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Utopia P2P Network Launches Anonymous USD Stablecoin

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cryptoknowmics.com 20 August 2021 15:33, UTC
  
Reading time: ~2 m

Decentralized peer-to-peer network, Utopia P2P has launched a new anonymous USD stablecoin backed by DAI called ‘UUSD’.

Utopia P2P Launches Anonymous USD Stablecoin

‘Utopia P2P’, a decentralized peer-to-peer ecosystem has launched its latest Utopia USD stablecoin, an anonymous U.S. dollar stablecoin backed by DAI. Built upon Utopia's serverless, peer-to-peer blockсhain, the stablecoin features anonymous transactions by default.

No information is revealed on the blockchain network, rendering its history completely untraceable. With every transaction done, no metadata remains visible, making it fully anonymous.

As of yet, no cryptocurrency provides this level of future-proof untraceable transactions, a sure standout from its competitors. Currently, private cryptocurrencies rely on obfuscation techniques and are vulnerable to tracking tools from CipherTrace. In this sense, this is not true anonymization.

Utopia USD will maintain 1:1 parity with the U.S. Dollar with its value backed by DAI cryptocurrency collateral that is publicly verifiable by the cold wallet address. The initial supply is 1,000,000 USD backed by 1,000,000 DAI.

The official launch of Utopia USD will be supported by a massive airdrop campaign and several marketing initiatives this month.

Most Advanced Blockchain Network

Utopia P2P is based on Proof-of-Stake and Proof-of-Resources algorithms that offer the most advanced blockchain technology for the cryptocurrency market from secured instant messaging, encrypted email, voice communication, and private web browsing.

Other features provided by the network include instant transactions in less than 3 seconds, transactions fees 30 times cheaper than Ethereum, absence of network congestion, no KYC or transaction limits, crypto cards, voucher code generation and redemption to enable offline and paper money transfers, desktop GUI and console software for built-in API and tools for merchants

In addition to crypto payments, other Utopia ecosystem components include a decentralized domain registry, multiplayer games, Tor alternative secure network Idyll browser created to surf deep sites hosted inside the Utopia ecosystem.


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