The ever-growing crypto world has influxes of new cryptocurrencies and crypto users every year. Currently, there are more than 6500 cryptocurrencies, and the number is still surging. The surge is owing to the innovations that come into the crypto space annually.
Among the inventions are stablecoins, that give investors a more reliable option to hedge against cryptocurrency volatility. However, most stablecoins still face problems of transparency and security for their projects. For instance, the 8th largest stablecoin, USD Tether, was used to manipulate cryptocurrency prices in 2017, tarnishing the stablecoin name.
Apollo fintech introduces a new stablecoin with unique features, Gold Secured Currency. This currency inculcates value and technology in its making to assure users value growth.
A Brief on GSX
GSX is a stablecoin based on the Apollo blockchain and is the first currency to merge features of stablecoins and cryptocurrencies. It maintains a minimum value akin stablecoin and perpetually increases in value like a cryptocurrency. GSX is a hybrid stablecoin owing to its combining crypto-stablecoin features.
GSX as a Stablecoin
The backing asset’s purpose in stablecoin is to ensure that the coin won’t hit a threshold minimum value even in plummeting prices. Different companies use different assets in stablecoin backing, including fiat and cryptocurrency.
GSX revolutionizes stablecoin backing by using gold. Gold does not have price plummets or value losses; therefore, using it for backing ensures that GSX maintains its value.
- Audited- Apollo blockchain offers holders the security and transparency of their transactions. They manage this by allowing third-party auditing. Since the details are in an open immutable blockchain, auditors will assure GSX users of wealth maintenance.
- Trust backing- GSX has more than 300 acres of gold-rich land in Zimbabwe. GSX holders have decentralized ownership of the property. Moreover, all property used in mining has decentralized ownership, meaning the coins’ appreciation values benefit GSX holders.
- Redeemable- GSX coin is redeemable to its gold value 24/7. Any time a holder wants to sell the currency, they receive the value equivalent to the backing gold.
GSX as a Cryptocurrency
The value growth is owing to the assets used in backing GSX; gold and gold-rich land. Gold is among the most beneficial investments in the globe today, and its value perpetually increases due to its high demand.
An increase in the value of the backing asset drives an increase in the stablecoins value. GSX, therefore, will enjoy gold’s never-ending demand and thus remaining nonvolatile and deflationary.
Land value appreciates perpetually, and this is true everywhere in the world. Apollo fintech owns more than 3700 acres of gold-rich land in Zimbabwe. Moreover, Apollo has several subsidiary businesses that generate humongous profits every year. 25% of the profits from these businesses will aid in purchasing more gold-rich land. The appreciation values of the lands back GSX’s value.
GSX plans to burn 50% of coins that will not be in circulation. Coin burning will create a surge in demand for GSX coins, and in return, the value increases. Moreso, the value of the burnt coins automatically adds to the existing GSX’s coin value.
GSX technology is one of a kind, especially with its hub Apollo. Apollo brings diversity in the crypto ecosystem by embedding unique features.
First Quantum Proof Stablecoin
Although there are many blockchains in the crypto world, Apollo is the first to introduce quantum-proof algorithms. The proofs will protect the blockchain from attacks by quantum computers.
GSX is therefore going to be the first stablecoin in the crypto world to implant quantum proofs. Therefore, when the world migrates to quantum computing, GSX will be the last standing coin.
First Stablecoin with Adaptive Forging
Adaptive forging is a unique technology that allows blockchains to create blocks only when transactions are happening. That is different from other blockchains, which continuously make blocks even when there are no transactions. Creating blocks on a need basis ensures there are enough resources for every transaction, thus fast and secure transaction completion.
First Stablecoin with the Updater Function
The updater function is a unique transaction that sends updates to all parts of the blockchain and database. Giant blockchains like Ethereum and Bitcoin have tried implanting this feature in their system with futility. Apollo introduces this function, ensuring that all the blockchain shards receive timely updates.
Database Level Sharding
Database level sharding is where blockchain’s database is divided into small independent shards. These shards can be used in different computers, thus increasing the Apollo blockchain’s scalability and speed.
Gold Secured Currency is proving to be the most technologically innovative stablecoin in existence. The technology used in its hub, the Apollo blockchain, is state of the art and ensures transactions and speed. Adaptive forging and database level sharding techniques ensure the blockchain remains highly scalable, thus faster completion of transactions.
The updater algorithm sends both security and operational updates to all ends of the blockchain. Moreover, quantum resistance makes GSX the stablecoin of the future.
Furthermore, its stablecoin nature makes GSX remain unaffected by price plummets due to the high reliability and demand for gold. Due to its cryptocurrency nature, GSX’s value perpetually grows to assure users of increasing wealth.
GSX is the first cryptocurrency to combine value growth and technology for perpetual investor returns.