The Michael Caz Podcast brings you the latest in health, business, relationship, and adventure.
Manage episode 260328752 series 2533102
In today’s episode, Nick Saponaro talks about stable coins with David Johnston, one of the best leaders in this field. David is a lifelong entrepreneur that built tech companies since his teenage years. His exposure to virtual currency at a young age helped him develop and improve his expertise in the field. Most people are familiar with reserve-based stable coins, which are the same as USD, and theoretically, there are several dollars saved in a bank account. Each dollar has a corresponding token equivalent. However, one cannot assure that there are complete or fractional reserves as well as if a trustworthy person holds these reserves, which resulted in regulations. People started moving into collateral-based stable coins, and the challenges include having to over collateralize at least 1.5 to 2 times the collateral due to volatility. PEG and PegNet come into the picture are both a third way of handling stable coins that’s consensus-based. The algorithm for the PegNet software ranks depending on which user has the most significant hash power. It also operates by ranking prices that are closest to the medium. Overall, PegNet rewards users for their work plus accurate data. Every ten minutes, the whole PEG network runs a consensus depending on the prices that several global markets release, thus creating the first-ever decentralized oracle. -- Divi is creating the world's first closed-loop, vertically-integrated cryptocurrency ecosystem. Much like Apple's ecosystem is anchored by iCloud, the Divi Project blockchain serves as the core of the Divi network of technologies. Thanks to a keen understanding of the divide that separates the mainstream from the crypto world, the Divi team is able to create solutions to the industry's biggest problem: adoption by non-technical users. Divi's user-friendly, one-click solutions aim to bring blockchain-based payments into modernity with great UX. In this podcast, we will cover all aspects of cryptocurrency, hot topics, and technology as worldwide adoption grows.