TrueUSD Now Uses Chainlink’s Proof Of Reserves

Twitter icon  •  Published há 1 ano  •  Hassan Maishera

Chainlink announced via Twitter on Wednesday that TrueUSD (TUSD) is now using Chainlink’s Proof of Reserves technology to secure minting and further ensure transparency and reliability.

Chainlink announced via Twitter on Wednesday that TrueUSD (TUSD) is now using Chainlink’s Proof of Reserves technology to secure minting and further ensure transparency and reliability. TUSD has become the first stablecoin to programmatically control minting with real-time on-chain verification of off-chain reserves. With this ‘Proof of Reserve’ data feed, the TUSD smart contract will automatically check whether the total supply of TUSD would exceed the total amount of US dollars held in reserve before any new stablecoin is minted.

Chainlink Network (LINK) aims to provide tamper-proof inputs and outputs of data for smart contracts on any blockchain. LINK is up by more than 5% over the past 24 hours and is trading at $7.920 at press time. 

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.