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An Overview of Stablecoins

Source: George Samman & Andrew Masanto

Technical Details

At the technical level, stablecoins, in general, boasts many of the same benefits of Bitcoin and others, but they offer fewer drawbacks. Stablecoins are built on top of the same blockchain technology, allowing users the ability to conduct transparent peer-to-peer (P2P) transactions without any middlemen involved. These transactions happen with low fees and in some situations, zero fees. They’re also available for use by anyone, regardless of where they are in the world.

Source: Blockdata
  1. Asset-Backed Off-Chain: Stablecoins backed by a “regular” fiat currency such as U.S. dollar (USD) or euro, precious metals or other real-world assets. It requires trust in an opaque and centralized third party to hold the collateral.
  2. Algorithmic: Stablecoins relying on a combination of algorithms and smart-contracts to maintain price equilibrium, it requires continual network growth and investment to provide capital and support a falling currency value.
Source: Blockdata

Market Overview

According to research done by Blockdata, the stablecoin market between 2014–2019 has seen over 200 projects introduced. Only ~30% of those projects are live today, with others in-development or closed. Furthermore, 66 of them are currently live (see chart below).

Source: Blockdata
Source: Stable Report

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