An ERC 20 Stable Coin

[adekogbe]

Stable coins have been on the rise for some time now and there are different stable coins now compared to when it was just USDT.

Now here is the problem, why is there no USD based stable coin that can be saved in the normal ERC 20 compatible wallets.

If there is one, please mention it and if there isn't, what do you think about the possibility of one been introduced.

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[CryptoTech_]

I don't think there is because ERC20 is based on ETH so it will inevitably continue to refer to ETH prices if ETH drops ERC20 tokens go down but if ETH rises ERC20 does not necessarily rise

[disconnectme]

TrueUSD, Dai, USDC and some few other coins are ERC20 stable coins, if you are interested in holding some of these stable coin I would advice you to invest into those that are backed with real fiat in the bank, DAI is not backed by anything but Ether and with the current state of Ethereum I won't be long on DAI

[karman383]

I don't think there is because ERC20 is based on ETH so it will inevitably continue to refer to ETH prices if ETH drops ERC20 tokens go down but if ETH rises ERC20 does not necessarily rise

Actually there is... USDT also got an ERC20 Token.

Smart-Contract:
https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7


https://wallet.tether.to/transparency


And sorry, but your explaination doesn't make very much sense... If something is backed by USD it shouldn't go below the USD-Value it's backed - doesn't matter if it's a coin, a token or a piece of paper.
By the way: The "classic" USDT also doesn't provide its own blockchain - it's running on the Bitcoin-Blockchain.

Since Tether is currently available using two different transport protocols (Bitcoin and Ethereum), when users send tethers to other addresses, they need to carefully check the destination address to confirm whether it is in the standard Bitcoin or Ethereum format and select the correct transport protocol.

Why I just saw this news  , to be honest I just saw and often watched the stable coin chart of the USDT Tether and TrueUSD (TUSD). So far, I have only seen a difference between ERC20 and USDT. Thank you for enlightening me, I really got new knowledge here.

[adekogbe]

I don't think there is because ERC20 is based on ETH so it will inevitably continue to refer to ETH prices if ETH drops ERC20 tokens go down but if ETH rises ERC20 does not necessarily rise

Actually there is... USDT also got an ERC20 Token.

Smart-Contract:
https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7


https://wallet.tether.to/transparency


And sorry, but your explaination doesn't make very much sense... If something is backed by USD it shouldn't go below the USD-Value it's backed - doesn't matter if it's a coin, a token or a piece of paper.
By the way: The "classic" USDT also doesn't provide its own blockchain - it's running on the Bitcoin-Blockchain.

Since Tether is currently available using two different transport protocols (Bitcoin and Ethereum), when users send tethers to other addresses, they need to carefully check the destination address to confirm whether it is in the standard Bitcoin or Ethereum format and select the correct transport protocol.

I understand, but this USDT you are making reference is not backed by physical real cash and what is the difference between it and the classic USDT which has its own blockchain.
I learned true USDT is ERC 20 compatible but is it also backed with real life Dollars.
In a time of market drop it is important to have stable coins to retain dollars value

[dodgecharger]

The current cryptocurrency can not be recognized by most people. The stable currency based on cryptocurrency is not really stable. It will also be subject to market conditions and may collapse at any time.

[Little Mouse]

USD tether is two kinds. One is based on ERC20 and you probably do not know about this. You can get ERC20 usdt if you want a stable coin. This coin is also risky because it is a kind of lending money to the token owner.

[makishart]

I don't think there is because ERC20 is based on ETH so it will inevitably continue to refer to ETH prices if ETH drops ERC20 tokens go down but if ETH rises ERC20 does not necessarily rise

Actually there is... USDT also got an ERC20 Token.

Smart-Contract:
https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7


https://wallet.tether.to/transparency


And sorry, but your explaination doesn't make very much sense... If something is backed by USD it shouldn't go below the USD-Value it's backed - doesn't matter if it's a coin, a token or a piece of paper.
By the way: The "classic" USDT also doesn't provide its own blockchain - it's running on the Bitcoin-Blockchain.

Since Tether is currently available using two different transport protocols (Bitcoin and Ethereum), when users send tethers to other addresses, they need to carefully check the destination address to confirm whether it is in the standard Bitcoin or Ethereum format and select the correct transport protocol.

