Privacy is a concept no one can associate with traditional finance solutions. In the cryptocurrency world, that situation is a bit different. Even a stablecoin can be private, when done right.
Haven Values Privacy with XUSD
There are many stablecoins on the market, yet they seem to lack privacy features.
Even though pseudonymous addresses can be used, converting the asset to regular currency requires using centralized platforms with KYC procedures.
Moreover, the proposed value peg is sustained through asset backing, usually in traceable fiat currency.
Haven’s XUSD is a unique stablecoin that has none of these drawbacks.
Its price stability does not hinge on asset backing or a risky peg, but rather an algorithmic dual coin blockchain.
Every XUSD -or Haven Dollar – can be converted into $1 worth of XHV at any given moment.
Similar to crypto assets like Bitcoin, the value of XHV can fluctuate, thus users may receive different amounts at different times.
Converting between XUSD and XHV can be done via the Haven wallets, adding an extra layer of privacy.
All in all, the XUSD stablecoin is a very different take on this concept.
It would be good to see more of these currencies move away from fiat-backed aspects and add more layers of privacy to the equation.