Basis' 'Basecoin' is Designed to Prevent Wild Price Fluctuations
References: getbasecoin & techcrunch
Anyone who's gotten involved in the maelstrom that is cryptocurrency investing knows the constant anxiety of checking to see whether one's investment has flown way up or dropped precipitously in the span of a few hours, and 'Basecoin' is a new cryptocurrency expressly designed to prevent that from happening. The coin, which has been developed by a one-year-old New Jersey startup called 'Basis', is built to keep a steady price of approximately one US dollar per coin, making it a practical, usable coin rather than something for pure speculation.
The structure behind Basecoin is complex, but it boils down to creating an elastic currency. In effect, the total amount of Basecoin in the world constantly fluctuates, which shifts the volatility to the coins themselves while keeping their price stable.
The structure behind Basecoin is complex, but it boils down to creating an elastic currency. In effect, the total amount of Basecoin in the world constantly fluctuates, which shifts the volatility to the coins themselves while keeping their price stable.
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