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Fiat-Pegged Cryptocurrency

By CoinGecko | Updated on Mar 03, 2020
Certain cryptocurrencies are pegged to an underlying asset, such as the USD Coin (USDC), which is a stablecoin by Coinbase. A USDC token is issued for every $1 kept in Coinbases' reserve. A pegged cryptocurrency can be pegged to any asset and then issued on a blockchain. As long as the cryptocurrency can be redeemed for the underlying asset, it can be considered as a pegged cryptocurrency.

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Related Terms

Shitcoin
A coin with no obvious potential value or usage.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Circulating Supply
An approximation of the number of coins or tokens that are currently not locked and available for public transactions.
Distributed Denial of Service (DDoS) Attack
A common cyber-attack tactic where a perpetrator diverts large amounts of traffic towards a particular network or service in an effort to disrupt normal services.
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