Cryptocurrencies have come to stay and it’s still getting rapid adoption and usage thanks to a number of new ICOs introducing more coins into the market. As a medium of payment for purchases, it’s still has very low adoption. This is largely because nobody really uses it to pay for goods and services. Owners and investors are basically cut out to make profits either in the long or short run. This has greatly affected the price of most cryptocurrencies as it has become too volatile to be adopted and accepted and a major means of payment by most merchants.
A standard coin whose value doesn’t fluctuate with the market economy would definitely see a more wider adoption but no such coin exist. However, standarta has created a new type of cryptocurrency that is backed by its community members so as to pend the price to a standard price of $1. The STC and GCC cryptocurrencies are the native coin of the proposed one million member standarta community. A community that seeks to enforce the acceptance and usage of cryptocurrencies as a means of payment of goods and services. The concept behind the standarta coins is simple.
- Store an agreed value on the coins
- Wide spread adoption.
The STC will have its value set to $1 by default and can only rise the $1 value. While the GCC’s will be determined by the market forces and economy. The GCC will be used to regulate the price of the STC coin to make sure its value does not go below the $1 mark at any point in time.
Find more about this project on their website
Link to whitepaper
Bounty link
Author details
Bitcointalk username :Romeoetin
Bitcointalk url https://bitcointalk.org/index.php?action=profile;u=2093652