Latest Gemini Dollar updates on March 28th2023-03-07 : 2/ @CambridgeLadies: The Cambridge University Women’s Boat Club competes in the world-renowned @theboatrace. We are… https://t.co/6VXU6DxU6f
Gemini has recently announced the launch of their new ActiveTrader, a high-performance crypto trading platform. The platform offers candlestick charts, privacy mode, and the ability to hide dust. They also announced their sponsorship of The Gemini Boat Race, a rowing competition between rivals Oxford & Cambridge which will be broadcasted on BBC One. Additionally, Gemini is providing weekly market updates in order to keep customers informed of crypto price movements. They are also proud to sponsor 12-year-old mogul skier Ava Keenan and UK Football Club Bedford. Finally, they reassured customers that their banking relationship with JPMorgan remains intact.
What is Gemini Dollar ?Hello everyone!
Today, I am here to talk about the project Gemini Dollar (GUSD). GUSD is a stablecoin that is pegged to the US dollar with a 1:1 ratio. This means that one GUSD is equal to one US dollar. This project was launched by the Winklevoss twins, who are famous for their involvement in the creation of the world’s first cryptocurrency, Bitcoin.
GUSD is a tokenized US dollar that exists on the Ethereum blockchain. This means that it has the same liquidity and security as the US dollar, but is also able to take advantage of the Ethereum blockchain’s features such as smart contracts. It is designed to be a stable, reliable store of value, and is backed by a banking partner, State Street Bank, as well as Gemini Trust Company LLC, which is a fully regulated, licensed trust company.
The Gemini Dollar project has been able to achieve its goal of creating a stablecoin by using a process called Proof of Reserve. This process ensures that each GUSD token is backed by a real US dollar in a reserve account. This means that the GUSD tokens are fully redeemable for US dollars, and that they can always be exchanged back into US dollars at a 1:1 ratio.
GUSD is also designed to be transparent, with all of its transactions posted on the Ethereum blockchain. This means that anyone can verify the amount of US dollars that are backing the GUSD tokens. This also allows for more efficient and secure transactions, as the blockchain acts as an immutable ledger.
Overall, the Gemini Dollar project has managed to create a stablecoin that is backed by real US dollars. This means that it is a reliable, secure store of value, and has all of the advantages of the Ethereum blockchain. If you are looking for a stablecoin that is backed by the US dollar, the Gemini Dollar might just be the project for you.
This article was published on 2023-01-28 by Marc Endevor. Information shown in this article was gathered from the project’s website and Twitter account. Coinvestigate cannot guarantee the accuracy of this information, or any news that may have impacted the project in the meantime.
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What is the price & marketcap of Gemini Dollar?
Gemini Dollar is a cryptocurrency with a price of $ 1.00 and marketcap of $ 569,952,437. Gemini Dollar’s market price has increased 0.04% in the last 24 hours. It ranks 75 amongst all cryptocurrencies with daily volume of $ 664,804.
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