- ژوئن 10, 2021
- ارسال شده توسط: ارز دیجیتال
- دسته بندی: ارز دیجیتال
USD Digital Currency
The USD digital currency is a stable coin based on the US dollar.
USD Digital Currency is a 1: 1 Stable Coin with US Dollar support provided by Bainance (in partnership with Paxos) and approved by the New York State Financial Institution (NYDFS). In this article , we will introduce the USD digital currency based on the information on the digital currency reference website Coinmarketcap.com.
The BUSD monthly audit report can be found on its official website.
The StableCoin was launched on September 5, 2019 and aims to combine the stability of the US dollar with China’s blockchain technology. Also read fl studio free crack. It is a Fiat digital currency offered as an ERC-20 token and supports BEP-2.
This digital currency is managed by Circle and Coinbase. In this article, we will introduce the USD digital currency and describe its features. The US digital currency is priced at $ 1 and has dollar backs; That means one dollar is saved in a specific bank account for each USD Coin digital currency token.
Cannot be produced without a schedule. Circle guarantees that each USDC token is supported with one US dollar. The process of converting US dollars to USDC tokens is known as tokenization.
Converting dollars to USD digital currency is a three-step process:
- The user sends dollars to the bank account of the token issuer.
- The exporter uses the USDC smart contract to generate the equivalent of USDC.
- The newly generated USDC is delivered to the user, while the replaced dollars are kept in reserve.
Delivering USDC instead of dollars is easy to make a token, just reverse the process:
- The user sends a request to the USDC issuer to repay the USD equivalent for USDC tokens.
- The exporter sends a request to the USDC Smart Contract to exchange the tokens for dollars and withdraw the equivalent amount from circulation. Also read xtreme rat download.
- The issuer sends the requested amount of dollars from its reserves to the user’s bank account. The user receives the equivalent net amount in USDC tokens, less all costs incurred.
Unlike Tether, the most popular stable, USD Coin makers are required to provide full transparency and work with a wide range of financial institutions to maintain full reserves of Fiat currency equivalent.
All USDC exporters are required to report their dollar sources on a regular basis, which is later published by Grant Thornton LLP.
How to use USD Coin
Each USD Coin represents one US dollar in the Atrium China block. This is an ERC-20 standard token and can be used with any program that supports this standard.
To make a purchase or purchase USDC with Circle, you must create an account, verify your identity, and connect to a valid bank account. The Circle Dollar Platform allows users to perform four main actions:
- Buy USDC
- Transfer USDC to ERC-20 compliant Atrium addresses
- USDC withdrawals from Atrium wallet addresses
Circle for USDC does not charge any fees for tokens and purchases of services from users, unless there is a $ 50 commission for incorrect and rejected bank transfers. For USDC operations in Queen Base, all fees apply as standard. Also read all in one checker.
In general, stable coins, which are similar to the USD digital currency, make it easier to buy payment code currency. By using stable coins, the role of traditional tools and institutions in the market is reduced and inflation is prevented from increasing.
Using USD digital currency , all transfers can be done instantly, securely and at the lowest cost. Through USB Quinn, it is possible to buy various apps and games based on blockchain.
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