The CEO of IOG, Charles Hoskinson, has recently hinted at the Cardano community about an amazing algorithmic stablecoin paper which he said will surface in the next few weeks.
According to Hoskinson in a recent tweet, the paper is about an incomplete task since his days as co-founder of Bitshares, a decentralized crypto exchange (DEX).
Charles Hoskinson tweeted, “We have a really amazing algorithmic stablecoin paper coming out in the next few weeks. Unfinished business since the Bitshares days.”
We have a really amazing algorithmic stablecoin paper coming out in the next few weeks. Unfinished business since the Bitshares days.
— Charles Hoskinson (@IOHK_Charles) June 18, 2021
Charles Hoskinson Co-Founded Bitshares
Charles Hoskinson, the creator of Cardano (ADA), co-founded Bitshares in conjunction with the founder of Steem and EOS, Daniel Larimer, but the two later separated for unknown reasons.
In January 2021, Input Out Global (IOG), the software firm behind the development of Cardano (ADA), announced that the AgeUSD stablecoin would launch on the Ergo blockchain.
Also, in August 2020, Hoskinson revealed his obsession with decentralized finance (DeFi), claiming that Cardano’s algorithmic stablecoin would far better than MakerDAO.
Bitshares is a decentralized cryptocurrency exchange (DEX) that gives users the ability to trade cryptocurrencies as well as traditional instruments by converting them to BitAssets, BitShares (BTS) tokens that are pegged to real-world markets.
BitShares’ core token BTS (bitshares) is traded as a native cryptocurrency. BTS is required to pay network fees and can be used as collateral for market pegged assets. The blockchain is charging BTS for all operations and executes smart contracts.
The BitShares Blockchain is the first Decentralized Autonomous Company (DAC). Pioneering the industry with the consensus algorithm “delegated proof of stake” (DPoS).
BitShares Blockchain is governed directly by elected representatives. Everybody who holds BTS tokens can call their vote in the real-time BitShares Governance.