The Beginner’s Guide
Reserve Rights is passed as the token of the Reserve project. The aim of the project is to create stablecoins that cannot be closed by any application via decentralized launchers.
What is the Purpose of Reserve Rights?
The goal of the Reserve Project is to create a stablecoin that cannot be closed by any network. The creators of the project, on the other hand, aim to add decentralized fiat money ramps to the created stablecoin and solve problems such as shutdowns in the system.
According to the project owners, people’s money should stay safe. Billions of people in particular cannot keep their money securely for different reasons. Especially because some banks are unreliable, governments can devalue money to pay off debts, which can seriously hurt citizens.
Those who work in the project believe that everyone in the world should deal with whomever they want, except for crime. Therefore, it allows cross-border transactions to be made without contact.
To solve this problem, Reserve created decentralized stablecoin. Decentralized stablecoin cannot be controlled by anyone as it operates in a globally distributed network. In this way, governments cannot abuse your money.
Before the Reserve project, cryptocurrencies were launched due to problems with currencies. But over time, with the intervention of traders, it became extremely speculative. According to the Reserve project, cryptocurrencies will easily consolidate their positions and summarize the reasons in a few points.
Coins can be divided into several parts.
Cryptocurrencies are trying to solve the problem, but most stablecoin projects maintain their value thanks to the center and the US dollar.
The future cryptocurrency as the dollar-independent stablecoin, according to the firm. The most important feature of the mentioned stablecoin lies in its decentralization. Thanks to this, stablecoin cannot be closed by any organization.
What are the Technical Features of the Reserve Project?
The Reserve protocol operates centrally at first and will become fully decentralized as enhancements are applied to the protocol’s main chain. The Reserve project has a three-stage plan to decentralize the protocol:
Central phase: In this phase, the Reserve is decentrally supported by several mutual tokens. And all tokens are indexed to the US dollar.
Decentralized phase: In this phase, the Reserve has a decentralized counterpart by different entities in the basket, but price stabilization is provided by the US dollar.
Independent phase: At this stage, the Reserve will not be tied to the US dollar. This ensures that the purchasing power is stabilized regardless of the value of the US dollar.
Reserve Protocol can be held on top of any smart contract. The price of the variable value basket is measured in US dollars. While currently active on the Ethereum (ETH) network, the firm is currently building bridges to interact with different smart contract platforms.
Who is on the Reserve Team?
The Reserve team includes the firm’s co-founder and CEO Nevin Freeman, co-founder and CTO Matt Elder. But others include business development director Charlie Smith, protocol development director Jesper Ostman, CFO Cathleen Kilgallen, legal director Mark Lee, protocol designer Taylor Brent, operations director Erika Campbell, general consultant Matt Gertler and product development director Josh Furnas.
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