{"id":71020,"date":"2022-12-05T18:58:28","date_gmt":"2022-12-05T16:58:28","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71020"},"modified":"2025-09-08T05:39:25","modified_gmt":"2025-09-08T02:39:25","slug":"charles-hoskinson-backs-algorithmic-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/charles-hoskinson-backs-algorithmic-stablecoins\/","title":{"rendered":"Charles Hoskinson backs algorithmic stablecoins"},"content":{"rendered":"<p>Founder <a href=\"https:\/\/forklog.com\/en\/news\/what-is-cardano-ada\">Cardano<\/a> Charles Hoskinson called algorithmic stablecoins &#8220;the gold standard of the digital age.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The concept of algorithmic stablecoins is how we get nation states off of fiat currencies. It\u2019s the gold standard of the digital age. Use a deflationary cryptocurrency like bitcoin or ada to collateralize a stable coin that\u2019s use as a national currency.<\/p>\n<p>\u2014 Charles Hoskinson (@IOHK_Charles) <a href=\"https:\/\/twitter.com\/IOHK_Charles\/status\/1598732224618237953?ref_src=twsrc%5Etfw\">December 2, 2022<\/a><\/p>\n<\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The concept of algorithmic stablecoins is to disconnect states from fiat currencies. It\u2019s the gold standard of the digital age,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>Hoskinson also urged using &#8220;a deflationary cryptocurrency such as bitcoin or Cardano to back a stablecoin used as a national currency.&#8221;<\/p>\n<p>The proposal unsettled some users. They recalled the <a href=\"https:\/\/forklog.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">crash<\/a> of the algorithmic stablecoin UST from the Terra ecosystem.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">How will ADA backed stable coin prevent the UST-LUNA style fiasco ? I know ADA is fundamentally sound crypto but wanted to hear your thoughts.<\/p>\n<p>\u2014 G1 (@sangokris77) <a href=\"https:\/\/twitter.com\/sangokris77\/status\/1598733655286976527?ref_src=twsrc%5Etfw\">December 2, 2022<\/a><\/p>\n<\/blockquote>\n<p><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Algorithmic stablecoins were created as an alternative to time-tested centralized assets like <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a>. The sector is actively developing, but many projects struggle to prove their viability.<\/p>\n<p>In November, Emurgo, the company behind Cardano&#8217;s ecosystem, <a href=\"https:\/\/forklog.com\/en\/news\/dollar-backed-stablecoin-to-be-launched-on-cardano-blockchain\">announced<\/a> a USD-backed stablecoin USDA. Launch on the mainnet is planned for the first quarter of 2023.<\/p>\n<p>Earlier, Coinbase CEO Brian Armstrong <a href=\"https:\/\/forklog.com\/en\/news\/what-is-coinbase\">noted<\/a> the potential of inflation-linked stablecoins.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Founder of Cardano, Charles Hoskinson, called algorithmic stablecoins &#8220;the gold standard of the digital age&#8221;.<\/p>\n","protected":false},"author":1,"featured_media":71021,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[471,1138,807],"class_list":["post-71020","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-charles-hoskinson","tag-opinions","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71020","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71020"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71020\/revisions"}],"predecessor-version":[{"id":71022,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71020\/revisions\/71022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71021"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71020"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71020"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71020"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}