Charles Hoskinson intends to “hit everyone” with the stablecoin provided by Cardano



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Charles Hoskinson intends to “hit everyone” with the stablecoin provided by Cardano

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Founder of Cardano: the underlying idea of ​​bitcoin failed

The founder of the Cardano blockchain project, Charles Hoskinson, was considering releasing a stablecoin similar to DAI, provided by ADA cryptocurrency. The plans became known to the rating agency Weiss.

We hear that @IOHK_Charles wants to build a version of DAI on Cardano. So far, #DAI is the only trustless #stablecoin in #crypto world, but there should be more. Stablecoins like DAI have no central point of failure, which is a BIG advantage over the likes of #USDT or #USDC.

Weiss believes the new coin is promising, because it will expand the list of stablecoins, eliminating the need to trust centralized organizations and worry about external audits:

“Stablecoins like DAI do not have a central point of failure and therefore have a big advantage over USDT and USDC.”

Hoskinson himself in response to Weiss said that if successful, his new project “will hit everyone.”

If we do this, then it will blow everyone out of the water. I started in this space with stablecoins and we’ve been thinking about them for seven years

“I started with stablecoins and have been thinking about this topic for 7 years,” he explained, adding that using the new coin “in the central bank mechanism” will increase the demand for ADA cryptocurrency.

Earlier, Hoskinson announced plans to hold Cardano hard fork in mid-February.

Charles Hoskinson intends to “hit everyone” with the stablecoin provided by Cardano



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