall well-being of the economy. For example, Venezuela is a perfect instance of a country that went through financial turmoil over the last 40 years.

  • In 1983, Venezuela went through continuous and uninterrupted inflation.
  • Under Nicolas Maduro’s...
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