In this blog we are going to see what is the connection between smart contract in stablecoin and also have a touch a cryptocurrency payment gateway.
We can just recall about this two main topic first. Smart contract is nothing but a digital contract which is widely used to built trust between the strangers, that provides a great benefit to the traders/business people. On the other hand cryptocurrency is used across the globe and it's usage is raising in day-to-day life. The value of each crypto is differ for every second and it is unpredictabl and here comes stablecoin like a boon for crypto users. That is because,
Stablecoin usage are increasing day by day because of its well known beneficial feature of reducing volatility & it is very effective when using the asset backed stablecoin. So when asset backing stablecoin development
is widely categorized in three forms which are commodity-backed, fiat-backed and cryptocurrency-backed. Stablecoins are pegged with some asset which is known as asset backed stablecoin.
Thus asset backed stablecoin ensures to reduce the economical crisis and what about hacking or losing the cryptos?. Thus for that in fiat-backed stablecoin the peg is executed via smart contract. Smart Contract is basically build from blockchain so that obviously in safety & security which is widely known with other benefits.
Because it develop in blockchain, it can be developed in any blockchain platforms but highly preferred & using one in market is ethereum smart contract
, that is created using solidity language.
So, these thing obviously demand the need of upgrading to survey in this fast moving world and there come two important things, they are
The very famous cryptocurrency bitcoin provides a turning-incomplete script language which allows to build custom smart contract on it's top of BTC like cryptocurrency payment gateway
channels, time locks, escrows, etc.