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Basis Dollar Share Price (BSDS)
$0.089839
2.45%
Basis Dollar Share Price Chart (BSDS/USD)
Last updated 22 Jun 2022, 09:10AM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|---|---|---|---|---|---|
| 1 |
 Hotbit |
BSDS / USDT | $0.00090081 | 88.59% | $0 |
BSDS Price Statistics
- Basis Dollar Share Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $14,958
- Market Cap Rank #3584
- Market Cap $20,520
- Volume / Market Cap 0.7289
-
All-Time High
$431 -99.98%
Jan 01, 2021 -
All-Time Low
$0 83.15%
Apr 13, 2022
Basis Dollar Share: A Revolutionary Cryptocurrency
Introduction
The world of cryptocurrencies continues to evolve with new and exciting projects emerging regularly. One such project that has gained immense popularity is Basis Dollar Share. Let's delve into what makes this cryptocurrency revolutionary and why it has become the talk of the town.
What is Basis Dollar Share?
Basis Dollar Share, also known as BDS, is a decentralized cryptocurrency that aims to address the issue of price stability within the crypto market. Unlike traditional cryptocurrencies like Bitcoin and Ethereum, BDS is designed to be a stablecoin - a cryptocurrency with a value pegged to a stable asset or a basket of assets.
The main objective of BDS is to tackle the problem of volatility that plagues many cryptocurrencies. By maintaining a stable value, BDS aims to create a reliable medium of exchange and a store of value that can be used for everyday transactions.
How Does Basis Dollar Share Work?
BDS relies on an algorithmic mechanism to maintain price stability. It employs an elastic supply model, meaning the token supply can expand or contract based on market demand.
When the price of BDS rises above the target value, the supply of tokens expands, leading to a decrease in price. Conversely, when the price falls below the target value, the supply contracts, causing an increase in price.
This mechanism ensures that the value of BDS remains relatively stable, making it an ideal cryptocurrency for everyday use.
The Benefits of Basis Dollar Share
1. Stability: The primary advantage of BDS is that it offers price stability, making it a reliable medium of exchange and a store of value. Users can transact using BDS without worrying about significant price fluctuations.
2. Decentralization: Like many cryptocurrencies, BDS is built on a decentralized network, which means that no single entity or government controls it. This ensures transparency and security in transactions.
3. Inflation Hedge: BDS's algorithmic mechanism helps protect users from inflation. As the supply adjusts to maintain price stability, users can safeguard their purchasing power, even during periods of inflation.
Conclusion
The emergence of Basis Dollar Share has brought much-needed stability to the volatile world of cryptocurrencies. With its algorithmic mechanism and focus on price stability, BDS has caught the attention of investors and users worldwide. It provides a stable alternative for those seeking a reliable cryptocurrency for everyday transactions. As cryptocurrencies continue to evolve, BDS is undoubtedly a project to watch out for.