Post
Topic
Board Tokens (Altcoins)
Re: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold
by
webtricks
on 30/09/2020, 18:30:16 UTC
I've just read that another stablecoin you see as competition "expanded" to also work on another new blockchain.
Of course, one cause is the big fees on Ethereum blockchain. I see it also as extra advertising.
Clearly, I don't know how difficult this is to be implemented, but now there are plenty of blockchains where tokens and smart contracts work.
I'd love to see GOLD also on WAVES chain for example.

And what benefit would the project actually gain by running on various blockchains?

It is understandable for projects like USDT to have multi-chain support because stable dollar coins are used as base currency on crypto exchange and required frequently by users for trading purposes. Hence, the more network these coins are on, better and cheaper it would be for the users.

But GOLD is primarily an investment coin. I don't think $1-2.5 fees would be considerable factor for anyone looking to invest in gold for notable period. Moreover, Ethereum is biggest and most secure Smart Contracts supporting blockchain. Shifting to the other blockchain will just open gate to other vulnerabilities.

I would recommend to keep projects like DIGITAL GOLD on single and most secure blockchain i.e. Ethereum (apart from Bitcoin).