COTI to Issue Djed Stablecoin on Cardano Blockchain

Fintech platform COTI became the official to handle the issuance & development of New stablecoin on Cardano chain.

As we know, On 12 September Alonzo fork took place successfully. After the Alonzo Hardfork, many features came into reality on the Cardano Blockchain mainnet. So a recent summit was held, where many discussions about the Cardano project & Its ecosystem happened. 

On 26 September, Charles Hoskinson, Ceo & founder of Cardano project, announced that COTI ( Fintech firm network) will be the official to issue the Djed Stablecoin coin on Cardano smart contract. And also COTI will introduce an algorithm to sustain the stability of Djed. 

According to Charles Hoskinson, Djed will be a game changer in the field of crypto  because Djed will sustain its Stability more perfectly than any other assets. And the main use of the Djed coin will be to buy crypto assets just like fiat use in Banking system. 

Here one thing is worth to notice, there are many cryptography based stablecoins e.g USDT, USDC, BUSD, PAX. So it will not be easy for Djeb to make a significant place in the crypto market. 

One major thing we can see in the upcoming Djed Stablecoin is concept. A Few months ago, Charles Hoskinson talked about the Djed project and he used a mathematical theorem to prove the stability and working system of Djed to achieve full stability in the crypto market under high volatility situations. 

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