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

hii crypto professor,@yohan2on

What is TrueUSD (TUSD)?

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TrueUSD (TUSD) is a stablecoin that peg their value to the U.S. dollar at 1:1. It is the second stablecoin cryptocurrency to be created, and managed to reach the second place among the most important and popular cryptocurrencies. The company that is in charge of this currency is TrustToken Inc. This cryptocurrency is associated with fiduciary institutions thus supporting the funds and keeping them safe, generating trust in customers. It is an ERC20 token, (Ethereum the most popular platform in the token world.)

The TrueUSD is an Etheruem-based token, it's the first stablecoin that was fully regulated and transparent.

How this coin works?

Currently there are two ways for all its users to use this currency and be able to redeem it to acquire services or accessories, just by transferring the funds from one wallet to another using it as a means of exchange or payment as it happens with any other cryptocurrency, achieving transactions fast, safe and easy to do, but that is if all these transfers are irreversible so be careful when making a transfer.

Pros and cons of TUSD

Something that happens a lot is that they confuse the TUSD with USDDT

But by supporting the funds in fiduciary institutions, it allows to avoid a little fraud, it generates greater confidence in the users. Well, the fact that it is subject to continuous audits, that leads to having control over the issuance and timely elimination of the tokens, which would avoid the creation of tokens without support

One of the great disadvantages, which I think most cryptos suffer is the need to use the internet, which at least in my country is increasingly complicated and unstable, which does NOT indicate that cryptos are not a great investment and in my opinion is the future and very near.
The fact that it is backed by the dollar seems to me to be a huge advantage.

Advantages of TrueUSD (TUSD)

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1- TrueUSD has a trustworthy money Management. The way TrueUSD’s platform is set up, it lets you to swap USD directly with escrow accounts by design instead of wiring money through TUSD network.

2- TrueUSD also has regular attestations. All possessions of escrow accounts are mastered to regular proof that are establisged openly.

3 -TrueUSD has legal protection. The firm establishes a regular attestations that come with strong legal protection given by the escrow accounts.

Disadvantages

1 -If today's economy decreases in value, so will all cryptocurrencies, including Stable Coins.
Hacking risk.
2 -They cannot always ensure the value of the Stable Coin and its support, that is, the user cannot see in real time the gold or dollars that support the Stable Coin.
3-The central companies that manage their respective Stables Coins can block or silence users only for reasons known to them.
4 -These same companies can shut down platforms and cancel smart contracts if they want to.

Conclusion

I think USDC is a good stable coin. And by the way, it is the second most popular and used stable coin after USDT. As I mented in the first part that Crypto Currency is the future. So we have to change ourselves. Till we do not support anyone, how will that proceed and grow further?

@yohan2on
@steemcurator02

Thank You