MobileCoin Introduces New Stablecoin Called Electronic Dollars (eUSD)

A new stablecoin called Electronic Dollars (eUSD) was introduced by the privacy-focused cryptocurrency and payments company MobileCoin in association with the stablecoin platform Reserve. The business claims that eUSD is designed to safeguard consumers’ confidential transactional data and is entirely collateralized. 1/13 We're pleased to confirm that we will be deploying the protocol on Monday Oct 10th, concurrently with our launch event 🥂 But what does "deploying the protocol" mean? 🧐 When will staking be an option? When is it a good idea to stake? 🤔 🧵 pic.twitter.com/mSEy6atgn0 — Reserve (@reserveprotocol) October 8, 2022 Support To eUSD MobileCoin claims that eUSD is supported by a group of stablecoins, including USD Coin (USDC), Pax Dollar (USDP), and TrueUSD (TUSD). Additionally, every transaction uses end-to-end zero-knowledge proof to encrypt data. The MobileCoin blockchain, said to be mobile device-optimized, serves as the foundation for the stablecoin Electronic Dollars (eUSD). According to reports, MobileCoin was initially designed to be integrated with the Signal mobile messaging program, which offers encryption. Therefore, eUSD will carry over MOB’s functionalities. However, users of eUSD will pay transaction fees in eUSD rather than MOB. Working Of eUSD The MobileCoin Foundation serves as the principal governing organization for the eUSD, which appears to have a centralized governance structure. The foundation...