Do you remember there was a community effort to support the launching of a USD market for STEEM on Bittrex?
Well, this one failed. Or at least it didn't succeed. Not sure if there's a difference, other than the syntax.
A different token got picked:
If you haven't heard of Komodo, you're not the only one. I haven't heard either. But congratulations to them are in order! They are the proud beneficiary of a USD market at Bittrex!
Maybe a few words are in order then. According to their description on coinmarketcap.com,
Komodo (KMD) is a Zcash fork that centers around privacy and the creation of secure, decentralized digital assets. Komodo's multi-chain design enables projects to build their own blockchain ecosystem via Komodo鈥檚 scalable infrastructure. It also supports cross-chain interoperability, which allows blockchain built with Komodo to connect with external chains via atomic swaps. Additional chains can be added to form a blockchain cluster to enhance performance without debasing the currency. Komodo is also secured with the hashing power of the Bitcoin network via a series of cross-chain notarizations that store a blockhash onto the Bitcoin ledger every ten minutes.
Hmm, I wonder if this approach actually works... So, as far as I understand it, this is not one blockchain-multiple coins, but the opposite, one coin-multiple blockchains. What happens if one blockchain is doing really great and one barely survives, in terms of the value of the coin?
By all indicators (market cap, daily trading volume, number of markets listed on, most likely technology too) Steem is better. I can only think that @Bittrex wanted to make a gift to a smaller token.
And I still believe that USD market on a large exchange is coming sooner or later for STEEM. I would say quite soon if you ask me, but it's just a feeling, I have nothing concrete to back it up, other than recent developments on Steem.
We do have a fiat pair, with the Korean national currency, and trading volume through that pair is often quite high. The USD (and why not EUR) pair(s) would be a next step to a wider acceptance.
