A blockchain startup aimed to offer you cross-blockchain payments has introduced it is arranging to convey its existing stablecoin to the EOS network.
Referred to as Havven, the Australia-dependent undertaking said in a launch on Wednesday that it is expecting to situation its nUSD stablecoin on EOS by the conclusion of this 12 months immediately after the U.S. greenback-pegged token initially released on the ethereum mainnet in June.
The undertaking said that the goal is not to change the token’s fundamental network from ethereum to EOS but to situation the stablecoin in the two networks separately – a mission it statements to “offer you cross-blockchain stablecoins.”
“At this stage, cryptocurrency is still in its infancy, so it is really not obvious which blockchains will deal with to scale,” Havven’s founder Kain Warwick said in the announcement, introducing:
“For this reason, it is really critical that assignments supplying blockchain infrastructure program to give cross-chain compatibility, so their results isn’t bound to the results of regardless of what chain they have picked.”
A stablecoin is commonly created to alter its supply as the market place shifts in order to manage a rate pegged to a fiat forex so that its balance would make it easier for corporations to adopt.
For occasion, stablecoin startup MakerDAO is at present doing the job with supply chain administration firm Tradeshift to use its ethereum-dependent DAI token to help pace up payments for modest corporations.
Havven’s work will come immediately after EOS formally introduced the extensive-awaited network launch in June. Block.1, the maker powering the EOS blockchain also discovered a $1 billion investment decision fund to aid the expansion of its ecosystem.
The goal of launching cross-blockchain stablecoins also follows past news that IBM is doing the job with a startup called Stronghold to launch a stablecoin on the stellar blockchain.
Stable graphic by means of Shutterstock