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From centralized to algorithmic to asset-backed, what are digital currencies tied to a physical asset, usually a fiat currency
by Stefano Capaccioli and Marco Tullio Giordano
One of the driving forces of the entire DeFi ecosystem, on which the hope of a real mass adoption of the various decentralized financial services in the years to come is often placed, is constituted by the so-called stablecoin, special cryptographic tokens – based on the same technology as bitcoin and other cryptocurrencies – which represent a stable asset, both physical and monetary, in conventional form: their value, in fact, is linked to the performance of a physical asset …