As the name suggests, the stablecoins are digital currencies that are price stable. Thus, a stablecoin offers all the advantages of a cryptocurrency but its price is pegged to an asset like physical gold or a fiat currency like USD. It brings the best of the two worlds together. While it provides high security with cryptography, encryption, and hashing, it also provides the stability offered by fiat currencies. Why did stablecoins become so popular in 2020? Stablecoins gained tremendous gr o wth in the year 2020. A close look at the market reveals that over 200 stablecoins have been announced to date and the total supply of the stablecoin market has surpassed 12 billion. However, more than 60% of the stablecoin projects are conducting research and development to become fully active. Thus, the stablecoin industry offers a lot to the new entrants to flourish. Here the top 5 reasons for the increasing popularity of stablecoin development: As discussed above, a stablecoin is backed by a p
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