It’s no secret there are way too many cryptocurrencies out there, in fact over 1,000 different coins. Every single blockchain ecosystem is requiring the use of its unique coin; an equivalent of that would be having t exchange your dollars into every supermarket’s local currency in order to shop there. And the volatility resulting from the way the cryptocurrency token supply is set up prevents most mainstream systems from effectively using blockchain and cryptocurrencies.
The future of crypto lies in consolidation and stabilization. Stable coins will play a much more important role in the crypto market with many blockchain networks creating mechanisms for major stable coins to be used within their systems. Stable coins have a much higher probability of being used in the mainstream markets than any other type of cryptocurrency.
There are several projects working to create a good stabilization mechanism for a stable coin, such as Tether, MakerDao, Basecoin, Havven and more. Many of the past efforts to create stable coins have failed to create long-term stability. As the industry continues the search for the optimal cryptocurrency, with blockchain 3.0 platforms getting closer to launch, effective stable coins may finally become attainable. One such platform is COTI, optimized for payment systems and stable coins via its use of DAG (decentralized acyclic graph), already working with decentralized payment systems to provide a much more stable, scalable, trusted and efficient ecosystem than the ones current blockchain 2.0 platforms can currently supply.