Forbes just recently has described a state of stablecoins as the growing phenomenon. USDX Wallet payment system has two coins at its core, one of them being a stablecoin. This article’s goal is to remind you — or tell you, if it’s the first encounter with our product — how the system works.

Those who own cryptocurrencies are well aware of its advantages and disadvantages. The volatility is, of course, in everyone’s minds and in today’s situation at the market, Bitcoin = volatility for many.

Our solution features two cryptocurrencies, USDX stablecoin (token) and LHT coin. We offer a secure payment system which has stable crypto assets at its core.

USDX stablecoin

USDX token works on top of the exclusive Lighthouse Blockchain and its price is pegged to the US Dollar at a 1:1 ratio via a smart contract. Each USDX is backed by at least 200% worth of LHT — the core crypto of our payment solution. If the price of LHT drops, Lighthouse Blockchain will add more LHT coins to comply with the terms of the smart contract. The main purpose of the USDX token is to be used as a means of payment. It could be purchased vis USDX Wallet app, where person-to-person transactions are fee-free. USDX stablecoins are:

Predictable;

Safe;

Exchangeable;

Accessible;

Useful for: person-to-person payments, buying goods and services, sending funds.

LHT coin

LHT is a digital asset with a limited supply: the maximum amount of available LHT coins is one billion. This is reflected in the Lighthouse Block Explorer. LHTs will be gradually sold on exchanges and via the USDX Wallet app to prevent extreme LHT volatility. A smart contract ensures that each USDX token is collateralized with at least 200% worth of LHT coins, according to the current market price of the latter. The market price is calculated as a median across all LHT prices on the exchanges it’s listed on. The listing is planned on January 2019.

Both our cryptocurrencies are based on Graphene, a third-gen software for the cryptographically secure DLTs. Graphene allows processing of 100,000 transactions/second, which is the speed of Visa and MasterCard combined.