Cryptocurrency can be an area that is filled with unfamiliar terms, complex concepts and wild price swings, especially for the uninitiated and newcomers. Stability, therefore, is a highly sought-after commodity. Enter stablecoins: a distinct type of digital assets designed to provide a safe harbour amidst the volatility crypto market. For those new to the world of cryptocurrency, understanding stablecoins and their role in the ecosystem is essential. Let’s take a deep dive into what they are, how they work, the problems they solve and dispel the myths surrounding this class of digital asset. So, what are stablecoins? Think of stablecoins as cryptocurrencies with a life vest – anchoring their worth to external assets or algorithms such as the US Dollar, Euro or even gold. Unlike their volatile peers Bitcoin and Ethereum, the pegging mechanism ensures that the value of stablecoins remains relatively constant over time, making them more appropriate for financial applications and daily transactions....