I understand, but this USDT you are making reference is not backed by physical real cash and what is the difference between it and the classic USDT which has its own blockchain.
I learned true USDT is ERC 20 compatible but is it also backed with real life Dollars.
In a time of market drop it is important to have stable coins to retain dollars value

There was a lot of doubts about the reserved funds of tether company because they refuse the audit. Not sure if even USDT ERC20 backed by real dollars.
TUSD looks interesting too because it's build in ethereum blockchain https://etherscan.io/address/0x0000000000085d4780B73119b644AE5ecd22b376

[moonblocks]

There are several stable coins such as Tether (USDT), USD Coin (USDC) and Gemini Dollar (GUSD) which are ERC-20 compatible and you can store these in an appropriate hardware or mobile wallet if you choose just make sure you that if you're using Tether to double check which type it is because there's two different versions of it which can be a little confusing and only one of them can be transferred to an Ethereum wallet

[publicjud]

Stable coins have been on the rise for some time now and there are different stable coins now compared to when it was just USDT.

Now here is the problem, why is there no USD based stable coin that can be saved in the normal ERC 20 compatible wallets.

If there is one, please mention it and if there isn't, what do you think about the possibility of one been introduced.

Wait a moment, I don't know nonERC20 stablecoin except tether. PAX, TUSD, USDC, GUSD - they all erc20 tokens, so you can store them like any other erc20 tokens.

[Wildwest]

TrueUSD, Dai, USDC and some few other coins are ERC20 stable coins, if you are interested in holding some of these stable coin I would advice you to invest into those that are backed with real fiat in the bank, DAI is not backed by anything but Ether and with the current state of Ethereum I won't be long on DAI

That's right, ERC20 has a lot of stable coins, maybe he doesn't know yet another stable coin because of the many coins made by the ERC20 platform

[BitcoinHodler]

to be honest that doesn't make much sense to me because that would mean a centralized coin that is fully relying on another centralized platform! the result seems to be more of a mess than a stable coin. what we have now is that these coins are at least having their own blockchain and are not exactly relying on anything else. and that makes things somewhat easier for them.

[Badhuamin]

maybe now there is no Erc20-based coin that is the same as usd with a stable price, maybe in the future it will be much better if there is a coin like that because it will be easier to use if in a coin the price will be the same and stable.

[anume123]

I don't think there is because ERC20 is based on ETH so it will inevitably continue to refer to ETH prices if ETH drops ERC20 tokens go down but if ETH rises ERC20 does not necessarily rise

That's correct for those compatible only in Erc20 wallet is those new coins or tokens that releasing up and listed in on MEW wallet they also accept it for ETH based only.

[bitmover]

Finally tether monopoly over stable coins market is now over and we have a great  diversity of stable coins using different technologies many of them are erc20, like gusd and usdc , like others said.

Personally I wouldn't mind much about the technology they use, but about the capacity for that companies to pay back1 USD for each token.

[septi.JR]

I think there are no stable coins of ERC20 or other coins and tokens, all of them are obedient to market conditions and the most influential are old coins like BTC

but what impressed me was the BNB that was widely traded, even though the BNB was a coin that still appeared recently

[Wolfwar]

I think there are no stable coins of ERC20 or other coins and tokens, all of them are obedient to market conditions and the most influential are old coins like BTC

but what impressed me was the BNB that was widely traded, even though the BNB was a coin that still appeared recently

You are a little wrong. The fact is that in early 2018, Tether announced the transition of their token to erc20. This will make it possible to reduce the cost of working with USDT and another cryptocurrency and will make life easier for users. You can check this information by seeing the name of the USDT token in Etherscan.

https://tether.to/

https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7

[nak02]

Actually not, because it was depends of the project development, even the ETH drops as long the ERC20 tokens is in good condition in market it can surpass even the ETH where the foundation. I think the stable price is the USD in crypto  that you can also buy.

[chriseasan]

There are stable coins that are based on Ethereum smart contract. ROCKZ is a stable coin that is backed by Swiss franks and is based on Ethereums blockchain. Their TGE is now live, so check it if you want to know more.

[debby070]

Stable coins have been on the rise for some time now and there are different stable coins now compared to when it was just USDT.

Now here is the problem, why is there no USD based stable coin that can be saved in the normal ERC 20 compatible wallets.

If there is one, please mention it and if there isn't, what do you think about the possibility of one been introduced.

Was it really possible? How come can an Ethereum token on ethereum blockchain can be a stable coin? Basically I always see some drastic changes in prices of ethereum tokens after the ICO is finished.