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
PFP
It means both 'profile pic' and 'picture for proof'.
Hybrid PoW/PoS
It is the allowance for both Proof-of-Stake and Proof-of-Work distribution consensus to work on the same network.
Block Height
A number that is used to indicated the position of a particular block within a blockchain
YTD
Acronym for Year-to-date
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