Abstract:
Stablecoins is a kind of digital currency with relatively stable price. It guarantees that the price fluctuates slightly in the price of its counterpart legal currency through some model designs. The rapid development of the cryptocurrency market and the large fluctuation of their prices have jointly produced stablecoins. In 2014, the first stablecoins——USDT came out. At present, there are more than 20 stablecoins in the market, accounting for 2.5% of the total cryptocurrency market value. This report describes the main types of stablecoins, and illustrates their issuance mechanism, operation process, price stabilization mechanism, market value and trading volume. Finally, we give classical application scenarios of stablecoins.
