Stablecoin

<ul class="news-points"> 
 <li>PayPal’s recently unveiled PYUSD stablecoin has raised concerns about its centralization.</li> 
 <li>The crypto community has pointed out that PayPal will be able to freeze its users’ funds.</li> 
 <li>Some have argued that despite its flaws, the new stablecoin will be beneficial for the crypto industry.</li> 
</ul> 
PayPal’s recently unveiled PYUSD stablecoin has raised concerns regarding centralization from the crypto community. Several people have taken to X (formerly Twitter) to highlight controversial elements like PayPal’s ability to pause any stablecoin transfers and freeze its users’ addresses. 
Crypto influencer Altcoin Daily posted a <a href="https://www.youtube.com/watch?v=xh71MbNITFo" target="_blank" rel="noopener noreferrer nofollow">video</a> on YouTube earlier today to highlight the concerning elements of the dollar-pegged PYUSD stablecoin. The flaws highlighted by the influencer reignited the historical debate about the degree of centralization among crypto assets, which takes away the decentralized essence that was originally intended for these products. 
Crypto experts who studied PYUSD’s underlying smart contract found that the new stablecoin was actually written in an “extremely old” version of Solidity. Solidity is a programming language most notably used by the … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/paypals-new-pyusd-stablecoin-raises-centralization-concerns/">PayPal’s New PYUSD Stablecoin Raises Centralization Concerns</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

PayPal’s New PYUSD Stablecoin Raises Centralization Concerns

Coin Edition

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