Archblock uses Chainlink’s reserve certification system for TrueUSD verification

It is reported that Archblock, the issuer of TrueUSD stable currency, said that it would use Chainlink’s reserve certification system to let users verify whether their reserves have been fully mortgaged on the blockchain through automatic data feed.

Interpretation of this information:

Archblock, the issuer of the TrueUSD stable currency, has reportedly chosen to utilize Chainlink’s reserve certification system. This new system will allow users to verify whether their reserves have been fully mortgaged on the blockchain. This will be done by using automatic data feeds that will provide full transparency to all users of the TrueUSD stable currency. This move is part of Archblock’s plan to ensure that its stable currency is transparent and secure, so its users can trust that the currency is backed by the necessary reserves.

Archblock aims to provide a stablecoin that is not only trustworthy but also transparent. Its latest move to use Chainlink’s reserve certification system is set to achieve the latter, as it plans to verify whether an appropriate amount of assets back each TrueUSD token. The partnership with Chainlink is set to help reduce any risk of potential fraud or manipulation on the Archblock blockchain. By doing so, it is expected that the TrueUSD stable currency will become even more attractive to users looking for a stable and secure digital asset.

This decision by Archblock comes at a time when stablecoins are becoming increasingly popular among cryptocurrency traders as they offer a secure stable asset that isn’t subject to such significant price fluctuations as other cryptocurrencies. By ensuring that the TrueUSD stable coin is backed by verified reserves, the company is set to become a leader in this space, as users will have confidence that the digital asset is safe to use.

In conclusion, Archblock’s latest move to use Chainlink’s reserve certification system is an essential step towards ensuring the transparency and security of the TrueUSD stable currency. It is expected that this development will bring forth more trust and confidence in the market, which will, in turn, increase the stablecoin’s adoption. The three keywords that summarize the content are; Archblock, TrueUSD, and Chainlink.