Ethereum co-founder Vitalik Buterin is the stablecoin, industry and a valuable opportunity. On the 20th of may, Buterin completely lose it on Twitter. It was found that stablecoins, users will be able to set up to move on different blockchains.
Yeah, in the special case of issuer-backed stablecoins, there’s lots of things that could be done, but aren’t, eg. every stablecoin could be an instant, cross the chain bridge!
— vitalik.eth zurich (@VitalikButerin) May 20, 2020
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Stablecoin may be a direct bridge between the blockchains
“In this specific case, the publisher is covered stablecoins, there are a lot of things that can be done, but that is not to be done. Each of the stablecoin may be, for example, is a direct bridge between the (block)chains are.”
Bitcoin is a fan and a developer, Udi Wertheimer also pointed out that it is something similar to what Buterin suggests is possible by cryptocurrency exchanges. He went on to explain that, as a user of the Ethereum version of the Tether’s USDT can be deposited on the Binance and be immediately exchanged it for the L-variant, or All (TRAINING) version of the Tether.
Buterin was later to say that he was happy about it would be to have a direct solution to the where you do not get a scholarship, you:
“I would love it if they (Tether), USDC, and the rest of the group could agree on a standardized API, may be a “bridge agreement”). Then, I don’t have to make the effort to Binance coins to move on.”
Tether has an advisory role in
Paolo Ardoino has been the technical director at the Tether. According to him, it must have a third party come up with a solution, not a provider of stablecoins:
“Tether is a provider of stablecoin. There are already plenty of projects working on solving this problem. This is a general problem that applies to all of the tokens in all of the blockchains. However, recommends that Tether things come to those who try to solve the problem. So, we have to take an active role in the process. We will develop the solution, just don’t do this.”
Still no solution for this problem
Ardoino, said that the biggest challenge in the development of such a system, the security implications of the blockchain is.
Earlier this month, and had to tBTC, for example, after a couple of days to stop using their services. This project is a local bridge to build between Ethereum and Bitcoin. Users can ether exchange it for bitcoin. Or was bitcoin, it was going to be a getokenizede version of bitcoin.
Swap your sugar ethers, for example, 1 bitcoin by tBTC, this bitcoin is embedded in the bitcoin blockchain. On the Ethereum blockchain, you have a tBTC token to the value of a single bitcoin. This token could then be exchanged for bitcoin. That way, you could be in a de-centralised manner, the ether exchange it for bitcoin. But due to a bug, it is that the project has now been stopped.