What is a Pegged Cryptocurrency?

in cryptocurrency •  7 years ago 

Cryptocurrency enthusiasts are always at the mercy of price volatility. This is especially true for altcoins right now, although Bitcoin is also going through some violent swings of its own. Some projects have even tried to create a pegged cryptocurrency, although efforts have been mostly unsuccessful as well. There is a good reason as to why that is, though.

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Maybe one day the government will just legalize all this stuff. Think prohibition. Where did that get them?