USDX Protocol Revolutionizes Third-Generation Cryptocurrencies, and in the Process, Reinforces the “Stable” in Stablecoin
USDX Protocol, the emerging global leader in decentralized blockchain ecosystem solutions, is rolling out the third generation of Stablecoin and, in the process, is revolutionizing the cryptocurrency landscape.
March 13, 2018 / / —
LONDON/LISBON, 13 March 2018 – USDX Protocol, the emerging global leader in decentralized blockchain ecosystem solutions, is rolling out the third generation of Stablecoin and, in the process, is revolutionizing the cryptocurrency landscape.
USDX Protocol’s third generation Stablecoin concept addresses a critical issue facing cryptocurrency traders and investors – price fluctuations have severely limited the widespread use of cryptocurrencies across global markets.
More specifically, the rapid rise of cryptocurrencies and their promising future has attracted great attention from speculators. However, since most cryptocurrencies are deflation assets, they cannot be used as medium of exchange by the public.
USDX Protocol solves that dilemma by creating a third generation Stablecoin that’s based on an elastic monetary policy.
“Our ’algorithmic central bank’ cryptocurrency ecosystem automatically adjusts the total quantity and velocity of Stablecoin to achieve a stable exchange rate,” says Dennis Lee, co-founder at USDX Protocol. “With third-generation Stablecoin, the implementation of elastic monetary policy is strictly data dependent and will not subject Stablecoin traders and investors to the governance of any centralized party.”
A Substantial Upgrade
USDX Protocol’s third generation Stablecoin ecosystem is a substantial upgrade over second generation Stablecoin, and is breaking the mold with a decentralized cryptocurrency market model.
Essentially, USDX Protocol is proposing an alternative to unworkable and untrustworthy earlier Stablecoin systems by using complex algorithms to expand and contract the supply to better suit the marketplace.
“While Tether and USDX Protocol both strive to create a stable priced coin, that’s where the similarities between USDX Protocol and Tether end,” Lee says. “Tether operates on a 1:1 fiat to USDT backed system, where each USDT minted requires the exact amount of USD to be held in a bank, making the Tether approach an inherently centralized system.”
Key USDX Stablecoin Features
USDX Protocol separates itself from the first two generations of Stablecoin via cutting-edge technology and robust algorithmic logics derived from sound and reliable economic principles.
Specifically, USDX Protocol possesses the following 4 unique features:
USDX Protocol is a public blockchain based on ’Proof of Stake’ with high transaction speeds.
USDX Protocol is compatible with existing blockchain infrastructures, such as cryptocurrency exchanges, wallets, and miners.
USDX Protocol has a sophisticated and systematic adjustment mechanism that can efficiently regulate price fluctuations.
USDX Protocol’s infrastructure was built with a goal in mind to serve as the center of the next generation blockchain-based financial system. The company intends to erect a crypto-based financial system together with third-party developers.
“USDX Protocol is fully committed to developing the third generation Stablecoin ecosystem, to make the blockchain economy simpler and more convenient and to become the backbone infrastructure of the future blockchain economy,” Lee says.
Further information: To learn more about USDX Protocol and its breakthrough third generation Stablecoin ecosystem, click here for a white paper on the topic.
Or, to arrange an interview with USDX Protocol, please contact EAK Digital’s media relations team.
Release ID: 313586