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.
Related Terms
opML (Optimistic Machine Learning)
opML (Optimistic Machine Learning) employs an optimistic verification mechanism and is able to handle large-scale machine learning models with billions of parameters efficiently, using fraud proofs that verify the ML computation.
Mt. Gox
Mtgox or Mt. Gox was one of the first websites where users could take part in fiat-to-bitcoin exchange (and vice versa).
Gas
A unit of measurement of the computational effort in conducting transactions or smart contracts on Ethereum blockchain.
Decentralized Autonomous Organization (DAO)
Open source and decentralized systems that do not require centralized operators or controllers.
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