CoinoUSD – USD on blockchain.

Using NXT cryptocurrency technology we have launched CoinoUSD – USD-tied cryptoasset which lives on NXT blockchain, here is the link to its NXT Asset Exchange listing: http://nxtreporting.com/?as=12982485703607823902. Probably some background is needed. As you probably know, cryptocurrency is volatile, this is the direct outcome of its decentralized nature. Bitcoin price is determined through open market trading procedure. Due to the fact that trading volume of BTC is relatively small ,compared to traditional trading instruments, its price can vary 10% per day easily. Many people don’t like this fact, merchant acceptance is also hampered by this, you can’t sell a good for a currency that can lost 20% the next day. So a lot of thinking was put into figuring out a way to issue a cryptocurrency denominated in fiat money such as USD. To keep its price stable probably some kind of market making is needed (although there are other attempts to tie … Read more

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Crypto securities experiments go on – decentralized assets at a centralized exchange.

We have finished our IPO part 2 at NXT AE, selling around 2,500,000 shares at a price of 2 NXT each. This could deserve a separate post in itself, but this is not the most interesting actually – we continue our experiments with emerging cryptosecurities markets, and list our asset on Poloniex.com, traditional centralized exchange. You might ask so what’s cool about it? Is this a move in the right direction? Actually yes, this is very interesting and we’ll see more of that type of listings in future. The thing is we have listed a decentralized security at a centralized exchange: https://poloniex.com/exchange/btc_cnmt How is this possible? Cryptocurrency magic enables this, our Coinomat asset exists on NXT cryptocurrency blockchain, and technically it is not that different from NXT cryptocurrency itself, meaning that you can send it as easily as you can send NXT. So it can be credited to your account at a “normal” cryptocurrency exchange such as Poloniex, … Read more

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