BitUSD is a smart coin that runs on the bitShares network. This is, by far, one of the most reliable stablecoin out there with the potential of expanding exponentially. Unlike the other coins on this list, BitUSD is a smart contract. BitUSD is a crypto-collateral asset. Whenever a user wants to own a certain amount of BitUSD, he/she needs to deposit twice as much on the bitshares network. These funds are locked out in a smart contract and the user receives the requested amount of bitUSD.
The value of one bitUSD is pegged to that of an American dollar. In order to get back the bitShares deposited in the contract, the user needs to return the bitUSD. By making the user deposit the amount, the network is free from any kind of fraud or manipulation.
Additionally, it also keeps the value of bitUSD extremely stable. Since this is just a smart contract, the same can be done to mimic other fiat currencies such as Euro, Chinese Yuan, etc. and create bitEUR and bitCNY respectively.
- Ticker Symbol: BITUSD
- Token type: Bitshares Blockchain
- Website: BitUSD