USDN Crypto is a cryptocurrency token and was the first stablecoin on the market. Neutrino created USDN to provide a reliable and trustworthy way to store value without the volatility risks, which are a sure thing in other cryptocurrencies.
USDN price is directly correlated with the US Dollar, backed by another digital currency, WAVE, and regulated by the neutrino protocol.
What is Neutrino USD (USDN)?
USDN is USD Crypto’s ERC-20 token. It is used for transactions on the USD Crypto platform and rewards those who hold USD deposits with interest payments, which means that USD holders can earn more than they would be saving in a regular bank account.
USD Crypto Tokens (USDC) are decentralized tokens built on the Ethereum blockchain.
USDN is used as a stablecoin to keep the value of transactions pegged to the USD, meaning that users can be sure that their money is always worth something, regardless of what happens in the market.
USD Crypto is perfect for –
- Storing value without volatility
- Transactions on the USD Crypto platform
- Earning interest on USD deposits
- Using as a stablecoin peg for other cryptocurrencies
Table of Contents
- 1 Neutrino – A Team of Blockchain Specialists!
- 2 Who Uses Neutrino?
- 3 What is USDN Crypto Used for?
- 4 How is USDN Created?
- 5 Neutrino USD Team
- 6 Why did Neutrino Create USDN?
- 7 How Can I Use USD Coins?
- 8 What is WAVES, and How is It Related to USDN?
- 9 What is USDN’s Current Market Cap?
- 10 What Can I Use USD Crypto for?
- 11 Conclusion
Neutrino – A Team of Blockchain Specialists!
Neutrino has been working on blockchain technology since 2011 when it was founded by CEO Larry Smalheiser, who previously worked at IBM and Bloomberg LP before founding Neutrino Blockchain Labs Inc., an R&D organization focussing on Distributed Ledger Technology (DLT).
From 2011 – 2014, they were primarily focused on researching DLTs, including but not limited to Ethereum’s Smart Contracts platform, which allows users to issue tokens without having their cryptocurrency running the network like Bitcoin or other cryptocurrencies would need you to run your node(s) to participate.
USD Crypto is the first live product out of Neutrino. It has been in development for over a year with a team of developers, legal experts, financial advisors, and blockchain specialists.
Who Uses Neutrino?
USD Crypto users will use USDN to manage their USD deposits and send/receive USD on the platform. These are called USD holders, who can earn interest from holding USD in a Neutrino account.
USD holders will earn USDN and USDC as interest payments on their USD deposits.
What is USDN Crypto Used for?
USD Crypto users will use USDN to manage their USD deposits and send/receive USD on the platform, which means that they can use it in all of the same ways you would normally spend money online or at a supermarket – buying goods, paying bills, withdrawing cash from an ATM, etc.
As well as this, there are also some other things Neutrino plans to do with USD Coin, such as using it to reward those who hold onto their coins (by giving them interest) and providing a stablecoin peg for other cryptocurrencies – so if you want less volatility in your portfolio, then USD coin could prove to be a handy tool.
How is USDN Created?
USDN tokens are constantly generated using intelligent contracts through Ethereum (ERC-20). Users pay for this with ETH or other ERC-20 compatible coins such as BTC and BCH. This means that anyone with access to an Ethereum wallet can use USDN without any previous cryptocurrency experience!
Neutrino USD Team
The team at Neutrino is a leading provider of blockchain technology and consulting services, and its mission is to make cryptocurrency accessible to everyone.
They believe that USDN is a valuable addition to the cryptocurrency landscape and will play an essential role in developing the industrial sectors.
Neutrino’s motive says, “We wanted to build a cryptocurrency that is transparent and safe for users so they can store their money without fear of losing it – USDN will never suffer from volatility! USD Crypto is also completely open-source, which means anyone can access the USDN code and build their applications using USDN.”
Why did Neutrino Create USDN?
There are many advantages of USD Crypto over other stablecoins on the market, including:
- USD coin has limited volatility risk.
- It does not rely on a centralized entity to manage (like Tether) – USDR smart contracts ensure that you always get what your account says you should. This keeps things fair for everyone!
USDC coin has been launched in Beta Phase as part of the public development roadmap. The primary aim at this stage is to gain feedback from users so its functionality and features can be improved moving forward into full production.
How Can I Use USD Coins?
You don’t need an account with USD Crypto to use USDC. This will change soon when a fully functional USD Crypto platform is released, and you’ll be able to store your coins there.
In the meantime, deposit any ERC-20 compatible coin such as ETH or BTC into smart contract using MyEtherWallet (LINK).
What is WAVES, and How is It Related to USDN?
USDN is a USD stablecoin built on the WAVES blockchain. The USD Crypto platform will soon be fully integrated with USD Coin so that you can transfer between USD Coins and USD in one place!
Waves Platform was chosen for several reasons. It has a proven track record of delivering high-quality products; it’s user-friendly and has a robust infrastructure. It has an active community that supports new initiatives. For more information about Waves, please visit their website! (LINK)
USD Crypto is a platform that enables users to send and receive USD using blockchain technology. It’s a fast, secure, and expedient way to use money online, and it has been designed with usability in mind. Transactions on USD Crypto are quick and easy – all you need is a valid email address!
What is USDN’s Current Market Cap?
USDN is currently ranked #56 on coinmarketcap.com. USD Coin has a market cap of USD 16,000, while USD Crypto has a market cap of USD 156975.
Neutrino Protocol is Trustworthy!
As previously mentioned, USDN is WAVE-backed and tied to a real asset currency, the US Dollar 1:1.
USD Crypto will only ever hold USD for users who have chosen to use USD tokens on their platform – this means that there are limited risks of any USD being lost or stolen from the network!
What Makes USDN Unique?
For starters, it’s the first USD stablecoin built on a public blockchain. USDN is also unique because it’s regulated by the Neutrino Protocol, one of the most secure and trustworthy protocols globally!
A Stable Algorithm – Safe Investment
USDX is a novel way of maintaining stability and providing decentralization, as oracles are provided by third-party entities (which can be financial firms!) that have an incentive to remain accurate in their evaluations of USD value.
The USDX will also use AI algorithms to provide more advanced predictions about future price movements; USDN has already proven as an effective USD stablecoin.
Using a decentralized oracle system also allows USD Coin users to view the USDX results and compare them with other USD pegged cryptocurrencies; this will help provide transparency into how these systems work.
Neutrino system base token (NSBT) is the fuel that powers USDN. It will also be used to power other services on the Neutrino platform. Transactions on USDN are confirmed by miners, who are rewarded in NSBT for their work.
What Can I Use USD Crypto for?
USD Crypto can be used for a variety of purposes, including:
Storing Value
USDN offers a more stable alternative to other cryptocurrencies, making it ideal for storing value.
Sending Money
USDN can be used to send money quickly and easily anywhere in the world.
Trading
USD Crypto can be traded on various exchanges, allowing you to take advantage of price fluctuations.
Investing
USDN can be used to invest in a wide range of assets, including stocks, bonds, and real estate.
Conclusion
This will make financial transactions easy for everyone – store your money in USDN and use it to buy things online or in-person without having to worry about exchange rates volatility.
As always, while cryptocurrency investment can be extremely profitable, ensure to do your own research and determine for yourself your own appetite for investment risk and volatility.
References
https://www.nasdaq.com/articles/best-stocks-to-invest-in-right-now-4-consumer-stocks-to-watch-2021-03-11
https://wp.neutrino.at/overview
https://neutrino.at/
https://messari.io/asset/neutrino-dollar/profile