Stablecoins are designed to combine the transferability of blockchain-based assets with a value that tracks a reference currency, most commonly the US dollar or the euro. But stable does not mean risk-free.
Stablecoins Explained examines how fiat-backed, crypto-backed and algorithmic stablecoins work, and why reserves, collateral, redemption rights, liquidity and governance matter. Readers learn what causes depegging, how stablecoins differ from bank deposits and central-bank money, and how issuer, network, smart-contract, bridge and legal risks can combine.
Written in clear, practical language, this volume provides a structured framework for evaluating stablecoins without relying on brand recognition or promotional claims. The focus is understanding the mechanism, identifying dependencies and making informed decisions before transferring meaningful value.