Crypto Academy Week 7 Homework Post for @yohan2on | Part 2

Hello friends,

In this post , I am here to submit my Homework task 7 which is given by @yohan2on

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USD COIN

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USD Coin (USDC) is a stable coin (an ERC 20 token) which is attached to the US Dollar making it's value approximately equal to that of US Dollars.

USDC is an Ethereum blockchain coin launched in 2018, developed by Centre in collaboration with Coinbase and Circle.
One can simply convert his or her USD into a crypto token (USDC) and use it for online transactions and can change it back to USD anytime.

It is the second largest stablecoin by market cap in the world of Crypto

Advantages of USDC

Monthly Audition: The accounting firm that ensure that USDC is backed 1:1 by US Dollars perform audit report regularly and make sure the report are publish to the public

Regulated & Compliant: The company Circle LTD, is fully licensed by New York State Department of Financial Services (NYDFS)

Coinbase Featured Stablecoin: USDC as been selected by Coinbase exchange as it’s featured stablecoin ensuring an exchange rate of 1:1 (USDC:USD).

Coinbase also allow users to withdraw their USDC to USD and this can be withdraw directly to thier bank account

Disadvantages of USDC

1 - Centralized.
2 - Heavily reliant on the banks.
3 - Hide important information.
4 - KYC is needed for Fiat.Disadvantages of USDC

Exchange

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Who created it and why ?

USDC is created by consortium which is also called Center and founded by Circle and Coinbase. It was first released in partnership between Circle and Coinbase in 2018 after being developed by the center.

The main purpose behind making it was that its founders wanted to keep its price constant equal to 1 US Dollar. As it is developed by Ethereum Blockchain , It allows to use ERC20 smart contracts.

The above image shows 24h trading vol , 24h low / 24h high , circulating supply , wallet , contracts etc. of USDC.

the market states of USDC are shown like All time high ( $ 1.17 ) , All time low ( $ 0.9241 ) , 24 hour high & 24 hour low , 7d low & 7d high, Volume/Market Cap. , Trading volume,

Conclusion

USDC is a highly transparent stablecoin with above average liquidity. The company Circle LTD has done an excellent job creating a secure, liquid, transparent, and easy to use stablecoin with several deposit and redemption options.

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@steemcurator01
@steemcurator02
@yohan2on

Thank you