Stability is what the cryptocurrency world needs right now, says Rune Christensen, founder of MakerDAO.
That’s why his company’s Dai token has attracted major backers like venture capital firm Andreessen Horowitz.
“A stable cryptocurrency really is one of those really fundamental building blocks that every other application needs [in order] to function,” says Christensen.
The Dai, which launched in December 2017 and is the first decentralized cryptocurrency on the Ethereum blockchain, gets rid of volatility by pegging itself to the U.S. dollar. That means one Dai is always worth $1. It is also backed by centralized assets.
Unlike other cryptocurrencies, the Dai isn’t for speculative investments. Holders can easily convert it into fiat currency and send it to each other.
For the full interview, [click here](https://cheddar.com/videos/the-no-volatility-cryptocurrency).
C'mon Federal Reserve, help an economy out.
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In case you needed yet another incentive to cram all your travel items into a carry-on, Delta Airlines has just boosted the cost of your first checked bag by 17 percent.
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Time for Kylie to get that cat?
The U.S. Supreme Court unanimously decided Monday to restore former president Donald Trump to 2024 presidential primary ballots. The court Monday rejected state attempts to hold the Republican former president accountable for the Capitol riot.
With warmer days and holidays ahead, it’s time to start planning.
