Crypto Academy Week 7
Homework Post for [@Yohan2on] TRUEUSD
It is a stable coin that comes to stand up to Tether since, unlike it, trueusd if it is backed with real dollars, in real bank accounts and with a signature that endorses it, so every coin that we buy from trueusd is backed by the same amount in dollars, this is something new since the constant criticism about tether and its lack of liquidity on occasions has given a gap to malicious comments about this cryptocurrency which makes it lose prestige and reputation in the cryptographic world, all this It is beneficial for investors since this particular currency has guarantee firms in several banking institutions that verify and safeguard each currency and the platform is not in power to issue new currencies without first not being backed in said banks, in fact it has been published in various media that the content of bank accounts is updated daily and they are subjected to audits to avoid any r error and thus ensure the proper performance of their duties.
Como se usa TRUEUSD
How to use TRUEUSD
Its use is not different from any other currency, you can buy tokes with real money by making a transfer to the exchange that supports the currency or simply, changing your cryptocurrencies for the touch in question, already having a few tokes to test it, you would only need to send or how many tokes to test it would only need to trade said asset, and thus be used as a means of payment for services or the purchase of goods.
TRUEUSD
It is equivalent 1 to 1 with respect to the value of the dollar price, and its main function is that the platform does not have direct contact with the tokens of its users, it only has a partnership with companies that guard those reserves in dollars that provide security and trust to the currency.
TrueUSD Vs Tether
To understand the main difference between TrueUSD and tether, we must understand what franchise banking is, based on the fact that the main function of a bank is to keep our savings and protect them, well fractional banking does not protect 100% of the money deposited, it is on the contrary it borrows the money that has been saved by its users and uses them in business, what they do not count is that people at any time will want to withdraw 100% of their savings and when this happens, fractional banking does not have the necessary liquidity To allow this withdrawal, with this it is clear to us that these types of banks only reserve a part of the money deposited by their users and the rest use it for the bank's own business. something that sounds banstante dark if we talk about a cryptocurrency.
This is where trueusd comes to solve these problems that many have complained about, true conducts weekly audits something that tether has not yet done even the first time, trueusd offers full guarantee of the assets protected, while tether only a part and the The rest use it for their business because it is a fractional entity, trueusd issues smart contracts specially configured for this function, tether uses the onmi system of bitcoin, the differences between one and the other are clear, although it cannot be denied that tether is one of the stable ones. Coin most used worldwide and the trust at the end of the account is given by the user.
Alcanse social
Social reach
Website: It has a somewhat simple website but in it we find most of the necessary information that users require.
Twitter: Para sen un proyecto ambiciosos solo cuenta con poco mas de 2000 seguidores y no hacen publicaciones del proyecto muy seguido, algo que tether u otra stable coin que quiera estar entre las mejores no deberia permitirse, la información lo es todo si no informas los planes que tienes pocas personas creerán en ti.
Twitter: For an ambitious project, it only has a little more than 2000 followers and they do not publish the project very often, something that tether or another stable coin that wants to be among the best should not be allowed, information is everything if you do not report the plans you have few people will believe in you.
Medium: Una red social poco conocida en America, de verdad es que no se quien lleve el control de la parte de prensa de esta moneda pero si asi es como quieren llegar a mas personas no van por buen camino.
Medium: A little-known social network in America, I really don't know who is in control of the press of this coin, but if this is how they want to reach more people, they are not on the right track.
Alcanze en el mercado.
Scope in the market.
It is currently in position 139 in the general ranking with a capitalization of $ 299,928,911 in its last 24 hours, it has had a volume of $ 95,441,120, 13.38% higher compared to the previous day and in circulation there is an amount of 299,722,440 TUSD.
En conclucion
In conclusion
It is a stable coin with solid ideas of what they want if they achieve what they have in mind it is possible that they will face the all-powerful tether, although I do not see them well on track in terms of the dissemination of the project and the way they handle their The press department leaves much to be desired, social networks do not even give it, that makes the project reach fewer people and few know it, we are in the full digital age information flies and reaches any part of the world the neglect of this aspect It makes me suppose that they are still not on track to achieve their goal, without people to support them the project ceases to exist, it seems that they are focusing more on negotiating with the banks that give them support than making themselves known, but well, let's hope that everything flows and that the project becomes bigger in a few years.
Hi @torrealba2719
Thanks for attending the 7th -Crypto course on stable coins and for your effort in doing the given homework task.
Feedback
This is good work. Weldone with your research on TUSD.
Homework task
9
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Gracias. fue una tarea larga, le dedique 3 horas de investigación y 1 hora armandola desde el teléfono..
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