Stablecoin: Just What the Ethereum "Doctor" Ordered

Cryptocurrencies backed by stable fiat currencies, like the U.S. dollar, made huge waves earlier this summer.

They're called "stablecoins," and they're a way to potentially blunt the notorious volatility of cryptocurrencies – an issue that profoundly affects the viability of using crypto as an "everyday" medium of exchange. You wouldn't want to draw a paycheck in crypto, for instance, or even buy a gallon of milk with it, because the value gyrates wildly almost by the hour.

Stablecoins make an end run around that problem. Even better, they provide a way for regular investors to hop in and out of crypto positions with little "friction" and take full advantage of the "good stuff" cryptos have to offer: international acceptance, ease of use, security, and privacy. 

They're outrageously popular, too. For a time this summer, before its well-publicized troubles, Tether did more daily volume than the greenback.

Now stablecoins are coming back – the right way. And they're doing it all aboveboard, in the light of day, with some serious backing and the OK of U.S. regulators.