Prices are in USD.
|Market Cap Rank||#225|
|Price Change 24H||-0.16%|
|Price Change Percentage 24H||-20.64%|
|Market Cap Change 24H||$-32,385,370.00|
|Market Cap Change Percentage 24H||-22.16%|
|Circulating Supply||187,817,008 husd|
|All Time High||
March 13, 2020
|All Time Low||
October 31, 2022 -
|Website||https://medium.com/@Stablecoin_HUSD , https://www.stcoins.com/ , https://www.linkedin.com/company/28857092/admin/|
|Explorers||https://ethplorer.io/address/0xdf574c24545e5ffecb9a659c229253d4111d87e1 , https://etherscan.io/token/0xdf574c24545e5ffecb9a659c229253d4111d87e1|
Among the top contenders aimed at ending the Ethereum pitfalls is Public Blockchain Nervos. The above is mainly achieved via decentralization; The Decentralized Finance( Defi). Off late it possesses a major element in that endeavour; HUSD a product of Huobi-backed Stable Universal Limited. In short, HUSD is a stablecoin backed up by the US-dollar.
Once there is the total integration of HUSD into the Nervos blockchain, Nervos' user will get to enjoy the privilege of US-dollar based deposits which allow them to acquire the Coin in return. The best aspect of this blockchain is the 1:1 ratio between the HUSD and the USD. The minted HUSD gets sent to their preferred crypto wallets.
In a nutshell, the brief description of the coingoes as an ERC-20 token that enjoys a 1:1 ratio pegged to the US dollar. For this, the resultant combined stability of the USD together with the total efficiency of HUSD blockchain technology, the coin is designed to be convenient, secure, and free from pitfalls of volatility, that trail other cryptocurrencies.
The HUSD blockchain operates on the Proof-of-work protocol. Please bear in mind that the coin is a stablecoin. For purposes of clarity, let's begin by taking a brief look at what stablecoins are. As the name points out, these are cryptocurrency coins that aim to provide the desired price stability. Received.
They are designed to curb pitfalls such as price volatility. The back-up mechanism that enables this is the unlimited supply as they are pegged to collateral. One may choose to peg to assets such as; US dollar, Gold, Oil or any other.
Now let's take a look at what the Proof-of-work protocol entails. Proof-of-work is built on cryptography; high-calibre Mathematical puzzles that once solved leads to an original transaction. Primarily, the developers/miner's solve these problems and rewards are given in return. They are rewarded for additional valid blocks in the blockchain. However, it is important to note that this process requires heavy energy and stealthy computational power.
At the moment, close to four stablecoins are supported by HUSD. These altcoins include; Paxos Standard (PAX), USD Coin(USDC), Gemini Dollar (GUSD) and True USD( TUSD).
Deposits in any of the above forms are enabled for users. Once deposited, one is free to keep track of the account balance. The best part lies in that one is free to redeem the HUSD Coin in any form of desired altcoins supported by the blockchain.
If we were to mention but a few of the huge achievements attained by HUSD Coin, we would no way forget to mention the following;
From the few insights above, we see a self-drive blockchain under able management that never fails its customers and users. Therefore, on future projections based on previously attained milestones, it will be logically safe to infer that HUSD is a viable investment.
Before immersion into this activity, one needs to conduct extreme survey and research on whether the set-up in use would generate the desired profit. As we all know, at times, the prices of HUSD fluctuate. Also, the magnitude of the number of miner's heavily impacts on the process too.
Due to the above factors, we recommend the use of ASICs. This hardware possesses the required power to mine HUSD Coin effectively, but they go for fairly high prices. Some miners tend to use GPU instead; however, the faulty bit in this approach is that there is minimal turnout.
Provided, are mining charts that carefully articulate how much US Dollars one can make of a given amount of hash rate. Moreover, in the above charts, one can find electricity costs and other charges. We need to have in mind that an increase in the number of miner's consequently, causes an increase in levels of difficulty.
After mining, the HUSD Coin can be stored in wallets. These wallets may consist of public keys and private keys as well. There are different forms of wallets, ranging from;
The most reliable to use with HUSD Coin include; Bitcoin wallet, Coinbase wallet and Sato wallet.
As a custodian of HUSD one should always;
As there occur spontaneous launches of several stablecoins aimed at eradicating volatility strains and glitches; among the outstanding altcoins comes HUSD Coin.
HUSD has a current market cap of $237,100,000. It also possesses $45,598,200 in volume every 24 hours, with a total supply of $236,895,000. It ranks 80th in the market rankings.
For all these factors, we think that anyone willing to invest in stablecoins should consider the Coins. The pegging, the work protocol, future projections and much points to the fact that we are bound to witness exponential growth with this altcoin.
Every coin possesses two sides. For purposes of duality-address, we wish to point out some of the pros and cons of the Coin.
Let's take a look at the benefits;
On the other hand, the pitfalls of HUSD include;
Users can sell or buy HUSD for one of the various cryptocurrencies. Some of the exchange platforms enabled for this include Change Now and Bitfinex
In a nutshell, we would conclude that Huobi Global's venture to invest in HUSD is a savvy move. Moreover, to any prospective investor, stablecoins are the next big thing. Consequently, an investment in the arena may lead to big economic booms soon.