The leader on the market is stable cryptocurrency Tether (USDT) has a serious competitor in the face of a digital asset called Gemini Dollar, the brothers Winklevoss. The brothers took into account the shortcomings of the USDT and developed optimal the coin that combines the advantages of blockchain technology and the stability of the us dollar.
Features Gemini Dollar
Gemini Dollar (GUSD) was released cryptocurrency exchange Gemini in the Ethereum blockchain. September 10, customers can buy Gemini GUSD for dollars at the rate of 1:1 and translate them to your cryptocurrency wallet supporting tokens standard ERC20. Coins provided dollars stored in Bank State Street Bank the account balance will be checked every month by employees of an independent auditor.
Many members of the crypto community reacted positively to the news of the release of a new cryptocurrency. According to the journalist Joseph Jung, Gemini Dollar is more important to kriptonyte than cryptocurrency exchange traded funds (ETFs). Joseph believes that GUSD will use institutional investors as its main competitors (USDT and TUSD) does not have a license and have not been audited.
Tether accused of market manipulation
In the period from January 2017 to September 2018 the number of Tether tokens has increased from 10 billion to 2.8 billion. In early 2018, the share of USDT accounted for only 10% of the total trading volume of Bitcoin, and now the figure is 80%! Company Tether became the Central Bank of the cryptocurrency, however, her reputation is called into question: researchers John Griffin and Amin Shams accused the firm of manipulating the exchange rate of Bitcoin on the exchange Kraken.
Stable cryptocurrency Gemini Dollar can be a link between Fiat currencies and digital assets, traditional financial market and cryptocurrency. With GUSD investors will be able to tokenservice dollars and use them to purchase other virtual currencies.