Will cryptocurrencies ever become much more than speculative assets? If they do, the key will be a new kind of digital coin that is engineered to maintain a steady price. At least, that’s what a growing number of developers in the crypto world seem to believe.
We’re in the midst of a “Cambrian explosion” of such projects, says Garrick Hileman, head of research at Blockchain, a cryptocurrency services firm. According to a survey Hileman published this week, the number of what are called stablecoins has grown from a just a handful to nearly 60 in the past 18 months, and more than a dozen more are expected to launch in the near future.
