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PegNet Price (PEG)
$0.0000221
1.80%
PegNet Price Chart (PEG/USD)
Last updated 22 Jun 2022, 09:10AM UTC. Currency in USD.
Markets
| # | Exchange | Pair | Price | Spread | Volume(24h) | Trust |
|---|---|---|---|---|---|---|
| 1 |
 Hotbit |
PEG / USDT | $0.00002519 | 19.62% | $1,449 | |
| 2 |
 ViteX |
PEG / BTC | $0.00001905 | 40.00% | $152 |
PEG Price Statistics
- PegNet Price Now $0
- 24h Low / 24h High $0 / $0
- Trading Volume $1,133
- Market Cap Rank #3252
- Market Cap $71,093
- Volume / Market Cap 0.0159
-
All-Time High
$0 -99.83%
Apr 18, 2021 -
All-Time Low
$0 67.31%
Jun 02, 2022
PegNet Cryptocurrency: A Revolutionary Solution to Stablecoins
Introduction
The cryptocurrency market has witnessed immense growth in recent years, but it still faces challenges when it comes to stability. Volatility is a major concern for investors, making stablecoins an attractive alternative. PegNet cryptocurrency offers a unique and innovative solution to this problem.
What is PegNet?
PegNet is a decentralized, open-source, and fully auditable stablecoin network built on the Factom blockchain. It aims to provide stability and security to users in the volatile world of cryptocurrencies. PegNet achieves this by pegging the value of its stablecoins to different assets, including traditional currencies, such as the US dollar (USD), commodities like gold, and cryptocurrencies like Bitcoin or Ethereum.
How Does PegNet Work?
PegNet operates through a decentralized oracle network that aggregates data from various external sources to determine the value of different pegged assets. This data is then used to mint stablecoins (Pegged Assets) equivalent to the value of the asset being pegged. For example, if 1 Pegged Asset (PAsset) is pegged to 1 USD, then 1 PAsset will always be valued at 1 USD.
PegNet is not a blockchain itself; rather, it operates on top of the Factom blockchain. This allows PegNet to benefit from the security and immutability of Factom while enjoying fast transaction speeds and low fees.
Advantages of PegNet
- PegNet offers stability: One of the biggest advantages of PegNet is its stability. By pegging assets to various stable reference points, PegNet cryptocurrencies aim to minimize volatility and provide a more reliable alternative to traditional cryptocurrencies.
- Decentralization and transparency: PegNet operates in a decentralized manner, ensuring that no single entity has control over the network. Additionally, all transactions on PegNet are recorded on the Factom blockchain, making them transparent and easily auditable.
- Flexibility and choice: PegNet allows users to choose which assets they want to peg their stablecoins to. This gives users the flexibility to align their investments with their personal preference and risk appetite.
- Low fees and fast transactions: Being built on Factom, PegNet benefits from its efficient infrastructure. Transactions on PegNet are fast, and due to the Factom protocol, fees remain low even during high network congestion.
Conclusion
PegNet cryptocurrency offers a groundbreaking solution to the volatility and instability often associated with cryptocurrencies. It provides a reliable and transparent platform for users to transact with stablecoins pegged to different assets. With its decentralized nature, flexibility, and low fees, PegNet has the potential to revolutionize the stablecoin market and attract a wider range of users to cryptocurrency investments.