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How are non-crypto assets represented in crypto space? It seems you would need a trusted party/oracle of some kind, which creates the same problem as centraliz
by riffraff 5y ago
How are non-crypto assets represented in crypto space?
It seems you would need a trusted party/oracle of some kind, which creates the same problem as centralized stablecoins anew.
Edit: indeed a sibling comment mentions they have USDC as a backing support which means they are as stable as that.
- whimsicalism 5y ago> It seems you would need a trusted party/oracle of some kind, which creates the same problem as centralized stablecoins anew. If it is multicollateral, then yes, it somewhat involves trust, but you are dependent on a lot of various people betraying trusts along with ethereum price dipping, whereas a traditional stablecoin is entirely dependent on one entity.