The DigiByte team is working on the launch of the decentralized stablecoin called DigiDollars.
The project founder Jared Tate wrote in his Twitter account: "so its time we make the DigiDollar."
According to Tate, users should not trust companies that act as a central bank that prints digital tokens. Tate proposed creating a decentralized system in which users will provide their own DigiDollars with their own bank account tied to the wallet. Using a smart contract and API the balance will be confirmed in real-time.
Tate claims "there is no central authority to control anything. The proof of the reserve is literally millions of people or more."
Earlier iHodl reported that Tate wrote criticized Poloniex claiming it a TRON shill factory after making off U.S. customers' sensitive data.
Shortly Poloniex announced it would delist DigiByte as the project isn't "qualified" per its listing standard.
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