6 ms·
He said "Stablecoins are tokens that are backed by a fiat currency." But it really tokens that are pegged to a fiat currency. You can't redeem tethers because
by Scott_Sanderson 5y ago
He said "Stablecoins are tokens that are backed by a fiat currency."
But it really tokens that are pegged to a fiat currency. You can't redeem tethers because there is no back account holding a dollar for every tether.