Algorithmic Stablecoin
By CoinGecko | Updated on Aug 13, 2021
Algorithmic stablecoins are tokens pegged to a fiat currency which is usually the US dollar, purely through software and specific conditions. For example, as the price rises, the algorithm may issue more coins, and when the price falls, it purchases them off the market.
Related Terms
Dusting Attack
A new form of malicious activity in which hackers and scammers attempt to undermine the privacy of cryptocurrency users by sending little amounts of money to their wallets.
Trading Volume
The amount of the cryptocurrency that has been traded in the last 24 hours.
Algorithm
Algorithm is a set of rules to follow to solve a problem or conduct a task.
Private Keys
The alphanumeric string which allows transactions from the cryptocurrency address
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