On June 12, the Honestnode team announced the release of a new stablecoin project built on top of the Bitcoin Cash network called Honestcoin (USDH). The new token was made using the Simple Ledger Protocol (SLP) and recently launched on the cryptocurrency trading platform Coinex. This week news.Bitcoin.com spoke with the founder of Honestnode, Jian Shi, to learn more about this new stablecoin.
Also read: Coinex Exchange Lists the first SLP-Based Stablecoin Built on Bitcoin Cash
A Discussion With the Founder of Honestnode
Over the last few years, stablecoins have become a popular vehicle within the cryptocurrency landscape and since the birth of tether (USDT), there’s been a decent number of launched stablecoins on networks like Omni Layer, Ethereum, and Tron. These stablecoins have been collateralized in different ways.
Now the Bitcoin Cash network has a stablecoin called honestcoin (USDH) which was created using the SLP platform by the Honestnode team. USDH is a regulated stablecoin backed 1:1 for U.S. dollars and the Honestnode team aims to build various forms of infrastructure to support the token’s use cases. News.Bitcoin.com spoke with Honestnode founder and CEO, Jian Shi, who discussed how the company plans to bolster the potential of cryptocurrencies and blockchain solutions.
News.Bitcoin.com (BC): Can you tell our readers a little about Honestnode?
Jian Shi: Honestnode has created a regulated and secure stablecoin called honestcoin (USDH), and is building a diverse set of value-added application scenarios and tools to support its end-users. This will provide the Honestnode users with a stablecoin that is truly valuable in both the cryptocurrency world and the real world. Honestnode’s ecosystem consists of six primary products：
- Honestcoin (USDH): A regulated stablecoin backed by
