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ARTICLE · 30 MARCH 2021

Introduction To Stablecoin – The Stable Cryptoasset

AELEX
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Cryptocurrency has been the subject of many discussions and is presently taking the world by storm.

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Cryptocurrency has been the subject of many discussions and is presently taking the world by storm. It is a digital or virtual currency designed to operate as a medium of exchange. It is secured by cryptography1, which makes it nearly impossible to counterfeit or double-spend. It is built on the blockchain, a decentralised technology spread across many computers that manages and records transactions.

Peculiar traits about cryptocurrency includes the fact that it is virtual and is not issued by a central authority or central banking system. It is therefore not subjected to government interference as it typical with fiat currency.

The first cryptocurrency, Bitcoin, was designed by the mysterious Satoshi Nakamoto in January 2009. It is built on a cryptography-based blockchain network that supports a peer-to-peer electronic payments system. As with other types of cryptocurrency, it is not under the control of any person, company or government and is run on a

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