The Electronic Dollar (eUSD), a decentralized 1:1 asset-backed stablecoin built with Reserve Protocol, launched on both the Ethereum and MobileCoin blockchains. eUSD is not an ordinary stablecoin – it is community-governed, censorship-resistant, and its collateral composition consists of a diversified basket of trusted stablecoin derivatives that generate yield.
What is the Electronic Dollar – eUSD?
eUSD is a stablecoin that stands out from others as it is backed 1:1 by a diversified basket of yield-bearing trusted stablecoins, is censorship-resistant, and governed by the community in a fully decentralized way. It is launched on both the Ethereum and MobileCoin blockchain, offering features like 24/7 proof of reserves, end-to-end zero-knowledge encryption, and regulatory compliance.
What is MobileCoin?
MobileCoin is a blockchain network that enables borderless, private-payments at sub-penny fees, and is optimized for mobile devices with settlement in less than 5 seconds. It employs end-to-end zero-knowledge encryption for privacy and utilizes a KYC/AML-permissioned bridge for regulatory compliance. Reserve has partnered with MobileCoin to operate the bridge and enable the use of eUSD on the MobileCoin network.
What is MobileCoin?
MobileCoin is a blockchain network that enables borderless, private-payments at sub-penny fees, and is optimized for mobile devices with settlement in less than 5 seconds. It employs end-to-end zero-knowledge encryption for privacy and utilizes a KYC/AML-permissioned bridge for regulatory compliance. Reserve has partnered with MobileCoin to operate the bridge and enable the use of eUSD on the MobileCoin network.
Conclusion
The launch of eUSD is another stablecoin milestone in the development of decentralized finance. Its decentralized, community-governed, and censorship-resistant nature, coupled with its asset-backed collateral composition and yield generation, makes it an attractive stablecoin for DeFi participants in midst of the regulatory crackdowns of stablecoins.
The post Launch of a New Stablecoin: Electronic Dollar – eUSD appeared first on YourCryptoLibrary.
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