Not only does Circle have the support of Goldman Sachs, but it also acquired the large cryptocurrency exchange Poloniex (Pnet) earlier this year. In addition, Circle has just completed a $110 million financing led by Bitmain and will develop aThe safest way to buy Bitcoin U.S. dollar token USDCoin to replace Tether. Circle CEO Jeremy Allaire said,
For code targeting EVM, efficient execution of smart contracts is very necessary, because in specific use cases such as small transactions, inefficient code will become very expensive. In this case, Vyper looks very logically like Solidity and syntactically similar to Python, rather than many object-oriented programming paradigms.
Token is a piece of computer code in its existing form, without any intrinsic value. So, what is the source of value of Token? Token is generally translated into a token or a sign in Chinese. The mark or representation has no value in itself, and the value comes from the assets carried. Using Token to carry real-world assets (so-called assets on the chain) is essentially based on laws and regulations, using economic mechanisms outside the blockchain to link Token to the value of a certain type of underlying asset. This process is inseparable from a centralized trusted institution (table.
So far, another interesting stable currency with a fairly consistent price is the digital currency Dai, which is the token that made MakerDao create. MakerDao is a protocol built on the Ethereum network. In essence, it uses the USD exchange rate when automatically locking tokens. Essentially, users store blockchain-based assets as collateral to create a stable Dai token. Since the Dai token first appeared in the Coinmarketcap (CMC) historical index on December 27, 2017, the price of each token has been stable between US$0.99 and US$1.02. Dai tokens are not as popular as Tether (USDT), and the platform is relatively new. However, MakerDao and Dai tokens are regularly traded on decentralized exchanges (DEX) and other token trading platforms such as Bancor, RadarRelay and Ethfinex. These exchanges and ordinary traders are using Dai for lending and leverage operations, because the price of this currency has always been maintained at the level of $1.
DRW Holdings LLC is a Chicago-based company. Bobby Cho, the global trading director of Cumberland's cryptocurrency trading unit, told Bloomberg that the era of cryptocurrency is indeed changing, and this situation shows that this field is fully professionalizing. Cho said:
In addition, the US cryptocurrency investment agency Grayscale's investment report for the first quarter of this year showed that the amount of funds raised in the first quarter reached US$33.7 billion, which was nearly double the level of last year's peak in the third quarter, setting a record high. Moreover, the quarterly report pointed out that the inflow of funds mainly came from institutions, indicating that the interest of institutional investors in the field of digital assets is rising rapidly. Square’s latest financial report released earlier shows that CashApp’s Bitcoin revenue in the first quarter of 2020 reached US$0.6 billion, gross profit increased by about 90% from the previous quarter to US$7 million, and sales increased by 72% from the pThe safest way to buy Bitcoinrevious month, up 367% from the same period last year, a historic record. new highs.
The report shows that as of January 4, 2018, Tether has issued a total of 91 additional USDT (transferred to Bitfinex's wallet address). The report raised an audit question: whether Tether transferred USDT to Bitfinex's wallet without receiving U.S. dollars, and used USDT to purchase low-priced bitcoins for profit or trading. It also rejected the hypothesis that there is no correlation between the additional issuance of USDT and the rise of Bitcoin, and believes that the additional issuance of USDT should be responsible for 40% of this round of Bitcoin's rise.