BitBay vs Gold Bits Coin vs bitCNY
What problem does this service solve?
BitBay's goal is to create a stable cryptocurrency that is not pegged to another asset. | Gold Bits Coin wants to create a digital currency with less price volatility, that will be backed by gold. | bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. |
Token Stats
Company Description
BitBay is developing a decentralized marketplace based on a non-colateralized stablecoin. Unlike other stabelcoins, BitBay is stabilized with a dynamic peg that is meant to reduce volatility without anchoring the price to another asset. The network has a Proof-of-Stake (PoS) consensus mechanism. | Gold Bits Coin is developing a digital currency that is backed by gold. They hope to create a digital asset with less price volatility that can be used as a medium of exchange. GBC is built on Ethereum. Their marketing materials are unclear about how much gold they have in reserve to back each Etherreum-based token. | bitCNY is a decentralized stablecoin that is pegged to the Chinese Yuan. It is based on the BitShares blockchain and has a Delegated Proof-of-Stake (dPoS) consensus mechanism. As a market pegged asset, the bitCNY token represents the amount of BitShares (BTS) that are equivalent to one Chinese Yuan. |