That's the power question, what could could go wrong?
Think about it, then the answer follows through.
It's no news what happened and is happening to the algorithmic stablecoin, UST, as I write this post, it stands at 46 cents.
The fall of UST losing it pegged to $1 worth of Luna is some kind of a jinx and some call it a coordinated attack.
On Saturday, one cryptocurrency wallet dumped $84 million worth of UST on Ethereum and $108 million on Binance’s exchange, prompting some members of the Terra community to call the de-peg a “coordinated attack.” source
I've only been made to seat and reflect on what could go wrong with HBD, Hive's native stablecoin which is solely dependent on hive as it is pegged to $1 worth of Hive.
The truth is that wherever you stand there's always those that would support you and those who would not support you.
Nevertheless if the later is greater in number then the former can't have effect because it's effect would be negligible.
The standard at which HBD stabilizer works help to keep HBD from losing its value (pegged price).
The HBD stabilizer automatically works as Hive is bought by selling HBD to keep its price below $1.01 at least $1 and HBD is bought by selling Hive to always keep the price from falling below $1 even if it does fall, HBD stabilizer keeps buying.
As days go by, we get to understand the necessity of having such mechanism in place because Hive ecosystem is decentralized in which no one person can be held accountable.
Hive is a body consisting of different components working independently and efficiently for one purpose, the continuous growth of the blockchain.
It's only clear that we should take into recognition that it would be a shame to get to the top only to fall without control.
As much as I keep my fingers crossed that HBD would stand the test of time as Hive also makes a name as it duly deserves would thrive against all odds.
We seeking that Hive becomes known all over as it is still underestimated, are we truly ready for that?
It's a good thing that the blockchain is committed to growth as communities work independently but for a sole purpose.
As this bear market is keeps having it's hands on every crypto, building as it's being done Hive, are alternative ways to still put your money where your mouth is.
Just some days, there was excitement when UST made it to the top league only to face the unimagined that has raised questions.
It's best to take time while building and thinking of what possible ways the worse could happen and could be prevented from ever happening.
We are growing at a pace that is best for hive blockchain and when the time comes and it's right, we sure would be ready with every security in places to remain a solid Rock, a place of solace.
Thanks for visiting my blog, till next time.