Brooklyn developer introduces stable blockchain, pegged to US dollar

StabL looks to bring more, yes, stability to the world of cryptocurrencies.

Problems to ponder.

(Photo by Attribution Engine user Namecoin, used under a Creative Commons license)

ConsenSys developer Hadrien Charlanes announced last week a new blockchain token and exchange intended to solve the problem of the volatility of bitcoin (or ether and other blockchain currencies). The new company, StabL, will have the price of its tokens pegged to the U.S. dollar.

“The problem with using ether as a currency, is that it is a currency whose price is variable,” Charlanes wrote in an announcement post. “If this risk obstacle of volatile price were overcome, with the introduction of a cryptographic asset that tracks, for example, to USD, it would pave the way for massive acceleration of Ethereum adoption.”

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It’s an exciting product, in that the wild swings in the price of blockchain currencies has caused consternation¬†for many would-be adopters.

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