Steem Dollars vs bitCNY vs TrueUSD
What problem does this service solve?
Steem Dollars are a stablecoin that are designed to be used as a less volatile medium of exchange on the Steem platform. | bitCNY is intended to serve as financial tool that will help stabilize the price of BTS relative to the Chinese Yuan. | TrueUSD is a stablecoin that can be redeemed 1-for-1 for US Dollars. It is a legally-enforceable certificate of ownership of the US dollar and enables users to hedge against volatility. |
Token Stats
Company Description
Steem Dollars, or Steem Based Dollars, are stablecoins released by the Steem platform and pegged to the USD. Steem Dollars (SBD) are one of the three currencies that help power the Steem social media platform. SBD holders are entitled to receive one dollars worth of STEEM when it is redeemed. | 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. | TrueUSD is a stablecoin backed by USD. It was created by TrustToken, a company that specializes in creating asset-backed tokens on the Ethereum blockchain. TrueUSD is fully collateralized and is transparently verified by third-party attestations. |