'Stable Coin': The One That Upset the Cryptocurrency World Market

'Stable Coin': The One That Upset the Cryptocurrency World Market

In the last few days, there has been talking of stable coins in the crypto market. As the value of stable coins fell, so did the cryptocurrency market.

Social media, especially Twitter, has been trending for the past couple of days because 'TerraUSD' (Luna) has not been stable. Terra has lost 100% of its value.

TeraUSD is still considered to be the most popular stable coin in the world. Currently, many investors in Stable Coin have sunk their investments. Today, the stable coin has become the focal point of the crypto ecosystem.

Here is what Stable Coin is and how it is priced, and why it is currently being discussed in the market.

What is a Stable Coin?

Stable coins are also a type of cryptocurrency. But stable coins are considered relatively safe compared to other cryptocurrencies. Because the value of cryptocurrency is very sensitive.

Its value can skyrocket in one moment and fall sharply in another, drowning out the investor's investment. This is the beginning of a stable coin to control the fluctuations.

The value of a stable coin does not fluctuate as much in a short period as that of other cryptocurrencies. That is why it plays a very important role in the cryptocurrency market. In common parlance, a stable coin is a fixed-value cryptocurrency whose value is determined based on real currency or gold.

For example, a stable coin is worth one US dollar. There are different types of stable coins in the market now, the price of which depends on different currencies or commodities.

Types of Stable Coins

The stable coins currently in use are currency-based stable coins, crypto-based stable coins, commodity-based stable coins, and algorithm-based cryptocurrencies.

The value of a stable coin based on a currency is related to a certain currency such as the dollar, euro, etc. One stable coin equals one dollar deposited in a bank. Most investors are attracted to it because it is so easy to trade.

Stable coins based on another commodity are related to any commodity such as gold, real estate, or oil. The most popular commodity stable coin in the market is the stable coin related to gold.

The price of this type of stable coin varies depending on the item. That is, when the price of gold goes down, so does the price of stable coins. One token equals one gram of gold.

Sometimes gold equivalent to a stable coin of reliability is also kept in the bank. Stable coins based on commodities, especially gold, are also popular because commodity prices do not fluctuate much.

Similarly, crypto-based stable coins are based on blockchains with no centralized trading. Its business is based on decentralization. As it is based on cryptocurrency, it is not more stable than others.

Another type of stable coin is the stable coin based on algorithms. It is a system that controls the supply of stable coins, not based on any commodity or property. Its trade depends on the supply of stable coins.

Stable coins popular in the market

Stable coins used to buy and sell crypto are now very popular in the market. Among them are Stable Coin Tether and USDC, which are very popular and used.

Why Stable Coin is Needed?

The main function of a Stable Coin is to facilitate buying and selling of crypto. Instead of buying cryptocurrency directly by paying real money, investors use stable coins to trade bitcoin or crypto.

This means that for crypto trading, stable coins are like poker chips. It is also used as a remittance in some countries.

That is, stable coins based on real currency are used to transact from one country to another. This saves a third-party fee. No bank account is required to use it, but a crypto wallet is required.

Why is Stable Coin in the discussion?

Lately, the stable coin has become very popular. There has been a lot of talk about this, especially since the TeraUSD stable coin crashed. Last week, the price of TeraUSD fell by more than 90 percent. As a result, the value of other cryptocurrencies fell by about 50 percent.

TeraUSD is a stable coin based on blockchain. This is the reason why its price has come down due to some technical problems. However, the exact reason has not come yet.

At present, various companies have stopped their business, and TeraUSD itself has said that its business has been stopped.

Investors are now confused about whether it will resume trading or whether its value will rise again.

iPhone with switch-off can also be hacked

What to do if the malware appears on your iPhone? Of course, the first option is to switch off the mobile. Because with the help of malware, hackers can gain access to important information on your mobile.

In that sense, it is safe to say that hackers cannot gain access to mobile phones when they are switched off. However, studies have shown that switching off the mobile does not make any difference in the case of the iPhone.

Researchers at the Technical University of Darmstadt have discovered a new type of malware on the iPhone. According to him, the hackers have been able to easily access the user's data even when the iPhone is turned off.

The iPhone has been providing low power mode on the iPhone since 2018. As soon as this mode is available, NFC, Ultra-Wideband, and Bluetooth chips are switched off on the iPhone.

Moreover, features like Express Card, and Car Key have been added to iOS 15. All these features are working in the background even when the mobile is switched off.

Taking advantage of this feature provided by Apple on the iPhone, hackers are said to send malware to the mobile and from there access to the user's mobile. This malware is said to work until the battery of the mobile is completely exhausted.