TrueUSD TUSD to Cosmos ATOM Exchange

Crypto Pair Details: TUSD to ATOM

TrueUSD TUSD

TrueUSD provides its token holders regular attestations of escrowed balances, full collateral, and also the legal protection against misappropriating underlying USD. The team believes that TrueUSD will be able to come up with the stable trading instrument for the traders of cryptocurrency that has been long-awaited. This will allow the businesses and consumers to use the digital currency as a medium of an exchange. The goal of the TrueUSD team was to build a coin that is stable and which can be used and trusted by them too. TrustToken is a platform that creates the tokens backed by assets that can easily be purchased and sold all around the world. The first asset token of TrustToken is TrueUSD, which is a stable coin and can be redeemed 1-for-1 for US dollars. TrustToken have partnered with registered fiduciaries and banks for holding the funds securely backed by TrueUSD tokens. To increase the amount of security, fiduciaries, and banks directly handle all the funds. Escrowed funds do not give access to the TrueUSD system. TrueUSD works with various trust companies which already manage around billions of dollars. Just pass an AML/KYC check, send USD to a trust company with an agreement of escrow. When the funds get verified, their API tells the smart contract of TUSD to mint an equal amount of TUSD to your public Ethereum address. The USD funds are regularly verified in scheduled attestations by a very much trusted auditing firm. USD funds are kept safely in a third party account, that is escrow accounts, wherein TrustToken does not hold any direct access to the funds and cannot abscond with them even if they wish to. The token burning and minting system makes sure that every TUSD token is backed by 1 USD. A mandatory check of AML/KYC makes sure that TUSD keeps shady people away from the entire project. TUSD makes faster transactions in low transaction fees. Even though TUSD is a unique offering, it is most likely overshadowed by its bigger competitors - Tether. While TUSD arguably offers more security and features, it may be losing the marketing battle. This is not to say that the situation will remain the same. With more crypto investors joining the market every day, the good times for TUSD may be on their way.

Cosmos ATOM

The Cosmos network consists of many independent, parallel blockchains, called zones, each powered by classical Byzantine fault-tolerant (BFT) consensus protocols like Tendermint (already used by platforms like ErisDB). Some zones act as hubs with respect to other zones, allowing many zones to interoperate through a shared hub. The architecture is a more general application of the Bitcoin sidechains concept, using classic BFT and Proof-of-Stake algorithms, instead of Proof-of-Work.Cosmos can interoperate with multiple other applications and cryptocurrencies, something other blockchains can’t do well. By creating a new zone, you can plug any blockchain system into the Cosmos hub and pass tokens back and forth between those zones, without the need for an intermediary. While the Cosmos Hub is a multi-asset distributed ledger, there is a special native token called the atom. Atoms have three use cases: as a spam-prevention mechanism, as staking tokens, and as a voting mechanism in governance. As a spam prevention mechanism, Atoms are used to pay fees. The fee may be proportional to the amount of computation required by the transaction, similar to Ethereum’s concept of “gas”. Fee distribution is done in-protocol and a protocol specification is described here. As staking tokens, Atoms can be “bonded” in order to earn block rewards. The economic security of the Cosmos Hub is a function of the amount of Atoms staked. The more Atoms that are collateralized, the more “skin” there is at stake and the higher the cost of attacking the network. Thus, the more Atoms there are bonded, the greater the economic security of the network. Atom holders may govern the Cosmos Hub by voting on proposals with their staked Atoms.

SOURCE: COINGECKO

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