Home / Crypto Currency / Havven Launching First Decentralised Multicurrency Stablecoin

Havven Launching First Decentralised Multicurrency Stablecoin

Bitcoin price


This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.

This month, Havven will launch the first decentralised stablecoin system in a variety of currencies all backed by a single cryptoasset collateral pool. The first batch of currencies released includes the Euro (nEURO), Japanese Yen (nJPY), Korean Won (nKRW), the Australian Dollar (nAUD), and gold (nXAU).

These new stablecoins will complement Havven’s USD-pegged stablecoin, nUSD, which launched in June this year, and further currencies will be added in the near future. Havven uses a novel stability mechanism in which its stablecoins, nomins, are backed by collateral tokens, HAV. HAV holders receive fees generated by nomin transactions.

Decentralised stablecoins can be used to make stable payments and provide a censorship-resistant alternative to fiat-backed stablecoins such as Tether. A decentralised stablecoin denominated in a variety of currencies will enable adoption in many countries that do not use USD as their unit of account, and will also open up new forex trading possibilities.

Havven’s ability to support synthetic assets in different currencies is enabled by its ability to track the debt of each participant (i.e. the ratio of stablecoins to locked collateral) without needing to adjust the debt individually for every change, such as fluctuating currency values and HAV holders entering or exiting the system.

Future nomin currencies to be launched will include nCNY, nGBP, nBTC, and nETH. Another currency will also be decided in a community vote by HAV holders.

A date for the first release has not been announced, but it is expected in late November.

About Havven

Havven is a cryptoasset-backed stablecoin that launched in 2018. Major backers include BlockTower, BlockAsset, GBIC, AlphaBlock Investments, and Astronaut Capital.

Havven was founded by Kain Warwick, co-founder, and CEO of Blueshyft, a retail payment network of over 1250 locations across Australia. blueshyft has become the largest cryptocurrency payment gateway in Australia, processing tens of millions of dollars in transaction volume.

To learn more about Havven, you can visit their website, blog, or join their Discord community.

Read more

Check Also

Bitcoin Cash Price Gets Skewed due to Exchange Trickery

A lot of confusing action is taking place where the Bitcoin Cash price is concerned. Although its actual decline in value is quite obvious for everyone to see, the real price of BCH is not necessarily what people can see on Coinmarketcap. This is primarily because numerous exchanges treat BCHABC as Bitcoin Cash already despite nothing being decided in terms of which chain will be the longest. Bitcoin Cash Value Fluctuates Heavily Depending on where traders look at, the price of Bitcoin Cash will be either close to the $400 level or down to $250-ish. That is quite a large gap between prices, yet one that is also very easy to explain. Bitcoin Cash, as people knew it before the fork, no longer exists. Most professional exchanges have also retired this price ticker, for the time being. As the hash war rages on, there are still a lot of unknown factors waiting to be addressed. Despite this ongoing kerfuffle, there is a net 5.76% decrease in the Bitcoin Cash price, and a 5.4% decline over Bitcoin. More specifically, that is what CoinMarketCap reports at this time, although this is not necessarily the case whatsoever. In fact, some exchanges are clearly jumping the gun by labeling BCHABC as BCH and thus dragging the Bitcoin Cash price down a bit more. Exchanges currently engaging in this activity include Bittrex and Coinex, neither of which plays a big role of importance when it comes to trading. However, based on the current value of BCH on Bitfinex and Gate.io, it seems a similar incident is taking place. One also has to keep in mind Bitcoin Cash was getting battered ahead of the network split as well. Most exchanges have halted trading of BCH indefinitely, primarily because the currency no longer exists. It is evident either BCHABC or BCHSV will take over that name in the future, but nothing has been decided at this point. As such, any trading referring to just “Bitcoin Cash” or “BCH” should be avoided, as most users can never be sure which currency is effectively being traded under this name. All of this skews the picture pertaining to Bitcoin Cash altogether. Coinmarketcap reports there is still $392m in trading volume for BCH, even though that is virtually impossible right now. With so many exchanges freezing deposits and withdrawals, it is evident actual BCH trading is no longer possible whatsoever. Virtually all platforms have deposits of BCHSV and BCHABC frozen as well, which only makes this market trend more confusing. It is safe to say the entire network split has been a bit of a mess first and foremost. In the case of Bitcoin Cash itself, that name will – under the current circumstances- not be used across exchanges for much longer. Instead, the two separate camps need to be treated as such first and foremost. Until things settle down – with might not necessarily happen anytime soon – the Bitcoin Cash price itself is pretty much irrelevant for most traders and speculators. Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency. The post Bitcoin Cash Price Gets Skewed due to Exchange Trickery appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.