Is there a "stablecoin" based on "proof of stake (PoS)"? Is it possible to create such a cryptocurrency?
According to Wikipedia: "Stablecoins are cryptocurrencies designed to minimize the volatility of the price of the stablecoin, relative to some "stable" asset or basket of assets." & "A Proof-of-Work (PoW) system (or protocol, or function) is a consensus mechanism. It deters denial of service attacks and other service abuses such as spam on a network by requiring some work from the service requester, usually meaning processing time by a computer." Are these two concepts compatible? What could be the advantages and disadvantages of a proof-of-stake stablecoin if it existed/exists?
So that's definitely possible. As long as the respective blockchain has can communicate or receive information from outside (has an oracle for instance) it can be pegged to a currency (USD, etc). In EOS.io blockchain which uses PoS variation as its consensus algorithm, you will find EOSDT; a stablecoin pegged to USD built on a PoS powered blockchain. Also, any stablecoin token built on top of Ethereum network will be using PoS once Ethereum makes the shift via Casper Protocol. So yes, the concepts are compatible. You will find a list of stablecoins here [in the Eos tab you will find EOSDT]. You can further explore and see if that's what you are looking for. As for advantages/disadvantages, I think the pros/cons of PoS over PoW would apply here as well. I hope that answers your question!
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