Gold Bits Coin vs Tether vs USD COIN
What problem does this service solve?
Gold Bits Coin wants to create a digital currency with less price volatility, that will be backed by gold. | Tether is the largest stablecoin. It allows crytpcurrency traders to hedge against volatility. | USDC is designed to be a stablecoin that will reduce price volatility in crypto markets, and will serve as a solution component that can be incorporated into other decentralized apps and services. |
Token Stats
Company Description
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. | Tether (USDT) is the largest stablecoin cryptocurrency. It is pegged to the US Dollar. (1 USDT=$1 USD) Each Tether token that is issued is backed by $1 USD that is supposedly held in reserve. Tether has been the subject of some controversy because they have failed to allow a transparent audit of their currency reserves. | USD Coin is a stablecoin created by Coinbase and Circle. It's backed by USD (1 USDC=$1 USD), and is designed to be a stable digital currency that will fit within the trust and regulatory frameworks of the financial system, while still benefiting from the transparency and advantages of crypto powered networks. USDC is issued using the CENTRE open source framework and membership scheme, and it is available as a framework that multiple companies can leverage. Eventually other financial institutions will be able to become USDC issuers (and issuers of other fiat stablecoins - e.g. EURC, JPYC, GBPC), and customers will be able to tokenize USD and redeem USDC tokens in an open and interoperable ecosystem of financial institutions. A membership governance model for issuers will ensure that they meet technical, operational, regulatory, compliance and audit requirements. |