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Is there a POS stablecoin blockchain with smart contracts in the works? Why couldn't it be done? Because founders wouldn't be able to hold 80% of coins so they
by purple_ferret 5y ago
Is there a POS stablecoin blockchain with smart contracts in the works? Why couldn't it be done? Because founders wouldn't be able to hold 80% of coins so they can cash out like Vitalik, CZ, or Justin Sun?
- EVa5I7bHFq9mnYK 5y agoBecause every stablecoin is by definition centralized. It has an underlying bank account, which could at any moment be freezed or seized, all coins confiscated and all smart contracts voided (or some specific contracts voided). Not so with decentralized blockchains based on proof of work.
- rodiger 5y agoMost, not all. E.g. DAI [0] [0] https://makerdao.com/en/whitepaper#abstract https://makerdao.com/en/whitepaper#abstract
- noxer 5y agoWe can make trust-less stablecoins backed by crypto but we cant run a blockchain on a stablecoin. Its only stable if its backed or pegged to something and that we dont know how to do decentral.