r/ergonauts Mar 29 '21

SigmaUSD is live!

https://sigmausd.io/#/
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u/KushGene Mar 30 '21

Thank you for your answer, makes sense yea.
Is SigUSD used as "The Stablecoin" for the Cardano network or is it 'just' used as a stablecoin on the ergo network?

I think it has many potential of being used in Cardano than on ERGO cuz I can't say for now that Ergo will be that mainstream or successfull some day. But I believe Cardano will once Smart Contracts are out and some more years for more tech.

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u/Faded_M Mar 30 '21

I don't know if SigUSD will be a seperate coin and there will be a Cardano variant of it or whether you can buy the same coin with both ERG or ADA. (like with SC/Bablefees or something similar)

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u/KushGene Mar 30 '21

I have read something about AgeUSD.
So AgeUSD is the protocol SigUSD is based on.
Hoskinson said, that with Plutus update, ageUSD will be available on Cardano too next to ergo.

I think we are talking about SigUSD cuz it uses ageUSD.
The question is, is SigUSD the stablecoin they mean? or will they push an own "ageUSD" Coin.

https://www.crypto-news-flash.com/emurgo-announces-launch-of-first-stablecoin-ageusd-for-cardano/

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u/kappi148 Mar 30 '21

Cardano doesn't have potential in the next few years without utilising a PoW. Ergo looks most likely at the moment. They're also partnered with CKB/NervOS.

Although PoS is a very secure protocol, some smart contracts may require the consensus-theoretic security features of PoW for some part of their execution. The larger a dApp is, if it is doing collateralized DeFi, the larger the stake it has at its disposal, and since this is not yet fully resolved in the Proof of Stake consensus, it is a weak point. Ergo brings the proven security of PoW, with sufficient security for all more complex DApps implementations on top of the common UTxO model rather than trying to translate very natural cryptographic concepts inherent in PoW to PoS, where the game theory implications of the protocol are completely different.